The cost of college continues to expand with each passing year. With it, so does the amount of student loans being processed. It’s leading to an alarming amount of college debt that is hamstringing the life of graduates.
By now I’m sure you’ve heard the alarming student loan statistics. Americans now owe over $1.3 trillion in student loan debt. For the class of 2016, the average borrower will owe just over $37,000, a figure that is up 6% from last year.
But those are just your basic top line college debt statistics. They are the most visible numbers but they don’t tell the whole story. There are some hidden statistics (i.e. not usually reported) that highlight what this college debt is doing to students later in life. They show that virtually every decision in life can be impacted by college debt.
How College Debt Impacts Your Life