We have a student loan crisis: Approximately 44 million borrowers collectively owe $1.5 trillion in student loan debt. The average student in the Class of 2017 has almost $40,000 in loans, and the number is much higher for those with graduate degrees. This creates indentured servants who are unable to build full lives, becoming “student loan zombies.” Significant college debt disrupts major life events, such as buying a house, getting married, having children and saving for retirement. It is hard to compete in a modern economy without a college degree, but it hard to build a prosperous future while carrying huge debt. We need a better way forward.
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