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Soaring education loan financial obligation poses risk to nation’s future growth that is economic

Jorge Villalba had been a construction worker once the housing industry started slowing in 2005, and so the Glendale resident changed jobs and chose to purchase their future by visiting university.

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To date, the investment hasn’t paid down.

Villalba, 34, owes $158,000 in student education loans for their four-year level in multimedia, 3-D animation and graphics design at ITT Technical Institute. He is not earning enough to continue because of the payments, therefore the amount keeps increasing with interest.

He figured he’d get a fantastic job and spend down the loans.

“It hasn’t occurred by doing this, ” said Villalba, that is hitched with two young kids but can’t manage to go from their cramped apartment that is one-bedroom.