Our interns know a thing or two about the cost of college so it isn’t a big surprise that their moment of the day is our segment on student loans. Richard Cordray, the new head of the Consumer Financial Protection Bureau, is looking into student loan abuses and asking college students to share their stories about problems they’ve had obtaining or repaying college loans.
According to the Federal Reserve Bank of New York, Americans now owe more on their student loans than credit cards.
That could be because college has gotten so expensive.
And Pell Grants to cover the cost of a four-year private college aren’t stretching as far as they used to.