US Has a Record $1.7 Trillion In Student Loan Debt

student loan debt

As many as 45 million borrowers in the United States (US) owe a total of $1.7 trillion in student loan debts according to the latest student loan debt data for 2022.

Student Loan Debt Crisis

Student loan debt in the US has affected over 45 million Americans. Hope derived from the numerous 2020 campaign promises, but this has now turned into despair.

Nonetheless, economic uncertainty continues to skew the financial prospects of millions of people who are saddled with student debt. Consequently, Biden administration repeatedly postponed the issue. However, it has now set the educational loan repayment freeze to end in August prompted by the government's pandemic relief efforts.

Interestingly, this has surpassed credit card and vehicle debt to become the second-highest type of ...

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