#Education is Our Generation's Big Problem
Education in the United States is nearing crisis. According to a recently released government report, total student loan debt in the United States is estimated at more than 1 trillion dollars, surpassing total credit card debt and putting it at more than 40% of all consumer debt in the United States.
Student default rates tell the most chilling story. In 2009, the Department of Education reported that 8.8% of students who graduated in 2009 defaulted on their loans within 2 years of graduation.
The 8.8% figure only shows part of the story. The DoE's 2 year default tracking window hardly captures the problem , given that the first payment can be [deferred up to 420 days] (h