Watch"Fareed Zakaria GPS," Sundays at 10 a.m. and 1 p.m. ET on CNN
When it comes to student debt in the United States, the numbers are truly staggering – in 2012, 71 percent of new bachelor’s degree graduates had debt, averaging over $29,000. Over the last ten years, student debt has quadrupled – topping $1 trillion.
Congress crafted legislation last month that would have allowed for refinancing of student loans at a lower rate, but it went nowhere – and President Obama’s recent executive action doesn’t full solve the problem.
Watch the video clip to find out how one city has been trying to solve the problem, and tune into the third installment of our Where America Works segment this Sunday on GPS.