Did you know that Americans owe nearly 1.3 Trillion in student loan debt. The average class of 2016 graduates have $37,172 in student loans, 6% more than last year. Here's a general idea of student loan debt according to the Student Loan Hero.
- $1.26 Trillion in total U.S student loan debt
- 43.3 million Americans with student loan debt
- Student loan Delinquency rate of 11.6%
I'm sure you are stunned already at these numbers, here is a closer look at how students accumulate debt based on the type of school according to Student Loan Hero. 1.3 million students graduating with debt, increase from 1.1 million in 2008. 66 % of graduates from public colleges had loans, averaging $25,550. 75% from private nonprofit colleges had an average debt of $32,300, and 88% of graduates from for-profit colleges had an average loan debt up to $39,950.
Looking at these numbers how could you not stress. We all have hopes and dreams for our child's future. Life Insurance may help those hopes and dreams come true for your child - through every stage of their life.
With your Life Insurance policy you can access your cash value through policy loans and withdrawals to help you, or your children pay for college.