It Takes Most Students Twice As Long As They Hoped To Pay Off Their Student Loans
by Tyler Durden
Jul 5, 2017 11:30 PM
About 70% of college students – equal to about 44 million Americans - owe a collective $1.4 trillion in student debt. And while the standard repayment plan for federal loans suggests that they should take no more than 10 years to pay back, in reality, it regularly takes twice that long.
“Research from Citizens Financial Group suggests that 60 percent of student debt borrowers expect to pay off their loans in their 40s. Data collected at the state level supports these findings. A study from the OneWisconsin Institute finds that it takes graduates of Wisconsin universities 19.7 years to pay off a bachelor's degree and 23 years to pay off a graduate degree.”
http://www.zerohedge.com/news/2017-07-05/it-takes-most-students-twice-long-they-hoped-pay-their-student-loans
