Study Reveals Student Debt Totals, Default Rates Rise Sharply in Bay Area

A new study shows that Bay Area adults owed $26.6 billion in student debt in 2018, affecting around 12 percent of the region’s adults. The study also found a dramatic disparity in how student debt affects low-income people and communities of color. Its findings were highlighted by the Federal Reserve Bank of San Francisco during a Tuesday summit examining the student loan crisis. Also this week, Democratic presidential candidate Sen. Elizabeth Warren introduced a policy proposal to eliminate 95 percent of borrower’s student loan debt through a wealth tax. We’ll discuss the effects of student loan debt on the Bay Area, and consider how it should be addressed.