According to statistics experts the year 2012 is going to see student loans debt surpassing one trillion U.S. dollars. Student loans are expected to surpass credit card debit for the second time in a row. According to current statistic results on student loans, about a third of university students needed to apply for financial aid. However as the world has currently been facing a global financial crisis over two thirds of university student now require financial assistance. This has lead to the average debt per student increasing from U.S. $12 000 to U.S. 25 000 in the last 10 years.