The cost of borrowing for student loans is set to hit a 16-year peak, with the interest rate on federal undergraduate loans anticipated to rise to 6.5% in July 🎓
The state of student loan debt in the US remains dire, and many are unaware of its severity. Current statistics reveal 👇
• Total student loan debt stands at $1.75 trillion.
• The average debt per borrower is $28,950.
• Federal student loans account for approximately 92% of all student debt.
• Over half of the students from public four-year colleges, about 55%, graduate with student loan debt.
