This is the MUST READ of the week, and it made me physically sick. It’s easy to look at the student loan bubble from a macroeconomic standpoint and realize it’s bad for the economy without ever considering the human cost, but not after reading this.
As a financial advisor, a week doesn’t go by that I don’t sit down with someone buried in student loan debt. With the average undergrad debt in 2016 topping $37,000, multiple generations of Americans are doomed financially. Truly. If you’re just starting your professional life and it’s going to take at least $50,000 in hard cash for you to get back to zero, you are potentially facing a lifetime of debt service.