Reducing The Burden Of Student Debt - 1526 Words

Student debt has been growing over the years rapidly, not just because the majority of people attending college but also because the prices of college have gone up. One of the reasons is that parents don’t really look into making a college fund. Most parents haven t saved a penny for education or for anything else in recent years. There has been so many students today that are in major debt and don’t know how to get out of the hole they have made. Student debt is still going up here recently in 2013. Graduating seniors at public and private nonprofit colleges have had student loans. Most of the students owe about the average of $28,400 in federal and private loans combined, there are at least around two percent compared to their peers.†¦show more content†¦Need to look for colleges that help users rely less on loans and if students do pay off their debt than there are a few more problems that start to come up. Help and make it easier for students to identify and also avoid colleges that tend to overload students with debt they tend to go to. Student loan payments are very expensive, and if most users have expensive payment with a job that doesn’t pay well and will start to slip financially. This will mainly cause a problem for more than just the people who give out the loans. If people don’t have money to spend on items that means a loss of jobs. This is because people wouldn’t buy items causing a surplus, will be leading to people getting laid off once again. With more people getting laid off from their jobs the unemployment rate g oes up, and more people would need help from the government to help pay for food and living. If the government has to help more people live than the national debt would go up possibly causing another depression. At the very least there would be a financial crisis that could lower the economic power of the United States. †Student loan debt is the highest kind of debt in the United States† The Project on Student Debt found that two-thirds of 2011 college graduates had an average student loan debt of