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by mrep 3304 days ago
Average student debt in the US is only $37,172 [1] which is not insurmountable to pay off.

[1]: https://en.wikipedia.org/wiki/Student_debt#United_States

2 comments

Better than I thought, but the trend is not inspiring. 37k is already a lot, and it keeps raising. I think it used to be that if you work while you study and don't go to elite school, you can graduate with little to no debt, not the case anymore. It was $17k even in 2003[1]. Now 37k. In 10 years? Either the trend breaks downward very soon, or we're facing a major crisis there.

[1] http://www.onlinecolleges.net/student-debt-in-the-u-s-part-2...

The household total[0] is more than 30% higher though: $49,905. Combined with the average totals for other forms of debt, paying this off can end up stretched out over a long period of time.

[0]: https://www.nerdwallet.com/blog/average-credit-card-debt-hou...