The Reality of Student Debt Is Different From the Clichés

The cited research [1] must have been written by an auto dealership. They conclude that since the monthly payment-to-income ratio has not increased, that all is well.

Using their own data and a loan amortization calculator I conclude something quite different:

    1992
    Avg Graduate Debt: $20,000
    Avg Loan Length: 7.5 Years
    Avg APR: 8.3%
    Monthly Payment: $299
    Total Repayment: $26,933

    2010
    Avg Graduate Debt: $41,000
    Avg Loan Length: 13.4 Years
    Avg APR: 5.5%
    Monthly Payment: $360
    Total Repayment: $58,061

While the a $299/mo to $360/mo jump over the course of nearly 20 years is indeed small, I still think there's a serious issue here.

[1] http://www.brookings.edu/~/media/research/files/reports/2014...