In the past decade, Americans took out close to five hundred billion dollars in student loans, and now collectively owe close to a trillion dollars in …
Source: Debt By Degrees – The New Yorker
I would add that the rising cost of college combined with the rising wage premium of that education/piece of paper is probably helping to decrease American’s wage and class mobility, as well as seriously hampering the finances of those still under the burden of tens of thousands of dollars in student loan debt.