The Crushing Weight of Student Debt | Golden Age

Student debt has become a pervasive issue in the United States, with over 45 million borrowers owing a staggering $1.7 trillion in outstanding loans. The average student debt per borrower is around $31,300, with some graduates owing upwards of $100,000 or more. This crisis has far-reaching implications, from delayed homeownership and marriage to decreased economic mobility and increased mental health concerns. As of 2022, the federal student loan system has a vibe score of 22, indicating a highly negative cultural energy surrounding the topic. The controversy spectrum is high, with debates raging over issues like debt forgiveness, free college, and the role of private lenders. Key entities involved include the US Department of Education, the Federal Reserve, and advocacy groups like the Student Debt Crisis Center. Notable influencers on the topic include Senator Elizabeth Warren, who has proposed sweeping reforms to the student loan system, and economist Susan Dynarski, who has written extensively on the topic. The influence flow of ideas on student debt can be seen in the work of these individuals and organizations, shaping the national conversation on the issue.