Student loan debt in the United States is no joke. The total amount of debt has tripled since 2005 with college graduates and former students owing a jaw-dropping $1.6 trillion. Student loan debt is only surpassed by mortgage debt in the U.S.
The debt burden today’s college grads are carrying is actually changing the way millennials live their lives when compared to previous generations. Some have delayed marriage, put off buying a home, and even foregone having children due to their student loan burdens.