Could the student loan debt crisis be getting even worse? Total student debt crisis has ballooned to more than $1.4 trillion, according to a new report from the Consumer Finance Protection Bureau - but that's not the end of it.
More than 40 percent of borrowers now leave school owing $20,000 or more, double the percentage from 2002. The share of borrowers owing $50,000 or more has more than tripled over the same time period, from 5 percent to 16 percent.
In addition, they're starting their repayments later. Half of student loan borrowers are over 34 when they start to repay their loans, twice the percentage since 2003. The share of borrowers who have failed to reduce loan balances after five years in repayment has also doubled, from 16 percent in 2008 to 30 percent in 2016.
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