OpEd: Americans Are Drowning in $1.5 Trillion of Student Loan Debt. There’s One Easy Way Congress Could Help

08.27.19 · TIME

Every summer, college graduates around the country don their caps and gowns in celebration of a job well done, with the hopes of using their degrees to propel them into a successful career.

But for many young Americans entering the workplace, that first job will also bring with it the first payment on tens of thousands of dollars of student loan debt — debt that can take them decades to pay off.

While college is certainly not the only path to a good job, the fact is more than half of all jobs paying over $35,000 require a bachelor’s degree or higher — and that number is only expected to grow.

Americans are following the money. Today more than 44 million Americans have outstanding student loan debt, which has become the one of the biggest consumer debt categories. All told, student debt in the U.S. now totals more than $1.5 trillion.


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