U.S. Student Loan Debt
Over the past decade, student loan debt in the United States has grown significantly, reaching unprecedented levels. According to data from the Federal Reserve, the total amount of outstanding student loan debt in the country surpassed $1.7 trillion in 2021, more than double the amount from a decade ago. This increase in student loan debt has been fueled by a combination of rising tuition costs, increasing numbers of students attending college, and a lack of government funding for higher education. As a result, many recent graduates are facing significant financial burdens, including high monthly payments, difficulty finding affordable housing, and delays in starting families or pursuing other life goals. The impact of student loan debt on the economy and the well-being of individuals is a growing concern, and there are ongoing discussions about potential solutions to address this issue. Including Debt forgiveness, resulting in US tax payer responsibility.