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Clarise McCants

Think your student debt total is too much? Try multiplying it by four.

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While most of us can’t imagine how our debt could be any more financially damaging, a new study from Demos predicts that the real impact of student debt over a lifetime will be nearly four times the amount originally borrowed.

The Students Who Will (and Won’t) Get to DREAM In-State

Originally posted on The Equity Line

Every year, 65,000 undocumented students who have lived in the United States for at least five years graduate from high school. Only 5-10 percent of them, though, go on to college; the majority of these students either give up on their dreams or put them on hold because they are denied the opportunities for an affordable higher education.

This week, a bipartisan organization launched TheDream.US, a $25 billion scholarship fund that will provide full tuition for 1,000 undocumented students nationwide. Currently, because of their status, they are ineligible for federal financial aid (meaning no Pell Grants or low-interest loans), so this will help draw the bridge to college for many.

These are the faces of our student debt crisis.

Last week, President Obama signed the Bipartisan Student Loan Certainty Act into law, effectively guaranteeing potentially sky-high interest rates for future students. However, even though Congress made the wrong deal for students, student loan interest rates are really the symptom of a much larger disease. College costs too damn much! And, that’s the real issue affecting millions of Americans.