By Senator Sherrod Brown:

Even though new graduates are entering into a better economic climate and better job prospects, their heavy debt burden means fewer of them can afford to buy a home, start a business or continue on to graduate school.

Historically, higher education leads to higher wages. Today, however, higher education also means higher levels of debt. Student loan debt now exceeds $1 trillion – more than credit card debt and more than auto loans. In fact, student loans are second only to mortgage debt in this country.

According to the Wall Street Journal, the average borrower earning a bachelor’s degree in 2013 has $30,000 in student loan debt.