https://www.entrepreneur.com/article/289384
Interesting article. The author makes the case that the burden of repaying student loan debt has made millennials less willing to take economic risks, a necessary ingredient in any entrepreneurial endeavor.
The analysis flows from the assumption that the fear of indebtedness pushes talented would-be entrepreneurs to pursue less risky, but safer career paths. The author advocates for policies like income based repayment plans and relief for students who have been defrauded by for-profit universities.
I agree! And I would add that I think the level of student loan debt many graduates have is going to cripple them – and the economy, by extension – in other ways, as well. Consider that many graduates have the equivalent of a mortgage payment, but no house to show for it. They’ll be making those payments for 20 years – which is going to impede their ability to actually BUY a home. There are other choices that this will affect: lower-paying jobs may not be an option, even if they offer greater personal or professional satisfaction. And staying home with babies or small children may be foreclosed, too, especially if BOTH parents have student loan debt. This is a monster that we have to come to terms with and rein in.