- Jan 2011
Its currently estimated at around $1.5 tn
U.S. Student Loan Debt Statistics for 2019 | Student Loan Hero
Then this story made the news
CORRECTED: College students are investing in bitcoin with financial aid money
That 20% of students were using these loans to invest in bitcoin... Then it appeared the story was a fake, or vastly exagerated.... However the wider point is that student loans ARE used for various things (investments, susbstitute for mortgages for those who dont qualify, etc...) by SOME of the "students"
Also because many of these loans are deferred payment, the outstanding amounts grow until students graduate, find a job and can start repaying...Some dont realize this