Student Loan Debt Hits the $1 Trillion Mark: Slavery and a Moment of Clarity
We did it! We did it! We did it! Student loan debt has hit the trillion dollar mark. A trillion — flipping — dollars.Do you know what a trillion dollars looks like?
In case you’re wondering, a trillion dollars looks a lot like this:
A trillion dollars = $1,000,000,000,000
That’s a whopping 12 zeroes; a trillion is a million million dollars. To put it into a relatable perspective: a trillion dollars is more than what Mark Zuckerberg makes in a year!
Since 1980, student tuition has skyrocketed up 600%. Here’s some fun facts: Our national student loan debt is higher than credit card debt. (Credit card debt comes in at a puny $704 billion.) Almost 28 percent of student loans are in the $25,000 to $200,000-plus range.
Hey students: Welcome to your bright future! Good luck working a lifetime to pay off that interpretive dance degree.
Utilizing direct democracy, student loan activists gathered today in New York and some 20 other cities – the protests are meant as “a reminder that private banks are still very much in the predatory lending business; this time it’s students not homeowners.”
Question to ask yourself: Is the student loan system a form of slavery? Comedian Lee Camp sees the debt crisis that way. You’re a slave and here’s why; it’s Lee’s Moment of Clarity: