scorecard7 grim facts about student loans that will make you feel less alone
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7 grim facts about student loans that will make you feel less alone

college graduate worried surprised

Chip Somodevilla/Getty

Student loan debt is one of the big factors standing in the way of millennials making the progress their parents' generation had. Many have said they've put off major life events like getting married, starting a family, or buying a house because of their debt.

While new studies from JP Morgan Chase and Student Loan Hero take different approaches to gathering and analyzing data, the two sets of data draw very similar conclusions. Both sets of data show just how dire the student loan problem has become in the US.

The JP Morgan Chase study looked at 39 million accounts which showed electronic transfers for student loan payments between October 2012 and July 2018. This study was able to include families who may be paying on behalf of students, as well as show how liquid assets, spending, and other habits changed.

The Student Loan Hero survey looked at 533 responses from those who had graduated within the past five years.

If you're struggling with student loan debt, these studies' findings make it clear: You're not alone.

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