Student Loan Debt is Hurting the Economy

Student Loan Debt is Hurting the Economy

Today 44.7 million People have student loan debt obligations (1) and the total amount of student loan debt is $1.47 trillion (end of 2018) This is more debt than all the credit cards and auto loans in the Nation and it is effecting more young people than older people who would have more experience with debt. These loans are based on a value. A value today and a value when you took out the loan. The financers of these loans made there money off the deal when they got your signature promising to pay. They cant give money away for free. New students borrowing will take advantage, they will go to college but take advantage.
The Economy is effected by the Rise of Student Loans in US. As they get more lenient on these student loans and even start forgiving the debt on this more people will apply and receive such loans causing a greater amount of debt the nation has to face.

Graduation Day

(1) according to 2018 report by the Federal Reserve Bank of New York.

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