The Real Cause of The Student Debt Crisis

And How To Fix It

Photo by Honey Yanibel Minaya Cruz on Unsplash

The Student Loan Debt Problem

There has been no shortage of media coverage on the student debt problem in America but let’s quickly review the numbers.

• 7 out of 10 college students graduate with student loan debt
• The average student loan balance is more than $37,000
• Total student debt is more than $1.5 Trillion
• The delinquency rate (meaning 90 days late on payments) is at 11%

Starting your career with $37,000 or more in student debt is like carrying around a mini mortgage. Which is making it even more difficult for younger people to get an actual mortgage and own their own homes. The stress that comes with high levels of student debt is a contributing factor to why some are calling millennials the burnout generation.

The Real Reason Millennials are Burnt Out

Tuition Has Skyrocketed

Student debt has increased simply because the cost of tuition has increased.

• In 1988, the annual…