Student Loans

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The number of borrowers behind on their loan payments has dropped to their lowest level in over a decade for both New York and Connecticut. According to the Federal Reserve Bank of New York, the percentage of consumers in distress has continued to fall since the 2008 financial crisis.

Seth Wenig / AP

Outstanding student debt in the U.S surpassed $1.5 trillion this year, and the percentage of students defaulting on their federal loans has been trending upward.

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Paying for college could get a little easier for some students in Connecticut. The state Senate passed a bill on Wednesday that would let undocumented students apply for financial aid programs administered by their college.

Carolyn Kaster / AP

U.S. Senator Chuck Schumer of New York has launched an online campaign to collect the stories of students and parents who are currently struggling, or have struggled, with student debt.

Schumer made the announcement on Monday. He said his statewide Internet campaign is a critical part of his push to tackle the issue of college affordability, now that the national student loan debt has grown beyond $1 trillion.

(AP Photo/Jacquelyn Martin)

Taking out a student loan was supposed to be a good investment in your future, but now that loan has turned into a long term debt.

Today, more and more Americans over 40 are still paying back their student loans. Their numbers have gone up significantly in the past 10 years.