Student loan debt problems are lurking on the horizon. Americans owe $1 trillion on college student loans, more than they owe on credit cards, which is too much. 2010 graduates owed $25,250 on average (up 5 percent from 2009). Parents of 2010 graduates owed $34,000 on average. More parents are going into debt to pay for their childrens’ college ? 17 percent in 2010 versus 5.6 percent in 1993. The default rate is 9 percent for a two-year period ending in 2010, up 2 percent from the previous period. A student who borrows $20,000 a year for four years will have a repayment obligation of $1,000 per month, as much as a small mortgage, according to one financial advisor. (“Student loans the ‘next debt bomb’ for U.S., attorneys warn,” InvestmentNews).