"If you're only making the minimum payment, which is typically 1 percent of the balance plus interest, you're going to be in debt for literally decades."
"It is incredibly freeing to think about moving forward without this weight around my neck."
In some cities, the amount people owe on their credit cards went up by more than 10 percent this year.
"The system is too complicated, there are too many repayment programs and it's hard for borrowers to navigate."
How would it go down in your household?
"Student loan debt can be a great investment," explains self-made millionaire Ramit Sethi.
Ramit Sethi explains why having student loans is good for your future.
"Right now, I feel more financially competent and stable and well-set up than I ever have."
"Most people agreed there was no way we would ever be able to pay off our debt on our own."
More than 3,000 people default on their federal student loans every day.
Here's how it could cost you $20,000 or more.
Graduates in some Western states owe much less than the national average.
Tens of thousands of people who have defaulted on their private student loans might be in luck.
"It starts to feel like monopoly money," says Dr. Alyssa Savage on 'Death, Sex & Money.'
Here's where the median debt-to-earnings ratio is lowest.
Their top tip has nothing to do with tracking expenses or ditching credit cards.