By Sana Cole
The Scene staff
The Federal Reserve Bank of St. Louis will host a symposium on Nov. 18 to discuss the future of student loans.
“Student-loan debt now tops $1 trillion and is expected to continue to grow rapidly,” said organizer Ray Boshara, director of the bank’s Center for Household Financial Stability who oversees student loans.
The public is invited to attend the symposium, which is co-sponsored by Washington University.
Hours are 11:30 a.m. to 5:30 p.m. at the Federal Reserve Bank, Broadway and Locust Street. It will include lunch, a research panel and roundtable discussion.
The keynote speaker will be Consumer Financial Protection Bureau Assistant Director and Student Loan Ombudsman Rohit Chopra.
Education and financial experts also will discuss debt issues and share ways to address problems.
The average student debt of people ages 25 to 34 increased about 120 percent between 2005 and 2013 in Missouri, according to Boshara. It’s believed this hurt economic growth.
“The average student debt per borrower grew from $16,000 in 2005 to $25,000 in 2012,” Boshara said. “Addressing rising student-loan debt is critical, given the damaging effects of student loans on homeownership, business startups, retirement and employment.”
The cost for attending the symposium is $15 for students and $50 for the general public. The registration deadline is Nov. 13. For more information, visit www.stlouisfed.org/hfs