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Posted: 2019-09-09 14:06:30

About 45 million Americans have student loan debt, according to a 2018 analysis by the Federal Reserve Bank of New York.

And it all adds up to $1.6 trillion.

Student debt and what to do about it has already become a 2020 campaign issue. Sen. Elizabeth Warren of Massachusetts, for instance, has proposed a plan to cancel $640 billion in student loan debt, saying that the problem has reached a “crisis” level.

It wasn’t always this way. A number of colleges in the U.S. used to be tuition-free..

How did students start having to borrow so much to pay for college? Who can address the student debt crisis?

Produced by Paige Osburn.

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