The Student Loan Debt Clock: $3,055 Per Second and Climbing

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$3,055.19 per second.

That’s right: With every tiny tick, the nation’s student debt skyrockets by more than $3K.

To bring that startlingly stat to life, MarketWatch has created a new custom clock—so you can watch the debt burden balloon in real time.

After all, while you may have heard before that Americans owe a total of $1.2 trillion in college loans, seeing that stat actually inch up helps to paint a more eye-catching portrait of the problem.

And, as MarketWatch notes, it’s not just grads who should care about the clock.

As research from the New York Federal Reserve reveals, with about 70% of students now graduating with debt, many are opting out of buying cars and houses—and thus undermining the nation’s economic growth.

Of course, while the clock helps to bring attention to the growing problem, this doesn’t mean that all student debt is disastrous. “The concern should not just be with the dollars of debt, but with who’s borrowing—whether they’re getting an education that serves them well and what it will mean for them in the future,” Sandy Baum, a senior fellow at the Urban Institute, an economic think tank, told MarketWatch.

To get a handle on your own student loan stat, follow this guide to paying down college debt—and check out whether your college ROI might make your degree worth it.

  • Rebecca

    It really doesn’t matter, after the fact, if the ROI on the college education is worth it or not. The debt still needs to be paid back.

    • Cerco

      No one can prove that it was paid and that any debt actually exists.

  • Debra

    Student debt is a great problem that is just growing. For the time being young adults have no options to solve this problem by their own. Moreover the prices for education are growing all the time too and students have the last option to get financial assistance from North’n'Loans to have spare money for commodities and other spending. The problem should be solved on the governmental level, as students need support and the educational system needs some changes. Also it’s necessary to have clear understanding of necessity of education to use it for job search.

    • Cerco

      I agree with you. It’s a grotesque system. I will no longer participate.

  • Cerco

    What justifys any profit at all into the system ? This is the people’s tax money paid by the working patent generation to back financing for the younger generation. Any profit by the government is absurd much less grotesque profit such as $50 Billion annually by the US Departmrnt of Education. What kind of a country does this to its young generations ?