Are You Overwhelmed by Student Loans? Tell us about your experience.
At over a trillion dollars, student loan debt now tops what Americans owe on their credit cards. It’s no wonder since 2/3 of all undergrads graduate with an average of $25,000 debt. Students, graduates and parents are all feeling an overwhelming burden from the skyrocketing costs of tuition and fees and increasingly have no choice but to take out loans to help pay for college. Unlike some other debt choices, going to college is necessary for many careers and in order to earn a decent paycheck. However, huge student loan debt can have a lasting impact such as limiting what kind of education a student can afford and post college career choices and delaying important financial decisions like getting married or buying a house. For parents, student loan debt can make it difficult to meet other expenses and to save for retirement.
We want to hear from you. How has student loan debt affected you or your child? What kinds of tough decisions have you had to make in order to afford the high cost of going to college? Can you keep up with your student loan payments now that you’ve graduated? How will the doubling of the Stafford Student Loan interest rates or cuts to other financial aid programs affect you or your family?