The Impact Of Student Debt

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One of the large, and growing, problems in the U.S. today is student loan debt. Most people don’t realize the significance of this issue unless they are directly affected by it because they don’t feel the burden it puts on a person. Not only is hurting those who have the debt, but now it is starting to affect institutions and the economy in America. It has major effects on family life, job opportunities, the U.S. economy, and the ability of a person to succeed in life. Some people have started notice the severity of this situation linking its cause to supply and demand, and also to the lack of state funding. With all of this mind the government has taken some action to help lower the burden of student debt, but it is still very prevalent in todays society. The impact that student debt is having is extremely important and shouldn’t be dismissed, especially because it will only continue to grow and worsen the issues it affects. One of the major repercussions of this issue is the affect it is having on a person’s family life. A person’s debt levels have had a huge impact on when and how people approach milestones and core financial decisions. People in their 20s and 30s have been putting off starting a family with the birth rate now at a record low for their ages. The average age for starting a family…show more content…
Some believe it comes down to the supply and demand and of a college education. It is generally believed that obtaining a college degree will allow a person to become successful in life and the workforce. Jobs today are also starting to require higher degrees of education, which only furthers the importance of a college education. This importance has caused there to be an unbroken increase in college attendance, even though the cost of college is rising. This gives the colleges power to increase the prices because they know there will always be a demand for
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