by Vanessa Miller, The Gazette
Tuition rates at public and private colleges and universities nationally — and in Iowa — have soared over the last two decades, driving student borrowing into the trillions and causing alarm across academia, a new federal report shows.
Student borrowers collectively owe more than $1.4 trillion in loan debt, according to the U.S. Consumer Financial Protection Bureau, which was created after the 2008 financial crisis. The bureau has received more than 50,000 complaints about the loans.
The bureau found there was $13.08 billion worth of outstanding student loan debt in Iowa on 2016, ranking the state 29th in the nation.
