Student loans are a major financial barrier. While some argue the real crisis is college completion, what’s really hurting millennials is rising tuition costs and accelerated inflation paired with stagnant wages. In fact, experts say wage growth can no longer keep up with inflation.
Several sources say the average student loan debt is $30,000, but many college grads have much bigger burdens. I graduated with more than $100,000 in student loan debt. My message to others: Paying off student loans may seem impossible, but researching, consulting with financial experts and making smart money moves has a big payoff.
– Robin Rectenwald, WordWrite Communications