This week Patricia Sanders, a freelance financial writer offered to contribute a story about the student loan debt load problem.
How severe is student loan debt condition in our nation
Decades ago, college education cost was affordable for most of the students in our nation, but now the situation has changed. Presently, completing higher education is a matter of huge financial cost and next to impossible without taking out student loans.
As per recent data on student debt, almost 69% students, who completed graduation from public and non-profit colleges in 2014, have student loan debt. The debt amount was an average of $28,950 per borrower. From 2004 – 2014 the percentage of graduates with debt remain 65%-69%, but the average debt burden at the time of graduation has increased significantly.