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...and why $1.5T is only the start of the student loan problem. The average student loan borrower is more than $30,000 in debt.
Maybe this represents your situation, maybe it doesn’t. Regardless, the repercussions of student debt touch every person because the impact of these loans can mean more than $4,000 owed per taxpaying American and significant headwinds to annual growth.
An extra $350 in student loan payments — the approximate payment for an average borrower — is less money injected into a local economy through eating out or shopping locally; it’s less trips that support tourism-driven regions; it’s less money saved for retirement.
Read Jordan Bean’s entire article here.
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