It’s 2017, and Americans are carrying $1.4 TRILLION in student loan debt. These numbers have just been getting bigger and scarier, with the number of borrowers owing $100,000+ “quadrupling in the past decade.” This is the second largest source of debt in the United States; only mortgage debt exceeds it, and credit card debt is literally billions less.
MarketWatch.com breaks down these numbers by debt brackets and the socioeconomic backgrounds of borrowers; some disturbing trends come to light as we begin to see correlations between debt loads, income brackets, and economic circumstances. At this point, student loan debt in the U.S. is directly affecting home ownership rates. Read the full article here.