Student loan debt can have a significant impact on major life decisions for individuals. The burden of repaying student loans can influence choices related to career, homeownership, and starting a family.

For example, individuals with high levels of student loan debt may feel pressured to pursue higher-paying jobs to meet their loan obligations, rather than following their passion or choosing a career that aligns with their interests. This can lead to increased stress and job dissatisfaction.

Furthermore, student loan debt can also affect the ability to qualify for a mortgage, making it more challenging for individuals to purchase a home. According to a study by the National Association of Realtors, over 50% of non-homeowners cited student loan debt as a major obstacle to saving for a down payment on a home.

Additionally, the financial strain of student loan debt can delay decisions about starting a family. A survey by the American Student Assistance found that 56% of respondents said their student loan debt influenced their decision to delay having children.

These examples highlight the far-reaching impact of student loan debt on major life decisions. As such, it is essential for policymakers and institutions to address the student debt crisis and provide support for individuals burdened by loans.