The 17 Charts That Tell You Everything You Need To Know About The Student Loan Crisis

On July 1, interest rates on new federal student loans doubled from 3.4% to 6.8%.

Politicians in both parties say they want to fix the interest rate jump, but they can't agree on exactly how to do so.

Student loan balances have soared over the last decade, even as other kinds of consumer debt have declined. Students have been borrowing more and more to cover rapidly rising tuition.

The student debt burden is a key factor slowing the recovery: Young professionals, burdened with student loans, cannot afford to buy homes and take out mortgages.

Higher interest rates will further exacerbate that problem.

Here, we'll take a look at why student loan debt has grown and how different politicians propose to provide relief.