Tony Leahy is our guest blogger today. He is the Education Subgroup Chair of the Washington Attorney General’s Student Loan Workgroup, and Executive Director at CENTS (Consumer Education and Training Services Program) – a financial literacy organization. On April 22 he will be co-hosting a program on Student Loan Repayment and Options. For more information on student loan debt, check out this resource list.
It’s time we talk openly about student loans. Almost everyone knows an adult burdened by student loan debt. An article in the August 2016 edition of Consumer Reports magazine reported 42 million people owe $1.3 trillion in student debt and nearly 1 in 5 borrowers is in default. In other words, student loan debt is a national epidemic. We are seeing this play out locally as well.
“Many of Washington’s current and former students struggle under a heavy burden of student debt,” Washington Attorney General Bob Ferguson said. “There are many resources available to help these borrowers manager their loans.”