It is not a secret that Americans owe around $1
It is not a secret that Americans owe around $1.4 trillion in student loan debt, spread throughout about 40 million borrowers. That is $620 billion more than the total U.S. credit card debt. In fact, the average Class of 2016 graduate has $37,100 in student loan debt, up six percent from the year prior according to Elyssa Kirkham from Student Loan Hero. As these student loan debt statistics show, the cost of attending college is becoming a burden for many Americans. From 1989-2010, the percentage of all households went from 9%-19% in having debt. Fewer people around the ages of 30 want to or can’t even afford a home according to the Federal Reserve Bank of New York.
