The cumulative federal student loan debt has surpassed $1.54 trillion, according to the latest data from the Department of Education.
The cumulative federal student loan debt has surpassed $1.54 trillion, according to the latest data from the Department of Education. That’s more than double what the balance was in 2010. Even adjusting for inflation, it is a 72% increase in the cumulative student loan balance. Over the past several years, the rising student loan balance has stirred a conversation about college affordability, but that conversation has mostly focused on eliminating tuition for students going forward. During the 2020 Democratic presidential primary, the conversation expanded to include ideas to cancel or forgive all or a portion of student loan debt. Senators Elizabeth Warren and Bernie Sanders introduced broad student debt cancellation plans in their respective campaigns that excited many student borrowers.
