Student Loan Debt Weighing Down a Generation

Americans are carrying $1.57 trillion in student debt. There are 44 million people, 65% of college graduates, whose monthly bills include another payment to a college loan. The average monthly payment is $393.

To put that $1.57 trillion in context, in 2003 student loan debt was collectively just over $200 million.

It’s an enormous burden that Millennials, and soon iGen, are going to have to bear for the rest of their lives, and some say the weight is so crushing they don’t think they’ll ever be able to pay all of it back.

A survey finds only 53% of student say they’re prepared to stay on top of their financial obligations.

Only 65% expect to be able to pay it off on time.

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