FinAid.org has an online Student Loan Debt Clock. The total debt reads more than $968,969,300,000 billion as of 7:21 MST January 3, 2012. The debt increases over $3,000 every second. Michelle Singletary, a syndicated columnist, says that the New York Federal Reserve Bank reports student loans now exceed credit card debt in the United States. Why do people buy more schooling than they can afford to buy? And who benefits immediately from those loans?