People that have student loan debt have been coping with it the same way they have been for some time now. They have been dealing with it by taking decades to pay back student loans while putting their life on hold.
Large amounts of student loan debt are not uncommon today with the average around a little over $30,000 and 50k or more is not unusual. This has resulted in an average monthly student loan payment of $393. Moreover, this debt is now taking a bachelor's degree student over 21.1 years to pay it all off.
In this Smart Start Money podcast episode, I talk about how a growing number of college students are having to cope with a larger amount of school loan debt.
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