One in four adults with student loans is struggling to pay their monthly student loan payment, and another 19% are having problems paying their mortgage or rent.
Nearly one in ten (9%) adults are currently re-paying student loans (6% their own, 3% their children’s). Of these, the majority (76%) say doing so has impacted their personal financial situation in some way.
Only 7 percent of borrowers in 2015 said they would recommend taking out student loans as a feasible way to finance an education. That number is down from 10 percent in 2014.
44 percent of US households are “liquid asset poor,” meaning they have less than three months of savings.
Only 50% of American families have more than three months’ worth of expenses saved for emergencies.