The student loan debt in the United States currently stands at around $ 1.6 trillion. This crisis is made worse by the fact that only a small fraction of the 45 million borrowers have been diligent in their repayment plans.
Well, there are varying justifications as to why much of the national student debt loan is still unpaid. Most borrowers remain committed to paying their student loans. However, unemployment and the high cost of living top the list of constraining factors when it comes to adhering to repayment plans.