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  • Writer's pictureNICKY

Is student loan debt a national crisis? Nearly half of borrowers think so

Updated: Nov 13, 2023

(TND) — Nearly half of current borrowers call student loan debt a national crisis, a new Bankrate survey found.

An equal share, 48%, of current borrowers also say the government hasn’t done enough to help people with college debt.

The Biden administration is pursuing other student loan cancellation plans after the president’s $400 billion plan to cancel or reduce federal student loan debts for millions of Americans was struck down by the Supreme Court.

Student loans total over $1.7 trillion in the United States, with previous Bankrate polling finding that folks with student debt have put off important financial decisions, such saving for retirement or buying a home.

Elbow Room is focused on eliminating student loan debt particularly for women with careers in public service, including education, nonprofit and government professionals. In addition, Elbow Room is on a mission to provide financial literacy education to break the cycle of student loan debt for all.
Elbow Room

Read full article here:

https://ktul.com/news/nation-world/is-student-loan-debt-a-national-crisis-nearly-half-of-borrowers-think-so-college-expenses-university-finances-money-education-earnings-bankrate-survey

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