if youve ever had to stress about college debt, i’m here to tell you not to worry. in fact, college debt isn’t as bad as it seems. most people view debt leftover from college as good debt, and most college debt sob-stories are the few percent. i’m sure you’re wondering about the people who have over 100,000 dollars in debt, too, right? college is an investment in education, and getting a college degree on its own will get you an average income bump of 25% when you get a job. because a student loan increases a student’s overall worth, its considered a good debt. it can also be good for your credit score, which can qualify you for auto and home loans. besides, in the end, you got to go to college! people don’t like having home mortgages, but …show more content…
in reality, when you look at it statistically, those people only represent 3% of people in that age bracket. the average loan debt left over was $21,000, whereas that is just about 78% of an average car loan. however, you never hear about the crisis of car loans and elderly people being crippled by their debt. they also implied that student debt is preventing young people from buying homes. however, the rate at which homes are bought is actually returning from its damaged state. the reason for this is that younger people are aware of the trap that is home ownership, and don’t feel the need to buy a house so quickly. now, i admit that, to some degree, there is a student loan issue. not quite a crisis, but there are people who have been less than responsible with managing their debt. only 18% of young families have a debt of more than $8,500, and that hardly sounds like a crisis to me. the people who have debt left over aren’t very good at managing their debt. some college students, with smart living and a bit of thinking, can pay college loans off in under two years. the people who have over 100,000 dollars in debt only account for 1.2 % of the population who have student loans, most of which are doctors, lawyers or others who received graduate