How much student loan debt is reasonable ? What happens when students borrow more for college than they can pay back ? Student loan debt has been expected to reach the one trillion dollar mark this Spring, and today was  noted at many activities across the nation as the day that it would happen.

Students protesting the student loan debt problem were at several different colleges today in an effort to draw attention to the dire situation of students leaving college with large debt that will seriously affect their lifestyle. The cost of college tuition has far exceed the rate of inflation, and students cannot work summer jobs to pay for college as their parents did.  College graduates may be in for a rude awakening when they realize that high balances on student loan debt will affect their ability to purchase a  car or a home and other consumer purchases that college graduates assume that they will be able to afford.

As it stands, on July 1 the interest rate on federal student  loans may double. Currently at 3.4 %,  federal student loans that originate after July 1 will have a 6.8% interest rate. President Obama has made Congress aware of his desire that this does not happen, but it is not his decision to make.

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