Student Loan Debt Shows No Signs of Slowing

College graduates continue to head into the workforce with crippling debt. According to a recent article by CNBC, the rates of graduates with debts continue to rise.

“As college costs rise and incomes fail to keep pace, the problem of student loan debt has become exponentially worse.

Now, nearly half of student loan borrowers owe at least $20,000 when they graduate, double the share a decade ago, according to a recent report by the Consumer Financial Protection Bureau. Meanwhile, the percentage of borrowers who owe $50,000 or more has tripled over the same time period.”

The article goes on to report that less and less of these graduates are paying off the student debt within five years.

Read the full article on the CNBC site here.