Student loan debt is a major problem in our country, but what many aren't aware of is how the cost of college has created a nasty cycle that's hard to break. Young adults want to continue their education in order to improve their professional opportunities, yet this often means taking on large amounts of student loans.
Then, once the student graduates, they are unable to find a job in their field that pays enough to cover those loans. That's when the trouble really starts for them financially. Now that many millennials are starting to think about starting families, they face the tough question of how to pay off their own college debt as well as save for their children's education.
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By looking at how young adults get caught in the student debt web, it becomes easier to see how to get away from the entire system. Thankfully, employers are coming to the rescue by offering 529 college savings benefit plans, and in some cases, even matching contributions.
Related: 10 best states for student loan debt
In this infographic from Gradvisor, an employee benefits company aimed at helping employers prepare workers for college costs and savings, we see the current state of the student debt crisis and what can be done to mitigate it with the help of 529 plans.
Image credit: Gradvisor
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