Why Student Debt Burden is Falling Like a Stone
Everyone talks about “rising student debt burdens” as if they are real. But they’re not. In fact, the burden of carrying a student loan has fallen significantly over the past decade. Student loan burden is best measured by looking at the percentage of monthly after-tax income that it takes to service a loan each month. This figure will therefore be affected by four different factors, namely: the size of student loan debt, interest rates, post-graduation income, and taxes. Here’s what’s happened