Essay On Student Debt

As students seek jobs in a recovering economy they are force to take whatever job they find in order to pay their debt for the education they received. They cannot afford to be too selective when it comes to finding employment. In many instances most recent graduates have to put their career on hold and take a job outside of their field of study. Most of them take on two jobs so they can pay the bill for seeking higher education. This causes them to get trapped in jobs they are not satisfied with. Student loan debt has caused an impact on their social life as well. Many will shy away from marriage because of the extra baggage of loan debt that they bring into the equation that most don’t want be saddled with the responsibility of someone else’s debt when they have their own to tend with. these choices has an immediate effect on the employer based upon the decision they had to make. It has led to poor job performance, low motivation and apathy. Employers find that many of their employees who are unhappy with their current positions spend countless hours per week looking for a job on company time. This loss of time is reflected in companies struggling to keep up their productivity as their workers spend work time focused on their personal financial situation.

Consequences of a Student Loan Default

They may even go after your pay check by garnishing their wages to include a person social security or other federal benefits. These in turn give the consumer less money to spend on the economy by spending less, the economy doesn’t grow.. Some states allow professional and vocational boards to revoke, suspend, or refuse to certify a license when the member has defaulted on student loan debt. This typically applies to attorneys, medical professionals, teachers, and state