“I have $125,000 remaining in student debt, majority of which is private loans, and I’ve been out of college for 3 years now. I didn’t go to a fancy college, just a state school. I am currently in a job that doesn’t even technically require a college degree, making just enough to pay my monthly loan payments, with some assistance from my family…”
According to the Consumer Financial Protection Bureau, one major student loan servicer not only failed to make some of this information clear and understandable, they failed to provide it at all. This servicer is called Discover.
We asked our members a simple question: What would you do if your student loans were forgiven? Using our members’ amazing responses we put together this great list of things that borrowers could do with a little extra cash in their pockets. Isn’t it about time that we freed Americans from burdensome debt, and give them a chance to better contribute to society?
440,000- That’s how many home sales will not happen this year because of high levels of student loan debt, according to a report from John Burns Consulting, an Irvine-based firm that advises home builders. That’s equal to about 8% of all home sales, and enough to dent the housing industry by $83 billion a year.
Student Debt Crisis spoke with NBC News about the growing amount of U.S. singles. With student loan debt climbing, it is no surprise that borrowers’ lives are being negatively affected. From purchasing homes and cars, to starting a family, student debt is holding Americans back in more ways than you would expect!
Latest Articles on The Student Debt Crisis
Straight from those whose lives have been affected by the weight of student debt.
For those who don’t want to take action, go ahead. Go right ahead… In my opinion, I’d much rather find a way to ease the debt or die trying then to live life everyday knowing that I’ll keep owing money to a corrupt state of affairs.Drew
I graduated in 2007 with $108,000 and today it has ballooned to $145,00 (50k is federal, 95k is private). Over the past 7 years I have paid over $40,000 towards these loans with none of it touching the principal.Jennifer
I owed about 40k in student loans about half private half federal. Due to times of unemployment or underemployment I now owe about 50k. I have had times of making serious payments, but it never got me ahead of any of it.Alexander