US STUDENTS' DEBT BURDEN!

"Federal" Reserve Bank of New York estimates 37 million Americans have student loan debt, totaling $870 billion. The average balance is around $25000. Only 39 percent are paying down balances. An estimated 5.4 million borrowers have at least one student loan account past due.. Generally, it's these private loans that bring borrowers to the door of bankruptcy lawyers. Private student loans often lack the protections of federal ones, and have rates that typically start higher and can shoot up. A recent survey of bankruptcy attorneys found 81 percent reporting more clients with student debt in recent years, and roughly half reporting a significant increase. And, also by way of background to those unfamiliar, student debt has a very peculiar feature: Virtually any other kind of debt

consolidating student loans

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