The enormity of the student debt crisis is staggering. The Federal Reserve has reported a record-breaking $1.7 trillion in federal and private student loan debt,which is currently held by more than 44 million Americans.
This burden has enormous repercussions. Recent graduates may experience a narrowed sense of possibility; decisions like when to start a family or buy a home can become overwhelming in the shadow of debt obligations. The challenge of saving for retirement while paying off student debt may also deter entrepreneurship and risk-taking, which are crucial economic drivers. Moreover, the stress and strain caused by economic insecurity can impact everything from well-being to productivity. Financial issues are commonly cited a…
Read the full article at: https://hbr.org/2021/03/companies-can-and-should-help-employees-pay-student-loans
