For example, student debt may reduce home ownership by limiting the borrower’s ability to qualify for a mortgage or save for a down payment. Outstanding student loans can limit a graduate’s ability to save enough capital to start a small business or access small business loans.Student loan payments can divert cash from retirement savings.
According to the Project on Student Debt “Two-thirds of college seniors who graduated in 2011 had student loan debt, with an average of $26,600 per borrower. Meanwhile, unemployment for young college graduates remained high at 8.8 percent in 2011.”
For information on managing student debt the Boston Public Library has:
American Student Assistance has a College Planning Center at the Boston Public Library.