Average Student Loan Debt
It's pretty sad that we even have to talk about average student loan debt nowadays. More loans are being taken out than this country can even afford, let alone these students being able to afford it. Most major banks received government bailouts when the government can't even afford it. Our country continues to keep printing money and the value of our US dollar is going down the drain FAST! In this article we will be going over the average student loan debt and one fast growing way you can manage your debt easier. So what are the real numbers when it comes to average student loan debt and can it be fixed? Let's find out...
Average Student Loan Debt - What are the statistics?
It's no surprise that the average student loan debt numbers are high. The only advice I can give is how STUDENTS can fix their student loan debt, but unfortunately that doesn't fix our country's currency value. Here are some statistics that I pulled up after doing some research.
"Two-thirds of college seniors who graduated in 2011 had student loan debt, with an average of $26,600 per borrower. Meanwhile, unemployment for young college graduates remained high at 8.8 percent in 2011." - http://projectonstudentdebt.org
Huffington Post gives a list of articles on student loan debt that crushes recent college graduates, Youtube has hundreds of testimonial videos of students expressing their student loan debt problems. You don't have to go very far to find out how bad it is.
So I did some math. If the average student loan debt per borrower is $26,660, (I used to be above average) and there are approximately 37 million student loan borrowers with outstanding student loans today, that equals to be about $986,420,000,000. We almost hit a trillion my friends. That's about 6% of the national debt which is over 16 trillion now (these are rough figures). 6% average student loan debt may not seem like much, but that's still almost 1 trillion dollars our country could have.
Average Student Loan Debt - Ways to manage your debt
I can't tell you that this article will take care of our countries' average student loan debt, but I can tell you that this helped me pay my loans much easier. I am now loan free because of it. Back in March a friend introduced me to Motor Club of America. A roadside assistance company that pays it's members very well for referring others to the program. I was skeptical at first, but after doing the proper amount of research, it was a no brainer. I joined MCA and worked hard at it. I wanted to make sure I didn't miss another payment ever again. Not only did I stop missing payments, I also was able to quit my day job and do this full time.
I never thought it would come to this, it wasn't really my intention. I just wanted to make some extra money so I could live a little easier. I soon began to realize this was a bigger deal than I originally thought. MCA has changed my life and it is allowing me to live life the way I want.
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I hope that this article informed you on how bad our average student loan debt is getting and how you can manage yours!
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