However, they are still less likely to earn this level of family income than young college graduates without outstanding student loans (77%).
(Family income captures more than just an individual’s personal returns from higher education, including the fact that college graduates are more likely to marry.) About three-in-ten young adults without a bachelor’s degree (31%) live in families earning less than $25,000, compared with 8% of young college graduates with student loans.
The assistant is called the Financial Awareness Counseling Tool (FACT), and it consists of a series of tutorials based on information from your own government loans, using that information to create a personalized analysis of your financial situation and offer appropriate advice.
You’ll have an opportunity to add financial details from other sources to the data used by FACT.
For many young adults, student loans are a way to make an otherwise unattainable education a reality.