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Two-thirds of student loan borrowers have less than $1,000 in the bank, survey finds

Struggling to repay your student loans? You’re likely not alone.

Roughly 20% of student loan borrowers said they won’t be able to make their next payment and another 44% report it could be a challenge. That’s according to results of a survey released Thursday by Student Debt Crisis, an advocacy group, and Summer, a company offering free tips for students and borrowers on how to save on their loans.

The survey polled a specific set of borrowers — those who responded to a Student Debt Crisis email request to participate in the survey. But the more than 7,000 responses add texture to our understanding of the challenges student loan borrowers face and comes as borrower advocates worry about the fate of student loans amid proposed regulatory rollbacks.

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