The Burden of School Loans

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The burden of School Loans
The problem of the student loan burden affects many people in the United States. According to Federal Student Aid (2022), about 43 million borrowers owe approximately $1.6 trillion in loan debt. Thus, the federal loan for students has increased the burden on them, especially those unable to secure employment or finish their education programs. Despite the government's sporadic effort to intervene by granting debt relief, there seems to be no long-lasting solution to the problem. Therefore, people miss the economic benefits that a college education provides due to fear of facing difficulties associated with reimbursing student loans.
The student loan burden has numerous negative consequences for individuals, eventually affecting the country's economy. People strained with student loans can barely purchase a decent home, invest, or save for their retirement adequately. Consequen...