Episode 11: Scary student loan stats and how to pay them off

A few weeks ago a friend of mine shared a really funny picture on Instagram, it said: “Dear student loans, thank you for getting me through college, I can never repay you.” I will admit it’s a pretty funny meme. But I don't necessarily think it's true. 

Student loan debt in the U.S. is out of control at an estimated $1.2 trillion. (source) Can your brain even fathom that number??

According to one report, 59 percent of the overall student loan debt is carried by people who didn’t even finish college. Also, student loan debt from those who didn’t finish school is less like to get paid off, which is both a sad and telling statement about the overall student loan “crisis.” 

But student loan debt can be paid off, and in less time than your loan terms indicate. The average debt carried by 2015 graduates (who took out loans) is $35,000. While that is a big number, it is still a number that can get paid off quickly if you have a plan. 

While I was fortunate enough to graduate from college with no debts, my husband took out student loans totaling about $20,000 it took us 8 years to pay them off, but at least, they’re gone now. 

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