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800,000 Washington residents owe student-loan money — to the tune of $24B

Source Date: 
Friday, December 29, 2017

One of every seven adults in Washington owes money they borrowed to pay for college or career training, and taken all together, those borrowers owe more than $24 billion in student loans.

A report detailing student-loan indebtedness, released Thursday, forms the backdrop of a push by state Attorney General Bob Ferguson for legislation that would give college borrowers greater safeguards against deceptive loan practices. The bill, which died in the Senate after he requested it last year, would set new standards for student- loan servicers and give the state the authority to license and regulate those servicers.

"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich
The road to success is always under construction
– Lily Tomlin
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey