An Astounding Number Of Bankruptcies Are Being Driven By Student Loan Debt

By Hillary Hoffower

The student loan debt crisis in America continues to get uglier.

According to a new LendEDU study, 32% of consumers filing for Chapter 7 bankruptcy carry student loan debt. Of that group, student loan debt comprised 49% of their total debt on average.

As of 2019, student loan debt is at an all-time high with a national total of $1.5 trillion. According to Student Loan Hero, the average student-loan debt per graduating student in 2018 who took out loans was a whopping $29,800.

Source: Business Insider

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