The latest student loan debt statistics show that 45 million borrowers collectively owe $1.6 trillion of student loan debt. Today, according to Make Lemonade, student loan debt is the second highest category of consumer debt behind mortgages. Certainly, each borrower’s financial situation is unique. Supporters of wide-scale student loan forgiveness cite, among other issues, the increase in total student loan debt, the impact on family formation and home ownership, the high rejection rate for student loan forgiveness, the difficulty of student loan discharge in bankruptcy, and the challenges with student loan servicers.
How To Pay Off Student Loans
Whether you’re for or against student loan forgiveness, you need a student loan repayment strategy. Here’s a helpful framework to pay off student loans.
— Read on http://www.forbes.com/sites/zackfriedman/2020/02/01/do-you-really-need-student-loan-forgiveness/