It s something that you acquire to basically be able to improve your situation, but it s something that is daunting, Layton said.
She s not alone. According to the Federal Reserve and educationdata.org, more than 42 million Americans owe about $1.7 trillion in federal student loan debt. The average debt amount is approximately $36,000 per student.
Layton s total comes in under the average, but still, she s thankful for the extension as are many graduates whose plans have changed because of COVID-19. Okay on top of this I have this student loan that I took out with the hopes of acquiring a really amazing job and I may not be able to get out in that job market right now because of the pandemic,” Layton said. “So being able to have that relief of additional months is a blessing I would say.