The black cloud of debt seems to be looming over America more than ever. Not only is the country in debt, $15.7 trillion in debt to be exact, but many americans are facing debt all alone, every day.
The thing about debt is that it seems impossible to get out of. It’s like you’re digging a hole and someone keeps throwing dirt on it. Many Americans know this feeling. In fact, it is deemed perfectly normal to have debt. It’s the people that don’t have debt that seem weird or out of place.
The biggest culprit of debt is undoubtedly student loans. Graduates are paying back hefty student loans, while most are lucky to even find a full time job. There is something wrong with that picture. No to mention student loan interest rates will double soon. Some might be asking if college is even worth it, but that’s a story for another day.
The moment students sign that dotted line they are in debt, and it’s not a small amount either. Research shows that the average student loan debt was $25,250 for college seniors in 2010, a number that is sure to grow.
This infographic presented by paydayloan.co.uk illustrates the average american’s debt and how easy it is to fall into.