Student Debt Consequences

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Drowning in Debt: What are the Consequences of Student Loan Debt in the U.S.? Student loan debt has a big impact on students decisions, student debt influences a lot on how they spend their money. American Student Assistance (ASA) recently made a survey, with this survey they found out that the Students with loan debt are postponing important decisions in their lives. Many of the students that participated in the survey are waiting to buy a home, get married, have children, save for retirement, and some of them haven’t been able to enter the career field that they wanted all because of their debt. Student loans were created to help out students who want to go to college by giving them money that has to be paid back. Student loans are holding back borrowers instead of helping them become successful. Students loans were supposed to be a starter for social movement in students lives, but the only thing financial aid is doing is limiting borrowers abilities to become financially successful. The federal student loan…show more content…
The life delayed article suggested the following ideas for helping student borrowers with student loan and for those who already have a student debt loan: “ control the continuously escalating tuition fees, expand grant aid by all sources; for example federal, state, and private entities (not a unit of government), keep federal student loan interest rates low, and lastly prepare students to become smart borrowers by giving them more information about borrowing and guidance information on student loan.” These ideas would help students because their debt wouldn 't be as much and they would learn how to manage their money, this would also bring down the rate of how many students have postponed making big purchases such as buying a house or buying a car, and/or starting a
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