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How Much Do You Know About Student Debt in the US?

What is student debt?
Student debt is money you borrow from a financial institution to pay for your education. Once you have graduated or left school, you will then need to begin repayment of your student loan, plus interest. Depending on the amount of money borrowed and the terms of your loan, this can be a significant financial burden. For many people, student debt is the largest debt they will ever carry.

Why is student debt a problem?
There are a number of reasons why student debt has become a problem in the United States. First, the cost of college has been rising faster than the rate of inflation for many years. This means that more and more students are taking out loans to pay for their education, and the amount they are borrowing is increasing.

Second, the job market has been increasingly competitive in recent years. This means that many graduates are finding it difficult to find jobs that will allow them to repay their loans.

Third, the interest rates on student loans have been rising. This means that the cost of repaying these loans is increasing, and it is becoming more difficult for borrowers to make their payments.

Finally, the number of defaulted student loans is increasing. This means that more and more people are not able to repay their loans, and the government is forced to take action to recover the money it is owed.