ALL NEWS

Forgiveness of some loans barely touches how much student debt we owe

Aug 27, 2021, 11:00 AM
piggy bank with graduation cap next to money student loan debt...
Borrowers will be able to provide their financial information once an application is launched in the coming weeks. (Getty Images)
(Getty Images)

The US Department of Education canceled around $8.7 billion in student debt this year.  But that is just a drop in the bucket.

Student debt hit $1.5 trillion in 2020

The Cache Valley Daily reports overall college loan debt reached more than $1.5 trillion in 2020.  That’s from the US Census Bureau.  

Graduates in Utah hold the least amount of outstanding loans at $16,633. But debt burden is on the rise for students overall.

The median nationwide student debt in 2017 was $20,000.  Now, the average is closer to $29,000, according to the newspaper. 

However, people graduating from the higher echelon schools, such as Ivy League institutions, carry much higher debt on average. 

Read more:

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Today’s Top Stories

All News

Troy Dunn, founder of the Location Foundation, appears on an episode of Dr. Phil. Photo credit: Des...
Mark Jones

Locator Foundation working to reunite loved ones with one another

The Locator Foundation is working to reunite family members who have become separated from one another and haven't been able to reconnect.
1 day ago
Martin Gold, a visiting scholar with the Orrin G. Hatch Foundation, says the Filibuster is critical...
Mark Jones

Filibuster is critical if country is to maintain compromise, expert says

A visiting scholar to the Orrin G. Hatch Foundation told Inside Sources Friday how important the filibuster is to compromise.
1 day ago
Two hands holding a green plant by the soil above empty pots...
Michelle Lee

Transplanting houseplants? Here are some tips!

SALT LAKE CITY – If you’re growing houseplants, there’s something you need to be familiar with, and that is transplanting. Transplanting houseplants is something you have to do every so often, depending on the type of plant. “Some houseplants will go for several years without needing it, and others need to be transplanted at least […]
1 day ago
A new study finds that reports of bad weather and air actually decrease ridership on the UTA....
Devin Oldroyd

Relief from inversion and poor air quality may be in Utah’s near future

The Beehive State is in the middle of some thick inversion and poor air quality, but relief may be on the way according to the National Weather Service.
1 day ago
Salt Lake City Police say three sticks of dynamite were safely removed from a house this week by it...
Mark Jones

Three sticks of dynamite removed from Salt Lake City home

Three sticks of dynamite were removed from a Salt Lake City home on Wednesday, the SLCPD announced. The dynamite have been seized for investigation.
1 day ago
A study by Intermountain Health that spanned 40 years and sought answers about the health of people...
Simone Seikaly

Intermountain’s 40-year study provides insight into weight-loss surgery

In some cases the results from the weight-loss surgery study were expected. But at least one result could be a cause for alarm and caution.
1 day ago

Sponsored Articles

Banner with Cervical Cancer Awareness Realistic Ribbon...
Intermountain Health

Five Common Causes of Cervical Cancer – and What You Can Do to Lower Your Risk

January is National Cervical Cancer Awareness month and cancer experts at Intermountain Health are working to educate women about cervical cancer, the tests that can warn women about potential cancer, and the importance of vaccination.
Kid holding a cisco fish at winterfest...
Bear Lake Convention and Visitors Bureau

Get Ready for Fun at the 2023 Bear Lake Monster Winterfest

The Bear Lake Monster Winterfest is an annual weekend event jam-packed full of fun activities the whole family can enjoy. This year the event will be held from January 27-29 at the Utah Bear Lake State Park Marina and Sunrise Resort and Event Center in Garden City, Utah. 
happy friends with sparklers at christmas dinner...
Macey's

15 Easy Christmas Dinner Ideas

We’ve scoured the web for you and narrowed down a few of our favorite Christmas dinner ideas to make your planning easy. Choose from the dishes we’ve highlighted to plan your meal or start brainstorming your own meal plan a couple of weeks before to make sure you have time to shop and prepare.
Spicy Homemade Loaded Taters Tots...
Macey's

5 Game Day Snacks for the Whole Family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The Best Tools for Deaf and Hard-of-Hearing Workplace Success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Team supporters celebrating at a tailgate party...
Macey's

8 Delicious Tailgate Foods That Require Zero Prep Work

In a hurry? These 8 tailgate foods take zero prep work, so you can fuel up and get back to what matters most: getting hyped for your favorite
Forgiveness of some loans barely touches how much student debt we owe