By now, almost Americans are aware of the growing amount of student debt many folks are carrying. In fact, according to a report from LendingTree, the total U.S. student loan debt reached $1.5 trillion earlier this year, up around $600 billion 10 years ago. They also cite data from the Pew Research Center revealing that 37% of adults under 30 have at least some student debt. No doubt about it, all this debt has a big impact on whether someone is able to buy a home or chooses to rent.
“Incurring student debt isn’t necessarily a bad thing, and the return on investment — for those who leave school with degrees that are valued in the marketplace — is generally well worth it. The biggest problems tend to arise when people take on debt to attend programs they don’t complete or aren’t properly accredited or are generally unethical.”