Americans face difficulties when attempting to reduce their student loan payments in a time of distress, but also when trying to pay them off early....
Even as Americans as a whole have been paying off debt since Lehman's collapse, the debt owed by consumers who have been late paying their bills has increased....
A more difficult access to credit makes it harder for young borrowers to build their credit files, postponing the day when they become eligible for a mortgage....
A fifth of Americans aged 20 or older carry student debt and 57% of them are concerned that they may not be able to pay it back... And for good reason....
As of May 2013, the total of the outstanding student debt in the US was about $1.2 trillion. Just over $1 trillion is federal loans; the rest is private loans....