Americans collectively owe $1.814 trillion in student loans, with an average balance of $42,673. John’s wife, part of a $300,000 household income, refuses to pay off her $6,500 student debt. Employers increasingly offer student-loan repayment programs, with 14% offering in 2024, up from 2019. Ramsey advises prioritizing debt payoff based on factors like interest rates, risk, and stress. A recent survey found that 13% of workers are most stressed about student-loan repayment. Moneywise prioritizes producing accurate and trustworthy content, using vetted sources and highlighting credible reporting. They are committed to transparency, accountability, and correcting errors openly. Stay informed with Moneywise’s free weekly newsletter.

Sources:
1. Education Data Initiative
2. The International Foundation of Employee Benefit Plans
3. Upsolve
4. John Hancock
5. Education Data Initiative
6. Empower

Read more at Yahoo Finance: Dave Ramsey aghast that NJ man’s wife keeps her $6.5K student loan around ‘like a pet’ just for ‘free money’