Video Credit- Anton Daniels, YouTube 2025
What a situation! Student debt levels in the United States is something else!
It's now normal to be tens of thousands of dollars in non-dischargeable debt when you graduate at 22.
As the economy softens, more and more people will head back to school as a sanctuary as they did in 2008 during the Great Recession. This will lead to an uptick in loan debt, and at the high interest rates we have now, payments will accelerate. Some students will pay more in their loan debt monthly than on a mortgage, thus putting more stress on the housing market and increasing demand for rent.
It used to be that Americans could afford school on grants and Summer work. Food for thought. These colleges are adding stress on people as they are subsidized by the United States government. They are wasteful and convey few skills to their graduates.