Student loan debt continues to become more and more talked about in the media, and I found an article from JPMorgan Chase that indicated that student loan debt reached a total of $1.46 trillion as of December 31st, 2018. That was up 8.6% per year over the last decade.
What impact does this have on students?
In this report, they indicated that an estimated 2 million Millennials are living in rental housing, or they moved back in with their parents instead of owning a home due to the high student loan debt.
I feel that this ties in to a video I did a few weeks ago titled Rising Tuition Cost.
As your child or grandchild goes off to college, it’s important to remember these statistics because student loan debt can have a dramatic effect on them once they graduate college.
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