Alabama’s Ranking for Student Loan Debt
A report released by The Institute for College Access and Success places Alabama ninth out of the top ten “High Debt” states with the average student loan debt at $31,000.
Unfortunately, Alabama is also one of only five states where the average school debt exceeds family income.
In addition, a new survey by Student Loan Debt Crisis states that approximately 20% of student-loan borrowers cannot afford their next payment and 44% state it will be a challenge. Even worse, more than 65% of borrowers have less $1,000 in their bank account.
Alexander Hernandez, Esq.
The FTC- Federal Trade Commission has reached agreement with student loan refinancer SoFi regarding misrepresenting how much student loan borrowers could save.
The Department of Education released data that shows how ineffective the student loan forgiveness program has been.
Student loans are the second highest household debt behind mortgages.
Alexander Hernandez has been representing clients since 1999 in the areas of bankruptcy, family law, and personal injury.
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