Student Loans are a Big Deal!

According to the JPOP Morgan Guide to the markets, student debt represents 10% of all debts. This is now larger than credit card debt. According to the CFPB, Federal Reserve and the Institute for College Access and Success, over 65% of graduates carry student debt and it represent $1.46 trillion in total debt and the average loan balance is $28650. Many people are struggling with their debt with the average loan delinquency rate is as high as 11.5%. Having student debt holds people back from buying cars, homes and getting ahead. I thought that this recent Forbes article offered some helpful guidance on how to jumpstart efforts to pay down this debt:

https://www.forbes.com/sites/zackfriedman/2019/03/04/pay-off-student-loans-faster-in-2019/#52fff44f2604