College debt now surpasses 1 trillion, reports the Consumer Financial Protection Bureau.

Stop for just a moment. Think about that number.

You actually can’t. Our brains are unable to comprehend the enormity of a trillion dollars.

The debt accumulated by American students has ballooned to this incomprehensible number due to tuition hikes and an increase in the number of individuals attending college.

In Maryland public tuition is slated to increase by up to 3% in the coming fiscal year.  In other states students could be socked with increases between 20% and 40%.

But if college grads are burdened with high student loans, could it dampen their future prospects? Will they be able to pay decent rent? A down payment for a first home?

There are some promoting the idea of forgiving the loans debts of American students in order to stimulate the economy. They even have an online petition you can sign if you support the cause.

Others think this is a terrible idea.

Your thoughts?