From November 2013 through November 2014, the aggregate balance in the federal direct student loan program — as reported by the Monthly Treasury Statement — rose from $687,149,000,000 to $806,561,000,000, a one-year jump of $119,412,000,000.

The balance on all student loans, including those from private sources, exceeded a trillion dollars as of the end of the third quarter, according to the Federal Reserve Bank of New York.