Student debt in US hits a record $ 1.5 trillion

Baku. 27 August. REPORT.AZ / Student loans in the US have exceeded the record level of $ 1.5 trillion, despite the fact that the actual volume of loans in this category has been declining over the past few years, Report informs citing the Interfax.

Borrowers do not cope with debt payments, and programs for reducing the debt burden do not facilitate the situation in sufficient volume.

According to S&P Global , the total student debt in the United States increased by $ 500 billion from 2010-2011 academic year, while the issuance of new loans was reduced annually from that time.

According to the forecast of Brookings, the level of default on student loans in the United States may reach 40% by 2023.