student loans

Lendingmemo, flickr

A Waukesha man has filed a petition with the U.S. Supreme Court  in hopes of having his student loans written off in bankruptcy court. The case calls into question the different standards used across the country.

The interest rate on student loans is set to double Monday, if Congress fails to act. Right now, the rate on federal Stafford loans is 3.4 percent, but it would jump to 6.8 percent.

Wisconsin ranked 16th in the nation for highest average debt among students who graduated from a 4-year college in 2011, according to a study released by the Institute for College Access and Success.

Graduating into Debt

May 10, 2013
Faith Lenard

May is a watershed month for graduating college students. Another will approach in six months, when those entering the work world must begin repaying student loans.

Americans carry more student debt than credit card debt, according to the Consumer Financial Protection Bureau. The UW System calculates the average undergraduate debt at more than $30,000.

Three UWM seniors realize they owe, although none seems sure of how much.

Whether you are in the process of paying back student loans or just beginning to figure out how to pay for college, there is no question it is expensive. The average cost of attending a four-year UW system school, including tuition, fees, room and board and books totals around $17,500 a year. The number of loans students have taken out over the past decade has tripled, and now account for more than a trillion dollars former students must repay. WUWM’s LaToya Dennis has learned about one specific factor that adds to the cost of a college education - students graduating with more credits than needed.