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Rip City Classic brings
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Sports, page 16
Thursday
November 3,
2011
surpasses ere
A federal law to go into effect
next year will ease federal loan
payment policies
Kate Peifer
Staff Writer
peiferl4@up.edu
The total loan amount of students attending a
college or university this year exceeded $1 trillion,
making student loan debt greater than credit card debt
for the first time. This is up from last year, when total
loans exceeded $100 billion.
According to Janet Turner, head of financial aid
at the University of Portland, the average amount of
undergraduate debt for the 2010-201 1 graduation class
was $20,310 per student. The total parent loan debt for
undergraduate students for the 2010-2011 academic
year was $10,769,045.
The devastating combination of high student loan
debt and job unavailability is an economic detriment
for students and families across the U.S.
“There’s a lot of outcry on student debt because
nationwide the economy has made finding a job
difficult,” Turner said.
On Oct. 26, President Barack Obama announced
his plan to enact a law to ease the burden of student
loan debt starting next year. The law was originally
planned to go into effect in 2014 through Congress.
Fr. Bill sits down for Fireside Chat
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