Our College Students Now Owe Our Government and Banks about the Same Amount That Our Government Owes China

ACADEME BLOG

At the end of the 2013-2014 academic year, total outstanding student debt in the United States is estimated to be $1.08 trillion.

About.com, which is quoting information provided in U.S. Treasury reports [http://usgovinfo.about.com/od/moneymatters/ss/How-Much-US-Debt-Does-China-Own.htm], provides the following overview of who holds U.S. government debt:

“About 32 cents for every dollar of U.S. debt, or $4.6 trillion, is owned by the federal government in trust funds, for Social Security and other programs such as retirement accounts, according to the U.S. Department of the Treasury.

“The largest portion of U.S. debt, 68 cents for every dollar or about $10 trillion, is owned by individual investors, corporations, state and local governments and, yes, even foreign governments such as China that hold Treasury bills, notes and bonds.

“Foreign governments hold about 46 percent of all U.S. debt held by the public, more than $4.5 trillion. The largest foreign holder of U.S. debt is China…

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