student debt

Student debt refers to the money borrowed to pay for college or university tuition, fees, and other related expenses. Many students take out loans to finance their education, expecting that a degree will lead to better job opportunities. However, this debt must be repaid with interest, which can become burdensome, especially if graduates struggle to find well-paying jobs. In recent years, student debt has reached record levels, prompting discussions about its impact on individuals and the broader economy, as many graduates delay major life purchases like homes and cars due to financial constraints.