U-M, Elon University researchers say federal government, not banks, should handle student loans | MLive.com: "Seven out of 10 people who graduated from a four-year college last year did so with student loan debt, according to The Institute for College Access and Success' Project on Student Debt.
The average debt was more than $29,000 per grad.
Also, more than 40 million Americans owe a total of $1.2 trillion in student loan debt, which accounts nearly 7 percent of the $17.6 trillion national debt.
Two researchers from the University of Michigan and Elon University believe they've found the solution to the rising student debt crisis: let the federal government, rather than private banks, handle student loans."
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