Student Loan | Student Loan Debt Hits Home For Bernanke

March 1, 2012 – 2:17 pm

The most interesting anecdote to come out of Federal Reserve Chairman Ben Bernanke ‘s semiannual testimony to Congress : His son, who is in medical school in New York, is likely to rack up $400,000 of student loan debt in the process of getting his degree.

The rapid growth of U.S. student loan debt, Mr. Bernanke said, required “careful oversight” from regulators.

The student loan tidbit wasn’t the only piece of “regular guy” information Mr. Bernanke divulged in today’s hearing. He also said he does his own grocery shopping.

As the Wall Street Journal reported in December, Mr. Bernanke has a $672,000 mortgage on the three bedroom townhouse he owns near Capitol Hill. He has refinanced that mortgage two times, most recently last September. Fortunately for him, his income-generating capacity is high, considering the book and speaking fees he has the potential to command when his term at the Fed is up in 2014.



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