Student Loans: Do you know how much you owe?

, ,

The percentage of students who take loans in America is staggering. What is even more alarming is the percentage of those with student loans, so does the burden on students to pay them. This then leads to a never-ending cycle of debts. According to Forbes, in 2019, student loan debt is the highest it has ever been. It does not stop at that. It is reported to be the second-highest consumer debt category. This means that it is way ahead of debts due to credit cards and even auto loans.

Interestingly, this situation cuts across all age groups and demographics. A 2018 study conducted by the Federal Reserve Bank of New York found that more than 44.7 million Americans have student loan debts. Although it is safe to say that the bulk of these Americans  are young people, NBC News reports that there is another age group whose percentage is just as high as that of the young people. They are the geriatrics, adults aged 60 and above. How could this be? For some, it is the debts of their student loans that they are yet to pay up. For others, it is the debts they had to take on for either their children or grandchildren. These reasons and more are why there is a student loan debt accruing to about $1.6 trillion in America in 2019.

If you are one of these students in debt, we are going to guide you from loaning your future to owning your future.