Student loan debt is crippling the younger generation in this country. A bachelor's degree is required for most jobs, and is considered by many an absolute necessity. In order to complete a college degree, nearly 60% of students must take out student loans. This mountain of debt is damaging, both on a personal level and on a national level. The estimate on the total amount of student loans varies from $902 billion dollars, according to the Federal Reserve Bank of New York, all the way up to $1 trillion dollars reported by the Consumer Finance Protection Bureau. An estimated $85 billion of that total is past due. More and more people are being forced to pour the majority of their salaries into paying back these loans, and many of those jobs are minimum wage. This situation must end.
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