Stat of the Day: Don’t-Lend-College-Students-Money Edition

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


Here’s a fun tidbit fact-checker extraordinaire Aaron Ross dug up when we were shipping my Assignment: Ohio feature for the November/December issue. With the help of student-aid guru Mark Kantrowitz, Aaron was verifying that the majority of the student loans taken out in the United States haven’t yet been paid back. Just how much in outstanding loans are we talking?

Of the nearly $1.5 trillion in loans that US students have ever taken out on record, about $900 billion of it hasn’t been repaid. Yes, there are, according to the best estimate available, around some 60 million Americans walking around with student-loan balances. No, the numbers aren’t really so staggering because grads are slackers who never pay their debts; a third of all student loan debt was incurred in the last four years. So the national outstanding-loan debt is growing fast. Too bad for all us suckers who took out all that aid that the same cannot be said of the job market.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate