To the left is a monster and to the right, an open door. Through that open door is darkness. Whispers echo through the door from parents saying things like, “Just apply for some scholarships, that’s how I did it.” The monster whispers in your ear, “30 years, low-interest, you’ll pay it off in no time.”
Every year the monster demands more to repay the debt. His pockets are bulging with the accumulated credit of the poor souls that stood before him.
This monster is a metaphor for a very real problem: the student debt crisis.
While student loans offer a chance for individuals to pursue their education, this monster of debt grows bigger and bigger as students desperately pursue passions with uncertain futures. The sensation of hopelessness is daunting and persistent. As one moves into their future, it may seem that the looming presence of this debt is inescapable.
According to a Forbes article, it takes more than 10 years for the average graduate to pay off their loans, and according to a studentloanhero.com article, 11.2 percent of students with loans are financially delinquent (90+ days late on payment or in default). This adds to student anxieties about the long-term implications of student loans. In a survey of 1,000 students by studentloanhero.com, 70 percent of loan borrowers reported having debt-induced headaches.
But like any anxiety, student loans are defeatable. Little by little, students work to pay back these overwhelming student loans. Eventually the monster dies, and the student is free.
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