Students in the United States owed more than trillion dollars for education

The debts of Americans for training are growing, it is increasingly difficult for students to pay education loans, writes The Wall Street Journal . The amount that has to be paid by educational loans at the end of 2011 exceeded the trillion dollars - much more than previously considered.

The figure was published by the State Agency for Protection of Consumer Rights of Financial Services CFPB. The Federal Reserve Bank of New York previously called the amount 16% lower than the current one.

CFPB officials claim that the debt is growing for several reasons. Firstly, the number of Americans has grown up who believe that higher education will help them not be on the labor exchange.

Tuition fees are also growing - colleges refer to the reduction of funding funds. And finally, the number of students who took new loans increased, since they have nothing to pay interest on the old ones.

But since more and more young people intend to receive higher education and, accordingly, take more and large loans, they will need more time than representatives of older generations to take the next step - buy a house or marry. Graduates of colleges, burdened with debts, will have less opportunities to save money for an advance payment for the house or get the right to a mortgage.