Debunking the Myths Behind Student Loan Debt

June 15, 2018

College and graduate school have gotten so expensive, and lenders have been so willing to allow borrowers to put off repayment (and let the interest compound), that a few dozen Americans have managed to amass more than $1 million in student loan debt.  It’s tempting for journalists looking for attention- (and click-) grabbing stories to focus on that kind of eye-popping debt load. But Susan Dynarski, an educational economist at the University of Michigan, said that other striking numbers – such as the 40 million Americans who have some student loans (with a median balance of $14,400) –  are far more important and reflective of what’s really affecting Americans.  Dynarski warned journalists not to fall for common student loan “myths:” Instead, she shared four mythbusting facts about student loans.

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