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Student loandebt has increased over time in U.S.
Pursuing higher education has also often meant adding on another type of debt burden.
Historical data shows how average student loan debt balances have increased faster than inflation.
Student debt has also grown to equal more than credit card and auto loan balances combined.
Student loan debt is the biggest form of debt after mortgages.
Average student loan debt balance has grown by nearly 92% since 2009, according to Experian data.
As of June 2022, the average student loan debt among consumers in the U.S. totaled $39,381, according to Experian.
Since the summer of 2012, the average student loan balance has grown much more rapidly
Joe Biden announcedon 24 August, that he would cancel $10,000 in student loan debt for earners below $125,000.