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In June, 43.6 million Americans held federal student loan debt, with an average balance of $38,000 per borrower. In total, the U.S. has a collective balance of over $1.7 trillion in student loans ...
The average American household owes $58,957 in student loan debt, ... whether the couple lived together while the borrowing spouse was in school and whether the marriage benefited from the debt.
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In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
Public Service Loan Forgiveness. The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time ...
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [ 1]
However, the highest student loan debt is found in Maryland, a blue state, with an average of $43,000, indicating that students in some blue states may face particularly steep financial challenges ...
Parents are surveyed regarding topics such as marital status, income, age, occupation, and the types of financing used to pay for their child's postsecondary education. Financial Aid records are collected from the National Student Loan Data System (NSLDS). This data contains information about financial need (in the form of expected family ...