Educational Technology

May 22, 2021

2021’s Cities with the Most & Least Student Debt

Filed under: Educational Technology — admin @ 12:40 am

Adam McCann, WalletHub

Post-college debts represent one of the biggest financial burdens to Americans. In fact, student loans make up the second highest form of household debt after mortgages, totaling a record $1.7 trillion. But how burdensome are the individual loans? The average student-loan balance in 2020 was nearly $39,000. High balances combined with a payoff timeline that lasts into middle age force many graduates to significantly delay or forego other financial goals such as saving for retirement or buying a home. Paying back student loans has also become even more difficult during the COVID-19 pandemic, though the government has allowed temporary forbearance on federal student loans.

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