How Does College Debt Affect The Future Life Choices Of Students?

College debt is a devastating reality among many graduate students not only in the US but in the entire world. Data extracted by Nitro college says that almost 45 million students in the USA have contributed to nearly 1.75 trillion dollars of debt. Let’s learn about ‘How Does College Debt Affect The Future Life Choices Of Students?’.

How Does College Debt Affect The Future Life Choices Of Students?

How Does College Debt Affect The Future Life Choices Of Students?

And, these numbers have seen a steady rise since the 1970s. Further, in this article, you will get an idea of how college debt affects the future choices of millions of students.

How did the loan cycle begin?: How Does College Debt Affect The Future Life Choices Of Students?

A rocket, Sputnik’s entry into space in 1957 challenged the USA to compete in science education. So, president Dwight D. Eisenhower established NDEA to bring new youths and fund their studies in the field of Science and technologies.

And, a more stable system was organized later to support children with different backgrounds, colors, races, and fields. Therefore, affecting the college aspirants to choose loans for their higher studies. It was all back then about rising competition and showing greater power to other nations. Further, both private and public banks supported students but with different agendas.

The interest in private banks forced students to pay loans for several years. The consolidation loans introduced to lower the debt further increased it. It became the tool for banks to collect interest piles from students for longer periods.

Why do students make loan choices?: How Does College Debt Affect The Future Life Choices Of Students?

Students consider loan choices to fulfill their dream. Many colleges in students’ final year tell them about a beautiful future waiting for them. But, they don’t mention the hurdles that go along with pursuing their favorite dreams.

The average salary of parents to complete their child’s formal education tends to be below. Moreover, the inflation has caused a hike in tuition and campus fees of institutions than the paycheck of the average family.

This is the reason for millions of loan choices as their family’s earnings do not meet college demands. So, to complete a student’s overall education a student normally has to visit a bank or institution asking for support.

But, with the different choices nowadays with very low instruction students often make wrong loan decisions. This makes them years to pay the sum they borrowed.

How do the life choices of a typical student get affected by debts?

College loans can no less be a devil than the fake imagery of a saint. It forces you to make unthinkable decisions in your life. For example, a student who has taken a subsidized loan has to pay nothing until they graduate.

But, after that, the institution responsible for the loan starts charging them monthly as your bill. And, when you become eligible, you come to know it’s just the buckle-up interest, not the actual sum you borrowed. It is the reason why millions of students who has nothing to pay back apply for a forgiveness program.

But still, their loans are not forgiven easily. Because people who serve in the military or any public services for ten years can be a part of the program. And, it includes the person who has paid all dues in the period.

But, the person who has not fulfilled the above criteria still has to pay add-on interest and is never allowed to pay the actual sum. This in turn affects your life decisions, marriage, child, and everything. Below are some things I have included to give you a brief summary of it.

  1. Late family planning.
  2. Unable to satisfy their lifestyle.
  3. The choice to not have kids.
  4. Unable to curb expenses.
  5. Career choices.
  6. Delay in loan repayment.

Why should students not solely depend on college loans?

Although college loans help shape your future, total dependency on it will bring you to ruins. So, people need to learn from the fault of others who have chosen the same decisions. Nowadays, a lot of options enable you to learn different skills that cost you less.

For example- Distance courses, diploma courses, and skill-based courses. The cost of pursuing these skill sets is generally below and affordable. Moreover, they also offer jobs and internships that can get you into your dream career.

Further, they also include loans, scholarships, and financial aid programs without asking for your background. So, you can get details from your bank or institution about it and get the idea of payment related to it.

You can also choose to work aside from your studies to pay for your main jobs. It makes you eligible for the loans and could be paid easily without taking several years.

Here are some of the distance, diploma, and skilled-based courses-

I have mentioned below some universities that provide online and skill-based learning. It will also give you an idea of the programs they offer.

1. Udemy:

  • Become a Web Developer from Scratch.
  • Machine Learning, Data Science, and Deep Learning with Python.
  • The Ultimate Drawing Course – Beginner to Advanced.

2. Skillshare:

  • Animation for Illustration: Adding Movement with Procreate & Photoshop.
  • Mastering Color: Simple Steps to Create Vivid Art.
  • iPhone Filmmaking: Create Cinematic Video With Your Phone.
  • Finding Success Online: Grow Your Social Following into a Creative Business.

3. Boston University:

  • Art Education (BFA, BFA/MA, MA)
  • Clinical Research (MS, Hybrid Graduate Program, Online Graduate Program)
  • Financial Planning (Cert)
  • Business Administration (BS, MBA, PEMBA, EMBA, OMBA, MS/MBA)

4. University of Florida:

  • Offers doctorate, specialist, master’s, bachelor’s, and certificate distance courses.
  • Classical civilization (Ph.D.) in liberal arts and science college
  • Aerospace engineering
  • Joshua Environmental Management


Loans can be a disaster if mistreated. So, a graduating student must learn about financial literacy before applying for it. Find out the different ways to pay for your dream college job without sacrificing your life choices.

You can seek brief information from personnel to get a rough idea of the loan scheme. Because College loan debt has become the second debt in terms of auto loans and mortgages. Many students choose to stay single, not bear a child, home, rent and live the rest of life repaying debt. If you don’t want that to be your story, then address it carefully.


  1. How much is the US debt?
  • Ans – The estimate shows more than 45 million students owe 1.75 trillion of debt to the country in college loans.
  1. What life choices are affected by debt in a student’s life?
  • Career satisfaction
  • Loan repayment satisfaction
  • Not owning a home
  • Not getting a chance for family planning.
  • Freedom
  1. How can the loan system be improved?
  • By providing proper loan instructions.
  • Regulating costs of every college program.
  • Charging tax to nonpayers and increasing royalty.
  • Asking book authors to reduce book costs and copyrights.
  • Proving better scholarships and a tuition-free environment for average students.
  • By regulating loan programs offered by institutions, banks, and profit lenders, and decreasing the interest.
  1. How can students avoid the loan trap?
  • Ans – The loan cycle destroys many students’ lives. To avoid it, students can find passion-related jobs, internships, and skills that grant direct roles in the job. Furthermore, they can also work alongside completing a degree to save money for better studies.