According to the most recent Survey of Consumer Finances, 37 % of households headed by an adult under age 40 have
outstanding student debt obligations (including loans in deferment as well as those currently being paid off), the highest share on record.
An analysis of the most recent Survey of Consumer Finances finds that households headed by a young, college - educated adult without
any student debt obligations have about seven times the typical net worth ($ 64,700) of households headed by a young, college - educated adult with student debt ($ 8,700).
Better rates make loan repayment easier, but it can be a challenge to secure the refinancing if your lender isn't sure you can maintain a strong income to repay
your student debt obligations.
Because of this, some private student loan borrowers may need a cosigner in order to refinance
their student debt obligations.
Although your financial situation with student loans may seem impossible and frustrating at first, by settling on some of the above strategies and remaining focused on your goal, you can rid yourself of
your student debt obligations faster than you think.
While Federal Student Loan programs can offer many benefits, they may not be able to solve all of your needs when it comes to paying down
your student debt obligations.
An analysis of the most recent Survey of Consumer Finances finds that households headed by a young, college - educated adult without
any student debt obligations have about seven times the typical net worth ($ 64,700) of households headed by a young, college - educated adult with student debt ($ 8,700).
However, it is important to understand that millennials (those in their early 20's) are not filing bankruptcy to get out of paying
their student debt obligation.