According to estimates, student loan debt is worth trillions of dollars and affects millions of people. According to the Federal Reserve, the average college debt among student loan borrowers in the U.S. is over $30,000 per student. That kind of number certainly affects the way that borrowers behave, especially in times of economic uncertainty.
Dr. Cliff Robb is faculty director for the Consumer Finance and Personal Financial Planning programs at the University of Wisconsin, Madison. As part of our #MoneyMonday series, he joined the show to discuss loan behavior and finance.
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