Realising The American Dream Again

Rising student debt is one of the creeping threats in the US. There are 45 million borrowers who collectively owe nearly $1.6 trillion in student loan debt in the U.S. Student loan debt is now the second highest consumer debt category – behind only mortgage debt – and higher than both credit cards and auto loans.

Struggle of Americans paying the education loan

Struggle of Americans repaying the educational loan

According to a CNN report published recently in Jan 20 states that in recent years, the number of students enrolled in higher education has declined and the cost of attending college has stabilized relative to people’s incomes, Moody’s analysts said. But borrowers have been slow to pay back their debt, meaning student loan balances will keep growing over the years.