Student loans can have a significant impact on your financial future. The burden of student loan debt can affect various aspects of your life, including your ability to save for retirement, purchase a home, or pursue other financial goals.

For example, high monthly loan payments can make it challenging to save for a down payment on a house. Additionally, the long-term interest on student loans can result in paying much more than the initial loan amount, further impacting your financial stability.

According to a report by the Federal Reserve, student loan debt can lead to delayed savings for retirement and other long-term financial objectives. The report also highlights that individuals with student loan debt are less likely to own a home compared to those without such debt.

It's essential to carefully consider the potential impact of student loans on your financial future and explore options for managing and repaying this debt effectively.