The Effects of Student Debt

...

apply for bigger expenditures, such as a car or a house, later in your adult life” (Hopkins). Hopkins point is that by paying back can be a way of building up credit which allows people to be able to buy houses, cars and necessities and also luxuries. Ones’ credit is increased when student loans are paid on time. A person’s credit is also boosted when the payment is more than what is due for that month.

While it is true that student loans can help build these graduates credit, while they are building this credit up, they are still not able to buy what they want. These payments are holding back for the time being. Building credit up enough to be able to buy such things as a house can take several years. They have to take the time to build this credit up so this is still a delay on them buying houses and cars.

Student loan debt has risen to be over $1 trillion in the U.S. and is the reason behind the delayed lives of college graduates. Graduates are realizing that that cannot really begin the life they imagined having after college. These graduates are no longer in a rush nor looking forward to starting up a family and building a house. Instead, they are trying to be financially stable and looking forward to getting the student loan debts off their shoulders. Student loan debt can take years to repay and when you mix the debts with marriage, family, a house, and other enjoyable life aspects, it can become very overwhelming. Young people are no longer purchasing homes, instead, they are waiting longer and longer because they want some type of stability first. Some graduates want to choose the route of becoming an entrepreneur and starting their own business up, but it is too high of a risk that they are not willing to take. People who are struggling with student loan debt are scared to make choices. They want to be able to make these kinds of choices but they are afraid of failing because they know that will just put them into even more debt. These people can even become successful because they are afraid of not achieving. These fears are holding these graduates back from the lives that they thought they would have no too long after graduating. Their dreams, aspirations and wants in life are delayed.

Works Cited

Farrington, Robert. "Student Loan Debt: The Best And Worst Debt To Have." Forbes. Forbes

Magazine, 21 Apr. 2014. Web. 25 Mar. 2016.

Hopkins, Katy. "Student Loans Pack Surprising Benefits If You Have a Financial Burden, It’s

Worthwhile to Look at Its Bright Sides, Too." US News. U.S.News & World Report, 31 Aug. 2011. Web. 25 Mar. 2016.

Lanza, Allesandra. "Study: Student Loan Borrowers Delaying Other Life Decisions." US News.

U.S.News & World Report, 20 Jan. 2016. Web. 25 Mar. 2016.

Pyke, Alan. "College Graduates Can’t Buy Houses Because They’re Buried In Debt."

ThinkProgress RSS. ThinkProgress RSS, 13 May 2014. Web. 25 Mar. 2016.

...