Student loan debt crisis deepens

44.5 million Americans collectively hold $1.5 trillion in student debt. Those 44.5 million borrowers have 3 general repayment options.

I personally had to finance the majority of my education with private student loans. I believe one of the largest and largely unspoken issues at hand is the student loan industry's ability to capitalize interest on our balances while we are in deferment during our education. I took out roughly $56k to finance my education at a private institution in Illinois. When I entered repayment my loan balance was $110k, due to the capitalization of interest. I work in the financial services industry, and know that I could have paid my interest while in deferment to avoid this scenario; however, the money we make and had saved only goes so far. The luster of the college degree dims with each passing day without education financing reform. #studentloans

See snowball rolling down a mountain. Affordability AND completion rates matter. #adaptivelearning is just one piece of the engagement, learning and performance puzzle. #CoverAllTheBases #GetJunction Hupalo agreed. “There’s a systemic problem in the student loan market that doesn’t exist in the other asset classes,” he said. “Students need to get a job that allows them to pay off their debt. The delinquency rate will rise as long as students aren’t graduating with degrees that pay back that cost.”

https://lnkd.in/gj-cgnM Bloomberg put out an excellent article today explaining the growing concern around student loan debt. Even if your child does not need to take out loans, the increasingly higher payments you are making toward their tuition is eating retirement dollars you could be saving. Parents need to be talking about the hard realities of college expenses with their wealth management professional, and starting the discussion early.

It's sad that so many enter the workforce in debt. Like with health care, the feds pump gazillions into student loans and prices keep going up.

The state of Maine wants to help you pay off your student debt.