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Americans Owe $1 Trillion in Student Loan Debt

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Student loan debt is in the focus on Capitol Hill today. Americans owe one trillion dollars in student loan debt more than for credit cards or car loans. The Senate Budget Committee is hearing testimony from former students and economist on how to fix that. Economist Richard Vedder says college fees have grown at more than twice the level of inflation ... making college more expensive than ever before. He says, "it's a bigger burden for example for a citizen of Indiana to send their child to Purdue University today than at the end of the Great Depression. Even room and board charges far out-distance food and housing inflation rates."
Republican Senator Ron Johnson of Wisconsin today at the Senate Budget Committee hearing says colleges are to blame.


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