Students striving towards higher education are taking out more student loans today, than ever, they are also living with record levels of unmanageable debt.
SAN ANTONIO, TX, USA, January 12, 2021 /EINPresswire.com/ — More than half of all American students are now acquiring debt to pay for college. The average student loan debt has now surpassed $37,500 in 2021, according to the Federal Reserve Bank. With current student loan levels surpassing $1.6 trillion. We are dealing with a crisis. This burden weighs heavily on the American economy. Student loan debt has more than doubled at private four-year schools, according to the College Board. The bottom line is that student loan borrowers who are unable to complete their college degrees are more likely to default, creating a burden to the American tax payor.
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Source: EIN Presswire