Student loans, which roughly 70% of college grads rely on to fund their education, have stifled the once promised pathway to a middle class life, according to a new report from nonpartisan research organization the Jain Family Institute. The report questions the assumption that student loans and the cost of college ultimately pays for itself in the long run as borrowers’ earning potential increases. It found that debtors have struggled to substantially pay down loans even 10 years after graduating. Looking at a cohort of borrowers from 2009, the report highlights that 50% of undergraduate debtors hadn’t repaid their loans. Across different types of loans, borrowers owed between 50% to 110% of their original loan 10 years after repayment began.
