Student loans: the new debt crisis

EUGENE, Ore. - College loans area burden heavier than the books students carry in their backpacks: student loans are now the largest source of consumer debt.

Senator Ron Wyden, D-Oregon, came face to face with student reality around the table with over a dozen students Wednesday. He said Congress has to help hold the line on student debt "so you don't have students leaving this campus with this gigantic boulder on their back."

Students told Wyden the weight of debt is taking away future education opportunities.

"Just the pressure from finances and parents has sort of pushed me towards moving back home and starting to find a job instead of continuing my education," said Marcus Triest, a senior at the University of Oregon.

Now 94 percent of undergraduate students have to borrow to pay for college.

Students told Wyden the last thing they need is higher interest rates on their loans, which will happen if Congress fails to act.

Bryan Boemder said he and his wife, both law students, have amassed student loans north of $200,000.

Starting a family is "just going to have to probably take a back seat until we're in a position to have a family, financially."

Junior Nikki Wyatt said any steps to control debt can't come too soon, with her loans so far totaling $40,000.

"I'm at the point where I'm going to be thrown into the world with or without the security of a job," Wyatt said, "and that's really scary."