US students drown in sea of debt

The price of ‘higher education’ in the US continues to rise.

Al Jazeera English — American university students are beginning the new year with a mountain of debt. There is now $850bn owed in outstanding tuition costs and paying back the money is an ongoing challenge.

Two in every three American students graduate with loans outstanding, and the current debt is 11 times the total it was just two decades ago.

The average yearly cost of a bachelor’s degree in the US is between $5 000 and $43 000, compared to just over $5 000 in Canada and $1 300 in much of the European Union.

Experts say a college degree is an important investment, but in a difficult job market it is an investment that could take a lifetime to pay off.

Al Jazeera’s Tom Ackerman reports.

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