Most people know that a college education is key to a successful career. Those who establish themselves in the corporate working world without an education are few and far between. Since the summer is sadly over and school has started back, KNCTR has released an infographic detailing the student debt situation.
The amount of outstanding student debt in the United States is approaching 1.2 trillion dollars and the average college student owes $24,301. Canada’s student debt isn’t a small number either at 15.1 million dollars with students expecting to graduate with an average of $26,297 in debt. For either of those, its enough to buy a brand new car.
Canadian students expect to pay off their loans in an average of 6.4 years while 2/3 of Americans are on the 10 year repayment plan. About 37,000,000 Americans have student debt, which is the equivalent of 512 Arizona State campuses.
Interested in learning what you can do to keep student debt to a minimum? Read on in the infographic below.