Economics
Paying Off Student Loans Is Taking Much Longer Than Expected
- Average student debt has grown about 5% per year since 2008
- ‘Slow repayment has long-lasting consequences,’ the Fed says
Graduates.
Photographer: ROBYN BECK/AFPThis article is for subscribers only.
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Borrowers struggle to whittle down their school loan balances even when they make regular payments, according to the New York Federal Reserve.