In Pennsylvania, the average student loan debt is $44,000, according to the New York Reserve’s statistics, while the national average is $35,900.
Penn State is one of the most expensive public universities in the country, and is the highest average student debt producer out of other Big Ten schools, coming in at $31,133.
Josh Crawford, chair of the Penn State College Republicans, said student loan debt is like a bubble, ready to pop just like the housing bubble did in 2007.
Crawford (senior-crime, law and justice) said because everyone owes too much money, the bubble is growing — but when it will pop, no one knows.
“The costs will have to drop, and when they do, things will flatten out and will become more stabilized,” he said.
Thompson said the issue of student debt is an important one that needs to be addressed, though he is not sure if anything concerning student loans will be voted on this year.