A guide to Obama’s student loan plan

By KIMBERLY HEFLING, AP Education Writer – 42 minutes ago

WASHINGTON (AP) — Recognizing that college students and recent graduates are facing rising tuition prices and burdensome student loan debt, President Barack Obama announced a plan that seeks to lessen the burden of paying back student loans.

Some questions and answers about student loans:

Q: How big a problem is student loan debt?

A: Total outstanding student debt has passed $1 trillion, more than the nation’s credit card debt, and average indebtedness for students is rising. The College Board said Wednesday that the average in-state tuition and fees at four-year public colleges rose an additional $631 this fall, or about 8 percent, compared with a year ago. The cost of a full credit load has passed $8,000 — an all-time high. The board said about 56 percent of bachelor’s degree recipients at public schools graduated with debt averaging about $22,000. From private nonprofit universities, 65 percent graduated with debt averaging about $28,000. Experts say those average amounts usually are still manageable, at least for those who finish a degree. Sigue leyendo

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