Student Loans: 4 Surprising FactsThe latest student loan debt statistics show that 45 million borrowers collectively owe $1.6 trillion of student loan debt. Supporters of wide-scale student loan forgiveness cite, among other issues, the increase in total student loan debt, the impact on family formation and home ownership, the high rejection rate for student loan forgiveness, the difficulty of student loan discharge in bankruptcy, and the challenges with student loan servicers. Consider these two student loan debt statistics: a) 30% of college students graduate with no student loan debt; and b) 23% graduate with less than $20,000 of student loan debt. How To Pay Off Student LoansWhether you’re for or against student loan forgiveness, you need a student loan repayment strategy. Consolidate student loansFederal student loan consolidation enables you to combine your existing federal student loans into a single Direct Consolidation Loan.

Source: Forbes February 01, 2020 14:48 UTC