The views expressed in Economy Matters are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.

Editor's note: Throughout Economy Matters, "Southeast" refers to the six states that, in whole or in part, make up the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee.

Financial Tips from the Atlanta Fed: Student Loan Basics

August 2, 2021

smiling graduates in their cap and gown

Nota del editor: Este artículo también está disponible en español.

Forty-five million Americans currently hold student loan debt, with an average balance of $32,000. At $1.6 trillion, it is now the biggest source of consumer debt after housing. Borrowing money for school can help you achieve your educational goals. However, being informed about your financing options helps you make a sound decision. Here are some strategies for minimizing your debt while pursuing your dreams.