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.
