Have you hidden how much student debt you have from friends or partners? Do you feel embarrassed when you think about your balance? Many people feel a sense of shame when it comes to their debt, and student loans are no exception.
In the U.S., 45 million borrowers now have a combined $1.56 trillion in student loan debt. For many people, student loans are the largest chunk of debt they will face in their lives, excluding a mortgage .
While most people are accustomed to going into debt in order to purchase a home, there seems to be more internal baggage associated with carrying around student loans. This shame and feeling of isolation can escalate if you have trouble paying your loans, if you didn’t graduate, or if you are struggling to find a job in your field.
Student loans can certainly feel like a burden and can take years to pay off, but they don’t have to be a source of embarrassment. Instead, you can shift your mindset to see them as an investment, just like a house or car—and, in many ways, better.Read more