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Student loan debt is set to blow a hole in the housing market and U.S. economy in general, a Fed study says.
As student loans pass credit cards in consumer debt level, the CPFB hears of more problems with issuers.
Student loans are a $1 trillion market, but a college student shouldn't immediately surrender to the idea that it's a "necessary evil" for getting ahead.
The average student loan debt shot up by 5% in 2010 and is now approaching the $30,000 mark in several states.
Clients in financial straits who carry student debt may be eligible for loan payment reductions starting in July.
The Consumer Financial Protection Bureau, run by Richard Cordray, has added private student loans to the list of financial products it will target for reforms.
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