Dear Future President,

     Noam Chomsky once said, “Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It’s a trap for the rest of your life because the laws are designed so that you can’t get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.” Indeed, student debt has been around for decades, maybe even centuries, and it is a growing problem today. Millions of college graduates are greatly affected by student loans. Many think, “Oh! I graduated! No more money problems for me!” Well, they’re so wrong. Student debt puts them in more problems than they ever were before. Student loans are greatly affecting college graduates, and not in a good way.

     To begin, it is very important that the student debt be reduced because it negatively affect recent college graduates. For example, statistics show that student debt rates have increased by 11% since 2015. Student debt can hold back anyone’s retirement, and can take off $13,000 off of retirement funds. Paying more in retirement funds will leave you with less money to put into retirement funds, forcing you to work for that retirement money. Gale’s “Here’s What the Average American Owes after College” states that “if you finish college $37,000 in debt like the average grad, you’ll set yourself back $13,000 in retirement funds.”... “The more debt you take on, the greater your chances to delay retirement…”.(HWAAOC) Additionally, over 60% of millennials are greatly transformed by student debt. Paying student debt can affect graduates by their spending money for clothes, food, and a house. A statistic says, “When asked how much student debt affects his/her spending ability, 30.54 percent answered, "Very much," 30.40 percent answered, "Somewhat,".(HWAAOC).Student loans, to some, effect graduates’ ‘dream’ occupation. Many say student debt induced what their career would be. Student debt has changed what their job would be because of the limited money they have, and they can’t work without money to start with. With student debt, recent graduates can’t have the essential needs in like. An example is transportation, which you couldn’t have without money, and most recent graduates are not affluent. Although the majority doesn’t feel this way, “38.34 percent feel that having student debt affected his/her career or occupation choice,” 2015 graduates say. (9 Key Things) Overall, student debt should indeed be lowered for many reasons, and they are impacting recent graduates, and could sway us in the future.

     Once more, future president, please use your prominence to lower student debt in America. I realize I cannot vote for another five years, but I realize how student had an impact on people’s lives, and also see how it could impact mine as well. This situation could lead to more debt, meaning more payments and retirement set back even more. If this problem is not fixed, I feel the problem will only get worse.

                                                               Sincerely,

                                                                        Zachary Daigle