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2021 numbers [1]: Average Student Loan Debt: $39,351 Median Student Loan Debt: $19,281 Average Student Loan Payment: $393 Median Student Loan Payment: $222
by ProfessorLayton 3y ago
2021 numbers [1]:
Average Student Loan Debt: $39,351
Median Student Loan Debt: $19,281
Average Student Loan Payment: $393
Median Student Loan Payment: $222
Half of student loans are $222/mo or less. I'd also like to mention that if student loans became a lot harder to come by, people like myself could not have afforded college.
[1] https://thecollegeinvestor.com/32031/average-student-loan-debt-by-year/ https://thecollegeinvestor.com/32031/average-student-loan-de...
- WithinReason 3y ago> if student loans became a lot harder to come by, people like myself could not have afforded college. Yes but why is that? all I paid for 5 years of university education was about $30 in administrative fees, and I have no complaints about its quality.
- ProfessorLayton 3y agoBecause access to cheap student loans is key to many of us being able to afford college? Tuition and even room + board aside, there's other costs like books ($$$), supplies, transport etc. that cost money — money that many from poor backgrounds don't have. Without being able to borrow (or making it very expensive to do so), it would require a part-time job on top of a full coursework, or taking longer to get a degree, which has it's own costs associated with it via lost earnings.