For many, college is a door to a prosperous future, and it elevates feelings of excitement and brings a taste of freedom. It’s a younger student’s chance to become an adult, learning both life and book smarts. It’s an older student’s opportunity to broaden their horizons and grow their passion or career. For whoever is paying for college, it’s often a wave of financial stress and uncertainty. When Americans owe a collective $1.5 trillion in student debt, you’re probably wondering how to save for college.
Student loans make up 11 percent of the cumulative debt in the U.S., surpassing auto loans and credit card debt, and they maintain the highest rate of delinquency across all debt types. That’s no surprise when 43 percent of adults who attend college incur some amount of debt, and 24 percent of those have depended on credit cards to pay for school.
In 2018–19, … Read the rest