3/22/2012

The total U.S. student-loan debt, at more than $1 trillion, is 16% higher than an earlier estimate by the Federal Reserve Bank of New York, according to the Consumer Financial Protection Bureau. Student debt could hurt the housing market, said Rohit Chopra, the CFPB's student-loan ombudsman, at CBA's annual event, CBA LIVE. "Instead of saving for a down payment, these borrowers are sending big payments every month," he said. The bureau plans to release a study on student debt this summer.

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