A 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
- Why you should stop believing in evolution
- How Israel's hawks intimidated and silenced the last remnants of the anti-war left
- 10 things you need to know today: August 21, 2014
- Why your employer should clean your house and do your laundry
- The secret to handling pressure like astronauts, Navy SEALs, and samurai
- It's time for the police to rethink 'shoot-to-kill'
- The fascinating political evolution of Paul Ryan
- The big policy question libertarians can't answer
- 7 grammar rules you really should pay attention to
- What you need to know before you support the police in Ferguson
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