Research has proven that over the course of a student’s higher education career, individuals will become debt tolerant (Zhang and Kemp, 2009, p. 28). Being that students are becoming debt tolerant, more and more debt is taken from government aid or private loans to fund students through college. Currently, the national student debt amount is over $950 billion. Mark Kantrowitz, a publisher of FinAid.org, states, “national student debt increases $2853.88 every second.” Unfortunately, student debt has not only accrued from education alone. Students are using student loan refunds and credit cards to finance the high standard of living in America. Student debt is affecting students’ mental and physical wellbeing in addition to crippling the future of college graduates.
Finance and Financial Management | Student Counseling and Personnel Services
Roberts, John and Popma, Timothy, "Student Debt [brochure and video]" (2011). Counseling Concepts and Applications for Student Affairs Professionals (CNS 577). Paper 18.