Rising student loan debt is becoming a pressing issue in today's day and age. The increase in loan debt correlated to increasing tuition and costs of higher education. The average total price of attending both public and private universities has increased every year since 2002. 

 

In regards to student loan volume, the increase from $23 billion in 1992 to $100 billion in 2007-08, with about $25 billion in 2007-08 borrowed from private loan sources.

 

in 2012, 71% of students graduating from four-year colleges had student loan debt  

 

Among students at public and private non profiit institiutions, the most frequent borrowers were lower income dependent students at private nonprofit institutions. 

 

In the state of Illinois, education beyond high school, especially at a college or university, should be accessible to anyone despite costs