When Your Life Revolves Around Paying Debts: Student Debt Slave Crisis

Dear Reader,

You know our mission. We are grounded in the real-life, day-to-day experience of Americans struggling with student debt. That is why we partnered with Summer, a social impact startup created at Yale University, to survey 7,095 Americans with an average student debt burden of $87,000.

READ our nationwide student loan report, Buried In Debt. Then SHARE our findings online to help spread the word.The consequences of student debt can be dire.We surveyed your experiences to better communicate the scope of the student debt crisis to the public and lawmakers. Nearly one-third of respondents had monthly loan payments higher than their rent or a mortgage; 56% paid loan installments that were greater than their health care billsOver 65% of you spent more each month on student loan repayment than on food.

The pain of student loans isn’t just measured in monthly payments. It’s measured in dreams deferred: one in five of those we interviewed had delayed getting married because of student debt; 56% were putting off buying a house; 80% were delaying retirement contributions; and 26% said they were delaying having children because of their student loan debt.

Simply put, these findings show student debt is a major stumbling block to achieving the American Dream. Will you share your own Student Debt Story with us?

“Student debt has prevented me from doing many of the things my parents took for granted.” These are the words of Amanda from Illinois, and she spoke for countless others we surveyed. Student debt is more than just another bill. For 86% of respondents student debt is a major source of stress in their lives.

86% of borrowers said student debt is a major source of stress.

What you read here probably reflects what you, or someone close to you, is facing with their own student loan burden. This new report confirms our experience, and yours. The next step is to make sure that this data – and the human stories behind the data – reach the widest possible audience.

Read our full report, Buried in Debt. Then share widely with friends and family.

As always, we’re so grateful to have you standing with us. Together, we’ll continue to push for the student loan reform we deserve – and need.

Thank you,

Natalia Abrams

Executive Director, Student Debt Crisis

P.S. Our survey results were covered by journalists across the nation, including this piece in MarketWatch.

In January, we’ll have a new Congress. We know the time is right for student loan reform – but the political agenda is crowded. With your help, we can reach lawmakers with the information they need to take meaningful action to bring change. Can we count on you?

Yes, I will chip in $12 to help put student loan reform at the top of the to-do list for the next Congress.

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Student Debt Crisis is a people-powered advocacy organization with over 1 million supporters. We are committed to making education free and saving families from the crushing burden of student debt.

*Contributions to Student Debt Crisis are not deductible for federal income tax purposes.

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