26 People Are Sharing Stories Of Their Modern Burden – Student Loans

Two of the most common pieces of financial advice you’ll hear is to avoid debt and, if you are in debt, to pay it off as quickly as you can. But that’s easier said than done.

Student loan debt in 2020 is around 1.6 trillion dollars and there are around 45 million borrowers in the United States alone, according to Forbes. Student loan debt is such a huge problem that Sports Illustrated editor Sarah Kelly drew attention to it by sharing her personal experience in a recent Twitter thread.

It went viral, as other Twitter users rushed to talk about their own student loan horror stories and just how predatory the system can be.

Sarah Kelly’s shared her thoughts about the American student loan system in a viral Twitter thread

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: thesarahkelly

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: thesarahkelly

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: thesarahkelly

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: thesarahkelly

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: thesarahkelly

Kelly drew attention to the idea that families that can afford to pay their children’s tuition might actually end up paying less than the people who take out loans to finance their studies. Her words reached a lot of people: 362.8k liked what she had to say and 55.5k retweeted her message.

US student loan debt is the second-highest consumer debt category in the country, right behind mortgage debt but ahead of credit card and auto loans. The Institute for College Access and Success states that the average student debt of Americans who graduated in 2018 was 29.2k dollars. And that’s just the average!

Whether we like it or not, college is getting more expensive. The cost of a 4-year degree has increased by 25 percent while student debt has risen by 107% since the 2008 recession.

However, not going to college is not an option for some high school graduates. CNBC reports that those who have a college degree earn on average 80 percent more than people with just a high school diploma.

So going to college means investing in your future, but it can also mean going into debt. So it’s a tough choice to make, especially during the coronavirus pandemic which has put a lot of pressure on not just the US but also other countries’ economies.

Other people shared their thoughts about student loans in the US as well

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: flsku

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: thesarahkelly

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

Image credits: thesarahkelly

26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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26 People Are Sharing Stories Of Their Modern Burden - Student Loans

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Storytelling, journalism, and art are a core part of who I am. I've been writing and drawing ever since I could walk—there is nothing else I'd rather do. My formal education, however, is focused on politics, philosophy, and economics because I've always been curious about the gap between the ideal and the real. At work, I'm a Senior Writer and I cover a broad range of topics that I'm passionate about: from psychology and changes in work culture to healthy living, relationships, and design. In my spare time, I'm an avid hiker and reader, enjoy writing short stories, and love to doodle. I thrive when I'm outdoors, going on small adventures in nature. However, you can also find me enjoying a big mug of coffee with a good book (or ten) and entertaining friends with fantasy tabletop games and sci-fi movies.

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I'm a visual editor at Bored Panda. I kickstart my day with a mug of coffee bigger than my head, ready to tackle Photoshop. I navigate through the digital jungle with finesse, fueled by bamboo breaks and caffeine kicks. When the workday winds down, you might catch me devouring bamboo snacks while binging on the latest TV show, gaming or I could be out in nature, soaking up the tranquility and communing with my inner panda.

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What do you think ?

POST

postboredom 4 years ago

America was somewhere I dreamed of and always wanted to go to when i was younger. Now, it seems that nothing is fair in America. Rights, healthcare, school, the people. My younger conceptions of America are ruined by what i have seen since the last 5 years. There isn't much in America that sounds fair anymore. (sorry for listening to my sad speech)

33points

Al Jones 4 years ago

It was the same for me but I was lucky enough to go about 20 years ago, long before the troubles now. I wonder now though, whether the place I dreamt of and saw (probably through rose-tinted glasses) ever existed in the first place. Sure, Trump wasn't there but the racism and the hate, the inequality and the huge divide between the rich and poor, they were always there.

11points

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Grumble O'Pug 4 years ago

We have a lot. Many rights are protected. We do have lost rein on rampant capitalism. What is sadder still are the people who benefited from socialist infrastructure (free education, virtually free college, subsidized housing, roads, clean water, etc., are not realizing what they had and are easily brainwashed into spouting off "socialism". Most are boomers. It's just sad at the ignorance. Worse is that we lost the Fairness Doctrine, which really required fair and balanced media. Now we have Fox, which is not merely openly biased, but using their platform to spread lies, fear, and ignorance.

1point

Electric Ed 4 years ago

Nightmares are still dreams, right?

0points

XianJaguar 4 years ago

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John Smith 4 years ago

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Catlady6000 4 years ago

I was upset my daughter chose not to go to college, and then I hear about these horror stories. She cleans houses and businesses, 30-40 hours a week, makes as much as most BAs. In the eighties you could literally work your way through most colleges, waiting tables, few if any loans, and come out the other side owing very little or nothing, and get a job that actually paid. I wait tables (pre-Covid) and make as much or more than many with a BA. That added education used to be worth it, now it's just a scam

18points

Dan H 4 years ago

As much as the student loan system is screwed up, there has to be an examination of how much Colleges and universities charge for tuition. You have to look across the years and see how much they have raised the cost to go to college and how that out paced inflation.

12points

Maureen Matthew 4 years ago

The increased costs of 'administration' at most universities and colleges is absurd. You get NOTHING for all the admin people hired. But it does increase the cost of higher education. Plus look at all the endowments that many universities have - sometimes billions of dollars. What is that being used for. I do feel sorry for these individuals, but their solution (free education) just makes the problem work. People have to start NOT buying into the myth that high education is the solution to a good life.

12points

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POST

postboredom 4 years ago

33points

Al Jones 4 years ago

11points

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Grumble O'Pug 4 years ago

1point

Electric Ed 4 years ago

Nightmares are still dreams, right?

0points

XianJaguar 4 years ago

This comment is hidden. Click here to view.

John Smith 4 years ago

This comment is hidden. Click here to view.

Catlady6000 4 years ago

18points

Dan H 4 years ago

12points

Maureen Matthew 4 years ago

12points

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26 People Are Sharing Stories Of Their Modern Burden – Student Loans

Sarah Kelly’s shared her thoughts about the American student loan system in a viral Twitter thread

Other people shared their thoughts about student loans in the US as well

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