Where We Live: Drowning In College Debt

As college students head back to school, many are facing massive debt from their school loans.  In fact, student loan debt has surpassed credit card debt for the first time. 

This trend is expected to continue, as college tuition increases faster, and financial aid does not. 

Outstanding student loans now amount to more than 800 billion dollars.   Some people see this as the next big debt bubble waiting to burst.

Coming up we’ll look at how students are paying for college.  Or not paying, as new data suggests that the number of borrowers defaulting on their student loans is growing, too. 

And we’ll also look what students are paying for.  On the heels of the recent US News and World Report college rankings, people are talking about schools in terms of their raw numbers.  But should you be picking your university based on what a magazine says? 

What do the rankings mean - and what schools are worth a lifetime of debt?