new report from the Consumer Financial Protection Bureau notes that Americans now have some $150 billion in private student loan debt. While private loans make up just a fraction of total outstanding student loan debt in the U.S. — which hit $1 trillion last year — they can be especially problematic for borrowers as they usually have higher interest rates and less protections than federal loans. Before the economic crisis, lenders are said to have been "aggressive" in their pursuit of students and often gave them loans beyond what they needed or could afford.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- What the collapse of the Ming Dynasty can tell us about American decline
- Colorado’s new ‘drive high, get a DUI’ commercials are actually pretty clever
- Why is American internet so slow?
- 7 ways to be the most interesting person in any room
- Ukraine's fraught relationship with Russia: A brief history
- The GOP must try to win over African-Americans
- Sandy Hook shooter Adam Lanza's dad: 'I wish he'd never been born'
- 10 things you need to know today: March 10, 2014
- What would a U.S.-Russia war look like?
- Why is it so expensive to build a bridge in America?
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