Student loan debt in the U.S. is one of the hottest topics in the news today. Unfortunately, there are some pretty mind-boggling statistics:
- In 2016, student loan debt surpassed credit card debt in the nation with borrowers owing more than $1.3 trillion in educational loan debt
- 13 percent of borrowers defaulted on their federal student loans within the first two years of repayment.
- And, an unfortunate and troubling side effect: this crushing student loan debt is limiting the housing recovery’s momentum by undermining an entire generation of potential buyers.
If you’re one of the 53 million borrowers looking for student loan debt solutions, you’re far from alone. However, there are options. Student loan refinancing is currently available to help ease the burden of repayment.