CFPB Finds Percentage of Borrowers with $20K in Student Debt Doubled Over Last Decade

Consumer Financial Protection Bureau press release August 16, 2017 ------ Today, the Consumer Financial Protection Bureau released a new data point finding that nearly half of student loan borrowers leave school owing at least $20,000 – double the share of borrowers a decade ago. The Bureau also found that more borrowers are taking out student loans later in life, and fewer borrowers are paying down their student debt in five years. Record student debt and associated borrower stress is spurring more employers to offer student loan repayment benefits to their employees, according to a separate CFPB report released today. This report features a series of recommendations to help employers and other companies that manage benefits programs ensure that borrowers receive the maximum value. To get more in depth information click on the picture below to read the release.