NORTHAMPTON, Mass. (WWLP) – Many students will feel the burden of their loans long after graduation. According to a new PEW research study 24%, or roughly 1 in 4 students, are expecting that their debt will ultimately be forgiven.
Other students told 22News they have a plan to pay back those loans, some students plan to only pay the minimum loan amount per month, and other students said they’ll get a job in college and save up to pay as much as they can.
Either way, the average dept students hold is about $27,000, and it keeps going up. One student here in the Five College area of Hampshire County told 22News their plan.
Katelyn Heath said, “I’ve been in school for five years now, so I’m accumulating a lot of student loans and I do plan on paying them back when the time comes; when I am finally finished with school, but it would be great if the government would forgive the loans.”
Across the country, the total outstanding student loan balances are at $1.12 trillion.