To get a degree, students borrow more than they can handle

Not only do Americans' college student loans exceed their credit card debt, but the U.S. Secretary of Education expects students will soon default at the highest rate since 1998. Midmorning explores the lending practices that experts blame for student's struggle to pay back their loans.

Guests

• Erica Sandberg: Financial education director and co-host for the web-based video program Change Starts at Home, as well as a columnist and reporter for CreditCards.com. She is author of "Expecting Money: The Essential Financial Plan for New and Growing Families."
• Zac Bissonnette: Reporter with Daily Finance and author of "Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents." He is a senior at U. Mass.

Resources

• About Erica Sandberg
• Zac Bissonnette: "Student debt will ruin your life"