A pressing issue to I want to write about in this blog post is student loan debt impact of students across multiple generations. Though many Americas believe that student loan debt a debt which you cannot file bankruptcy on is only a millennial and other later generations problem. It does have some impact on older generations like baby boomers the main people who don’t want to wipe out student debt and don’t care about the cost of college. They vote to make sure that millennials and to some effect themselves have to pay that off with no hope of getting help from the government.
Before the nay sayar say that why you are supposed to go to college and get a job and pay it off. They must consider how, and they don’t realize this a crisis student loan debt which is again you are unable to get rid of it like other debt is a crisis it has far surpassed credit card debt. In fact, according author Daniel Johnson, “The central problem for many is the accumulated student loan debt. At nearly $1.6 trillion, student loan debt exceeds accumulated car loans and even credit card debt. By almost any definition, this is a crisis: It is certainly a crisis for those with student loan debts whose repayment schedules span decades, with large monthly payments. It is also a crisis for lenders experiencing significant default rates and, perhaps, a crisis for the federal government, as it guarantees these student loans. Many argue that it is also a crisis for our nation’s economy; servicing this debt has a chilling effect on the sale of houses, cars, appliances, and furniture, as well as spending for vacations and luxury items.”
Also this is impacting everyone including old people according to Jason Love, “Baby Boomer Student Debt on the Rise Although student debt is rising among all generations, according to the Guardian report,4those age 60 to 69 have experienced a 72 percent increase in their loan balances over the last five years, the largest area of growth for student loan debt.” This important to note that with the cost of students loans and college this is causing the younger generation from moving out and opening their own business. This is making them stay home longer and hurting their contribution to American society at large as they are hurt from being tax contributor and innovators to help society advanced. This is very unfair to the younger generation who just want the same opportunity as the older generation like the earlier generation of the boomers and the silent generation who got to go to school for free or cheap and no student debt like this generation should.
Student Athletes getting Paid 