One-Third of Americans Fear They'll Never Repay Their Student Loans
If you've been following the news, you're no doubt aware that the country is deep in the throes of a student debt crisis. Americans collectively owe upward of $1.4 trillion in loans, many of which stem from private lenders with crippling interest rates. And while the practice of borrowing for college has long existed, the problem has gotten worse in recent years.
Student loan debt climbed 250% over the past decade, leaving the average borrower on the hook for $26,700. The typical class of 2016 graduate, meanwhile, owes $10,000 more than that. It's not surprising, therefore, that 36% of Americans fear they'll never shake their student debt, according to a recent COUNTRY Financial study. And sadly, they're probably right, to an extent.
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Source: Fool.com
