This article summarizes the problem with student loan debt in America today. The amount of student loan debt is growing at an all-time high and repayment is becoming tougher than ever for students.
I don't think that any type of debt is good, especially if it is not manageable. I think the problem today is that many graduates are unable to find work with a good salary to repay back this debt. Also, a high amount of this debt is incurred by college dropouts. It's obvious that most of them have probably not bettered their situation. Personally, I feel the student loan interest rates are out of control. I can finance a car for less than half the rate and finance a house for almost half the rate as well. Also, why can't the government pay our interest while we are in school? I would think that would be a huge help. In addition, I think the payment cap that has been put in to place will help lower monthly payments for those repaying, but I feel that if the interest rates were also dropped, then this debt would not feel like a never-ending curse.