$40.1 billion in federal student loans owed by 1.5 million Michiganders, feds say

$40.1 billion in federal student loans owed by 1.5 million Michiganders, feds say | MLive.com
"LANSING -- There are more than a million and a half people with federal student loans in Michigan who owe more than $40.1 billion, according to information from the White House.
The information was released Tuesday in conjunction with President Barack Obama's proposal of a Student Aid Bill of Rights in a speech at Georgia Tech University.
Nationwide, 70 percent of people who graduate with bachelor's degrees have debt, which averages $28,400.
In his speech, Obama said a college degree is the key to the middle class, but higher education has never been more expensive."