NEW YORK (FOX5NY.COM) - The amount of outstanding student loan debt right now in the United States has reached $1.5 trillion, more than double what it was 10 years ago. And the staggering figure is only expected to grow. Tens of millions of people can relate to the issue.
For example, Lauren Kim is a sophomore pursuing a degree in neuro research. she said she will graduate with a hefty debt burden, possibly as much as $100,000, which stresses her out.
Kim Churches is the CEO the American Association of University Women, which recently put out a report explaining that women are disproportionately affected by the student loan crisis. Women carry two-thirds of all student loan debt in the country. Churches said that means women, who make 80 cents on the dollar to men, have more debt and can't pay it off as fast.
One way some student debt holders are getting repayment assistance is through their employers.
Amy Stoldt, VP of people at on-demand fitness company Peloton, said that ever since the company began offering student loan debt repayment assistance last year, 20 percent of their employees have signed up.
Peloton is one of just 4 percent of companies offering student loan assistance, according to the Society for Human Resource Management. But as companies vie to recruit and retain top talent, Stoldt said she expects more of them will jump onboard.
Advocates for those with student loan debt say they'd like to see more private employers become part of the solution but they also say changes on the federal and state level must happen so that more loan repayment options are accessible to everyone.