NOTRE DAME, Indiana (July 30, 2013) –United States’ student loan debt is at an all time high. The Federal Reserve of New York reports student loan debt at $966 billion as of the fourth quarter of 2012. This staggering amount surpasses both auto loan and credit cards, making student loan debt the largest form of consumer debt outside of mortgages.
Notre Dame FCU’s President and CEO, Tom Gryp commented, “We are in the Financial Empowerment Business. Many of our members expressed that overwhelming student loan debt was preventing them