Five Ways To Minimize Student Loan Debt

In a recent article on how to stop overpaying for college, I laid out some pretty troubling statistics on our current student loan debt crisis. This includes the fact that cumulative student debt for Americans is currently at $1.75 trillion dollars, with $28,950 owed per borrower on average. Within that amount, around 92% of student loans were federal in 2023, and the rest of the debt came from private student loans.

Of course, student loan data shows plenty more worrisome trends. For example, students in some states had much higher debt levels with New Hampshire and Delaware students leading the pack with average debt of $39,928 and $39,705, respectively.