If you’ve spent the last two-five years in college, you’ve probably accumulated student debt up to your eyeballs.
Well, you’re not alone.
In 1958, the National Defense Education Act was signed into law by former US President Dwight D. Eisenhower, allowing college students to borrow up to $1,000 from the federal government to assist them in paying tuition. Every year, countless students took out higher loans to pay for expenses — increasing student debt.
Since then, according to Experian, before the year 2020 hits, the total amount of outstanding student debt will hit over $1.41 trillion in the United States. 54 percent of college students are currently taking on student debt averaging $35,359.
It can be intimidating.