More than 50% of Americans feel that the cost of higher education is out of hand, according to the most recent statistics from Bankrate. And it’s hardly surprising. As of mid-December, more than 43 million Americans have federal student loan debt, equaling a collective balance that exceeds $1.7 trillion.
After a three-year reprieve, federal student loan payments resumed on October 1, 2023. Some borrowers are choosing to defer their student loan payments while they work out a way to repay their loans and fit the payments into their budgets. Others are exploring 401(k) student loan matching.
