Persuasive Speech On Student Debt

Many of today’s millennials are burdened by heavy student debt that can lead to emotional and financial stress over the holiday shopping season. According to a 2016 survey from research agency TNS and Citizens Bank, adults between the ages of 18 and 35 have an average of $41,286.60 in student loan debt. That kind of debt can make it very hard for young people to hit other important milestones, like buying a home or even a car — let alone afford all the gifts of their loved ones’ holiday wish lists.

Here are some tips to help graduates balance between their holiday budgets and student loan debts.

1. Have a Positive Attitude

Yes, you may be in a large amount of student loan debt, but that’s ok. You’re not alone. There are many graduates out there in a similar situation as yourself. If you are comfortably making monthly payments on top of your other bills, then this is great news; you are in good debt! You are only building a solid credit history and you shouldn’t have any worries. (You can see how your student loans are affecting your credit by viewing two of your credit scores, updated every 14 days, for free on Credit.com.) Try not to look at the amount of debt you owe, this will only bring you down. Considering choosing an end date with your student loans (earlier than your term) to get you motivated.

Design a Holiday Budget (Your Student Loans Included)

This year’s holiday budget may be different than last if you now have the burden of student loans. You may have to make some sacrifices and limit yourself to a low budget per family member or friend. If you don’t have extra cash to spend, then you might want to consider cutting back on some non-essential expenses to put more money towards holiday spending. This may mean bringing a bag lunch to work instead of eating out or sacrificing some weekends to avoid social