By Jennifer Iraheta-Delcid

Whether you want to become a teacher or a doctor, both require a degree and education. Students all over the U.S have been experiencing overwhelming stress with the fact that they owe so much money from their loans. Student loan debt has grown a huge amount over time. Those debts determine which dreams students can achieve and which ones will simply stay a dream.

Student loans have increased tremendously over the past few decades. For example, as of March 2023, around 44 million U.S borrowers owed more than $1.6 trillion in Federal student loans. The average total student debt continues to be about $30,000 dollars. In the 1980s and ’90s, many high school students did not attend colleges and universities and those who did less than half borrowed money. On the other hand, in 2022, almost two-thirds of high school graduates attended college and took out loans. Student debt surpasses auto and credit card debt which shows how tremendously it has grown.

Student debt affects more than your ability to independently cover your living expenses and enjoy a decent standard of living. It also affects your dreams and your mental health. While you worry about your academic performance and finding a well paying job, you also have to worry about paying back your student debt. Having to pay back your loans can take many years, which can force you to sacrifice your dream job for one that financially supports you better. Student loan debt can cause high levels of stress and worrying thoughts. This takes a big toll on your mental health and well being.

Student loan debt is a major problem in the U.S that I hope gets fixed. It affects many students’ ability to accomplish their dreams due to the large amount they have to pay back. It impacts their levels of stress and worry as many other expenses need to be paid. Paying the students’ debts through loan forgiveness or reducing the cost of higher education would boost the nation’s economy by a huge amount while also benefiting everyone.