Outstanding student loans in the U.S. will exceed one trillion dollars this year for the first time ever.
Some East Carolina University students we talked with say they blame state budget cuts for having to take out more loans. Students like freshman Stephen Salazar say they worry about how they're going to pay their loans off. "Just about everyone that I'm friends with has loans, and most don't know how they are going to pay them off once they graduate, but like me they are here to get a good education to get that high paying job."
The amount of new student loans taken out last year in the U.S. crossed the 100 billion dollar mark for the first time.
According to the college board, students are borrowing twice what they did a decade ago after adjusting for inflation.