Student Debt: Paralyzing Lives One Student at a Time

This month, students all across the U.S. are getting ready to head off to college. For many of them, preparing for school involves taking on thousands of dollars in student loans that could impact their lives for years to come. 

Student debt totaled $1.3 trillion at the end of 2016, more than double what it was 10 years ago. The Federal Reserve Bank of New York found that mounting debt could ultimately hurt consumer spending and the upward mobility of low income students. Long after they've taken out student loans, Americans are being forced to choose between paying off debt and getting married, having children, saving for emergencies and purchasing homes. 

This week on Money Talking, Charlie Herman talks with Anna Sale of WNYC's Death, Sex & Money about her project, "Our Student Loan Secrets" and NPR Education Correspondent Anya Kamenetz about the long-term effects of rising student debt on both individuals and the U.S. economy.  

Student loan debt.

(fred.stlouisfed.org/Board of Governors of the Federal Reserve System)