Student Debt

Tuition and Fee Accounts Sent to Debt Collections…. Explained

Tuition and Fee Accounts Sent to Debt Collections…. Explained

The state’s steadying disinvestment is one of the leading causes of the rising cost of public higher education in Virginia. This decline has resulted in shifting the responsibility for education-related costs at public institutions to students and their families, and sometimes causing them to struggle to meet their tuition needs without taking on large amounts of student debt...

Virginia's Student Debt Crisis: What Is It, How We Got Here, and What’s Next?

Virginia's Student Debt Crisis: What Is It, How We Got Here, and What’s Next?

Student debt is currently one of the major focal points in the larger conversation about the cost of college. To make college more accessible, students and their families have relied on loans to help finance their educations leading to what is now being described as the “student debt crisis”. At $1.5 trillion, student loan debt is now the second-largest source of consumer debt, behind home mortgages, surpassing credit card debt in the United States. The average bachelor’s degree graduate at one of Virginia’s four-year public institutions will walk away with approximately $30,000 in student loans. As startling as these number are, they do not tell the whole story of student loans or the student debt crisis.