WASHINGTON (AP) — A disturbing new phenomenon in the US is growing regarding the country 's crushing surge of student debt , now at $ 1.2tn , with school loans now spanning multiple generations of families . Weighed down by their own loans , many parents are now lacking the means to fund their children 's education , without sinking into further debt . Latest figures from The Associated Press show : school loans increasingly belong to Americans over 40 ; adults between the ages of ﻿35 to 50 owe as much as people fresh out of college ; and student debt is surpassing groceries as a primary expense for most borrowers , with the gap widening for younger families . Additionally , further data shows that the cost of paying back student loans is reducing the numbers now applying to students in the US . ﻿
A disturbing new phenomenon in the US is growing regarding the country 's crushing surge of student debt , now at $ 1.2tn , with school loans now spanning multiple generations of families . Weighed down by their own loans , many parents are now lacking the means to fund their children 's education , without sinking into further debt . Latest figures from The Associated Press show : school loans increasingly belong to Americans over 40 ; adults between the ages of ﻿35 to 50 owe as much as people fresh out of college ; and student debt is surpassing groceries as a primary expense for most borrowers , with the gap widening for younger families . Additionally , further data shows that the cost of paying back student loans is reducing the numbers now applying to students in the US . ﻿