Americans took out $105 billion in student loans last year, twice the amount in inflation-adjusted dollars as in 1999. That makes student debt, as a category of consumer debt, second only to mortgages. Democratic presidential candidates are drawing applause by talking about free college and debt relief. As graduates toss their mortarboards in the air this month, here are five lasting misconceptions about the debt they’ll spend years or even decades paying back.
Five Myths About Student Debt
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