In 2022, Americans continue to be burdened by student loan debt.

Among the class of 2020, 55% of bachelor’s degree recipients took out student loans, graduating with an average of $28,400 in federal and private debt. And 14% of parents with students in the class of 2019 — the latest data available — took out an average of $37,200 in federal parent PLUS loans.

But there are more scary student loan debt statistics. Americans owe nearly $1.75 trillion in student loan debt, spread out among about 46 million borrowers. That’s about $440 billion more than the total U.S. auto loan debt.

(Data via the Federal Reserve, College Board and Saving for College)

While there is no magic solution to eliminate student loans, there are new approaches to enhance your tax strategy for paying down student loans. Additionally, there are smart approaches to planning for college especially in the constantly shifting educational landscape.

Don’t wait to develop a plan. Contact us today to schedule your no-cost consultation:

Email: info@JeffersonAssetManagement.com

Call:     434-566-3570

We look forward to speaking with you!