From the Great Depression to the collapsed housing market, the United States has seen its share of economic crises. Today, we are faced with a national student loan debt of $1.4 trillion. For millions of Americans, this means lifelong debt, stunted milestones, and a stagnated economy.
The average college graduate walks away with around $28,500 worth of debt, with an average monthly payment of $393. Coincidentally, home ownership among young people has greatly decreased and 83% of people aged 22-35 who have not yet bought a house blame their student loan debt commitments. For the lucky ones, it takes twelve years after graduation to save for a 20% down payment on a home, but that’s just the tip of the economical iceberg.
The student loan bubble is only growing - here’s what we can do to overcome another financial crisis, detailed in this infographic.
Original source.
Image courtesy of Pexels
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
