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Student debt are funds that are owed on a loan taken out to pay for one’s education. Debt may be incurred when students use an unpaid bank loan to cover the cost of their tuition.
Student loans are one of the largest sources of debt in the United States. Students who graduate with debt will feel the effects of their debt for years after they graduate. Beyond the stress and anxiety that large amounts of debt can cause, student loans can force people to make hard choices and delay important life events.