With the student loan payments set to pick back up in May, I thought it would be beneficial to have a conversation about the situation. The total amount of student loan debt in the US is about $1.7 TRILLION (source). For reference, the US GDP, or the amount of total goods and services produced, is about $23 trillion according to the Bureau of Economic Analysis (source). Ever hear the saying “If you owe the bank $50,000, you have a problem. If you owe the bank $50 million, the bank has a problem?” Well, the United States has a problem. If we all continue to not make payments, this could be the push needed to get the Biden administration to finally make some moves.
