Paying for College

What's the value of a college education?

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Are student loans worth it?

According to a recent survey by Strada Education and Gallup, half of borrowers don't think so. Between April and December 2020, Strada Education and Gallup surveyed over 13,000 adults in the U.S. between the ages of 18 and 65 about their satisfaction with the value of their loans. Fifty-percent of all respondents said they did not think their loans were worth it. For Black and Latino respondents, the numbers were even lower; only 38 percent of Black borrowers and 47 percent of Latino borrowers felt their students loans had paid off.

The number of student loan borrowers has risen significantly in the last decade, and increased 51 percent since 2007. There are currently over 44 million student loan borrowers in the United States, and the balance Americans owe for student loans is on-track to exceed $2 trillion by 2022. The rising cost of college and stagnation of wages has made it necessary for many people to take out larger loans to pay for the cost of college, and many are still paying off their loans decades after graduation.

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