Number of students with six-figure loans on the rise
While the average college student carries a loan of under six figures for their education, the number of those with more than $100,000 in debt is on the increase. According to an article on cnbc.com, “In the first quarter of 2019, over 6 percent of all student loan borrowers owed more than $100,000, up from 5.4 percent in 2017.”
The article goes on to cite instances of borrowers who owe as much as half a million on student loans, suggesting that the priority should be finding the best repayment plan and focusing on paying the loans with the highest interest rates to save money. Read the full article here.
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