Most college graduates have one major thing in common: student debt. Today, 70 percent of college students graduate with a significant amount of loans.
Over 44 million Americans collectively hold nearly $1.5 trillion in student debt. That means that roughly one in four American adults are paying off student loans.
When they graduate, the average student loan borrower has $37,172 in student loans, a $20,000 increase from 13 years ago. With that money, borrowers could put a down payment on a home, purchase a new car or bootstrap their own business.