2018 brought more student loan debt than ever.
In fact, the average graduate in the Class of 2017 was burdened with $39,400 of student loan debt. That’s up 6 percent from the previous year. It’s hard to believe that 44.2 million young Americans owe more than $1.48 trillion in student loan debt. As a matter of scale, that’s about $620 billion more than the total United States credit card debt.
Even more startling is the fact that 11.2 percent of those loans are currently in default or delinquent and another 14.1 percent are in deferment or forbearance. Young Americans are in financial trouble and the crisis grows more severe every year
Original content is the foundation of the Credit Monkey’s blog. However, when the Monkey find a story worth telling from another site, he shares it. The following video tells of the burden that face tens of millions of Americans, the struggle to pay student loans. The Monkey believes that student loan debt will be the next big consumer financial crisis in America.
This Consumer Reports video tells the story, It may be your story, but if it’s not, it’s the story of one of your friends or family
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