Dealing with student loan debt is tough. You’re probably no stranger to the student loan crisis we’re facing, as Americans now owe an incredible $1.3 trillion (and growing) in student loan debt – more than all our credit card debt or even our car loans.
Seven in 10 college students will leave school with loans in 2016, averaging a whopping $37,172 in student debt. But for those who pursued advanced degrees, switched majors, or went back to school, that number can be significantly higher. In fact, according to the Federal Reserve Board Survey of Consumer Finances, almost 19% of borrowers owe $50,000 or above (with 5.6% owing more than $100,000).
For some, student loans are a necessary burden throughout college that lead to a better paying job in the field of their choice. To others, student loans may have felt like free money in a sense, or just something to deal with after graduation. Whatever the case may be, student loan debt is leaving today’s college graduates burdened right from the start, drowning in debt — and stress. Read on to learn 15 strategies for paying off student loans.
Seven in 10 college students will leave school with loans in 2016, averaging a whopping $37,172 in student debt. But for those who pursued advanced degrees, switched majors, or went back to school, that number can be significantly higher. In fact, according to the Federal Reserve Board Survey of Consumer Finances, almost 19% of borrowers owe $50,000 or above (with 5.6% owing more than $100,000).
For some, student loans are a necessary burden throughout college that lead to a better paying job in the field of their choice. To others, student loans may have felt like free money in a sense, or just something to deal with after graduation. Whatever the case may be, student loan debt is leaving today’s college graduates burdened right from the start, drowning in debt — and stress. Read on to learn 15 strategies for paying off student loans.
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