Following graduation, students are left with an average of $28,000 in debt and just ten years to pay it back. Young adults, Gen Zers in particular, are often forced to defer these loans, packing on interest rates that can add thousands more dollars and decades of repayment. But it’s not just bank accounts that suffer; with millions of Americans paying back student loans with little extra cash to spare, less money is moving around in the economy at large.
Worth more than the market value of both Microsoft and Facebook combined, the national student loan debt today is unprecedented, and it’s up to us to get it under control before it’s too late. Detailed in this infographic is more on the student loan crisis today and what it means for tomorrow.