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One in five adult Americans carry education loan debt. The problem returned to the news headlines this week, whenever Democratic candidate that is presidential Elizabeth Warren of Massachusetts proposed canceling this financial obligation for longer than 40 million Us citizens. Listed here is a review of the landscape.

Up to 44.7 million Us americans have actually education loan financial obligation, relating to a 2018 report because of the Federal Reserve Bank of brand new York. The total level of pupil loan financial obligation is $1.47 trillion at the time of the termination of 2018 — significantly more than bank cards or automobile financing.

Many People in the us with pupil financial obligation are young. But grownups 60 and older — who either struggled to repay their very own loans or took on debt because of their young ones or grandchildren — will be the age that is fastest-growing among education loan borrowers. Read more