Depending on Where You Teach, It Could Take 5 to 12 Years to Repay Your Debts

For educators, the state they teach in can affect how long it takes them to pay off their loans. In many states, teachers tend to spend years paying off their student loans because their salaries just aren’t as high as other jobs that need the same level of education. Plus, teachers’ paychecks are growing at a different pace than inflation.While teachers received an average increase of 2.6% in salary from 2022-2023, inflation is at 4% from 2022-2023.

When adjusted for inflation, the average teacher is making $3,644 less per year than 10 years ago.Some salary increases like those in New Mexico and Nevada are higher than others like Vermont and Alabama.In many states, teachers are not getting paid enough to keep the lights on, keep students educated, and keep their debts paid. And depending on where one teaches, paying off student loans may take a teacher more than twice as long as others.

In this article, sheds light on the duration and costs associated with paying off student loans on a Pay As You Earn Plan as a secondary school teacher across the U.S.

Please help put parents in charge of their child’s education by forwarding this article to other parents, family, friends and voters.

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