It's a fact. Student loan debt had now exceeded credit card debt in America. According to the Detroit Free Press student debt totals a whopping $850 billion while credit card debt reached a $827.8 billion in the month of July 2010 (1). A report on the United Press International, Inc. website suggested that the increase in student loan debt is due to the current economic downturn that has forced many students back to school and more specifically, back to the Financial Aid office for borrowing. According to the report, "student borrowing rose 25%, while "concurrently, the recession has weighed heavily on consumer spending" (1).

Watching Student Loan Debt Numbers Rise

Mark Kantrowitz, publisher of the FinAid.org website, a website that offers smart financial guidance for student loan debt, has created a Student Loan Debt Clock that tracks the increasing number of student debt in the U.S. second by second. Kantrowitz says that student loan debt is increasing an estimated "$2,853.88 per second" (2). That rate is pretty high, but is necessarily an all-around bad thing?

Investing in Education

Debt carries a negative connotation and according to many financial advisers, is a great thing to avoid. But when it comes to debt, taking out loans to fund an education is considered a "good debt" in many cases. Like taking out a mortgage to buy a house or a small business loan to start up your long dreamed of company, education is considered a great investment into your future (3). But Liz Puliiam Weston, online financial columnist and author of Easy Money: How to Simplify Your Finances and Get What You Want Out of Life , warns that students need to be realistic about entry level jobs and how much they will really be able to start paying off after their six months' grace period has passed and it is time to start to making that monthly payment (3).

• Bad Credit Loan Approval

• Home Loan 2c Dieteck

• Free Loan Scholarship Search

  FEDMONEY.org is a free online resource on all U.S. government student financial aid programs. Detailed information about over 240 loans and grants (scholarships ...

• Student School Loan

• Loan Non Qualifying