Impact of Student Loan Debt

Corey Herman

Student debt has caused many negative effects in college students’ day to day lives. Student debt has been a rising problem in teens, which causes depression, and even the loss of their housing. The average student loan debt in 2019 was $1.41 trillion, a 6% increase from 2018 which was $1.06 trillion. In addition, many people are taking advantage of repayment plans with some longer repayment options. Rising tuition costs are causing huge concerns for those who want to pursue their dreams in college. Lastly, student loan debt affects whether a person qualifies for other forms of household credit.  Individuals should also know how much we are borrowing, or how much debt they are in before it is too late.