There is currently $1.6 trillion in outstanding student loan debt. That figure has nearly doubled over the course of the past 10 years. 44 million Americans carry student loan debt, and one in four of those borrowers are struggling with their payments. Millions of student loan borrowers are putting off critical life decisions such as home purchases, marriage, having children, and saving for retirement.
The scope of the problem is only aggravated further by a sprawling and dysfunctional student loan system, skyrocketing higher education costs, uniquely restrictive rights and options for borrowers, and poor government oversight.
Can the system be fixed? Yes. Here’s how.Read More