Sources for Journalists Looking to Report on the American Student Loan Debt Crisis
The student loan crisis has a chokehold over younger generations in the United States. The average student in the United States now holds over $37,000 in student loan debt, and the debt crisis has reached a fever pitch: $1.6 trillion is currently owed back to the government in student loans, which is more than credit card debt and auto loans across the nation. The issue affects over 19 million current students as well as some 30 million others who have already graduated.
The crisis has reached controversial debate terms as politicians in Washington scramble to reach a consensus on how to handle the debt crisis. Further left players have called for cancellation of student debt completely. Meanwhile, the government has slowly but surely begun implementing relief programs for some of its debtors, but the fixes are not yet far-reaching enough to make a significant dent in the numbers.
With the conversation getting hotter and fact getting harder to separate from heated opinion, what are a journalist’s best resources for reporting on the student loan crisis accurately and objectively?
DATA SOURCES
Education Data Initiative collects data on the US information system and presents them in several accessible formats. The website contains a number of sobering visual aids and bullet points surrounding the greater implications of the student debt crisis in the country, including how much money owed back in student prices is eclipsing the United States’ GDP. The website also offers student loan data by demographics.
Consumer Reports collects slightly more editorial data on the student loan crisis. As opposed to EDI, CR is driven by human stories on people being crushed by student loans, using statistics to back up its editorials. This is a good resource for reporting on the human toll of the debt crisis: a key piece that many miss as the human consequences are not readily apparent.
Student Loan Hero is a secondary compendium of information with several studies, key pieces of data, and editorial points available, along with sourcing for all empirical data. Student Loan Hero also contains sources of relief for borrowers who are suffering under extravagant personal loan payments.
COUNSELING SOURCES
The Institute Of Student Loan Advisors (TISLA) was a resource established to ensure students nationwide access to free and fair student loan advice. The institute, headed by Betsy Mayotte and Pat Torkildson, is based in Massachusetts and is committed to providing the most concise and clear information to borrowers. The site itself is a wealth of resources and contacting these two, who have worked in the student loan business for over two decades, is sure to wield some invaluable information.
Investopedia provides several outlines for moving forward with repayment options, which repayment options are best, how to get loans forgiven or refinanced, as well as connections with resources in which viewers can begin to build their financial health. The page is easily formatted with several resources available for addressing emergencies as well as longer term issues.
