College grads say student loan debt sets them back 10 years, according to survey

Student loan debt shackles Americans all over, but Texans have some of the highest student loan debt overall. According to the U.S. Department of Education, Texas borrowers have the second-largest amount of student loan debt in the country. Texas’ 3.8 million student loan borrowers owe a total of $127.3 billion, behind only California, which had a total of $149.7 billion.

This robust amount of debt holds people back from major-life investments like buying a home, starting a family and more.

According to a MarketWatch survey, several college graduates criticize student debt for their lack of financial progress. About 71% of recent grads with loans say their debt has set them back financially by at least a year. Among that group, the average grad says they’ve been set back 10.2 years.

Read more from the Austin American-Statesman.


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