College costs too much
Some 44 million borrowers in the U.S. owe a total of $1.5 trillion in education loans. Yes, “trillion” with a T.
In an article called “How Do Student Loans Work?,” Money Talks News founder Stacy Johnson notes that “the student debt burden is literally reshaping our economy.”
“For example, fewer people are buying houses because they can’t afford both a mortgage and their student loans,” Johnson says. “I’ve heard from so many people burdened by so much debt. It’s depressing.”
The Generation Z cohort has watched older brothers and sisters struggle to reconcile adulthood and independence with the need to pay off huge educational debts. It’s no wonder they’re wary about taking on this kind of obligation.