This September, millions of young Americans will start college, but at what cost?
Each year, the collective student loan debt skyrockets as tuitions continue to rise and graduates compete for scarce jobs with stagnant wages. From 2011 to 2013, the amount of debt held by recent graduates increased a whopping 20 percent, reaching a total more than $1.2 trillion.
While Americans struggle to pay off their loans, big banks and financial institutions spend millions to influence elections and prevent policy solutions that might hinder their profits. Every year, Wall Street companies rake in almost $45 billion in revenue from higher education, largely derived from student loans.