student loan debt now surpasses credit card debt in this country. considering how small the number of people who have student loan debt is, compared to those who have credit card debt, the truth about how much of this staggering debt weighs on such a small part of society is worrisome, to say the least.
this is obviously a very serious crisis in our country. addressing it tomorrow is not soon enough. many people do not know just how drastically graduating from college can change your financial well-being, even if you are lucky enough to land a job right away. it is not like credit card debt. filing for bankruptcy does nothing to change your duty to pay this monthly burden, a burden with interest that often surpasses the initial loan.
something needs to be done about this, and i think there is no better time than now.
student debt not only directly affects the students who take them out, but those who may have co-signed for them, such as family members or spouses. because of these heavy burdens, the student debt crisis also affects businesses that would otherwise profit from post-grad consumers. because our economy is a complex web that touches each and every individual in some way, this ultimately affects us all.
alleviating at least some of the pressure on the shoulders of this country’s graduates will undoubtedly give this struggling economy the boost it so desperately needs. if something is done about student loan debt, we will all benefit from it. every single one of us.
“default: a student loan documentary” is a relatively short account of what this crisis has done to a select group of graduates, sorting through the many issues involved and exposing aspects of it not known to many of us.
i am going to try to organize a public viewing of this film in my area (tampa, FL) and i hope others will do the same.