The document discusses the effects of student debt in the United States. It notes that over 44 million Americans have over $1.47 trillion in student loan debt. The average student loan debt for the class of 2018 was $29,800. Having large student debt burdens can decrease consumer spending and limit purchases of major items for many years as graduates dedicate a large portion of incomes to paying off loans. The debt also contributes to anxiety, depression, and lower rates of homeownership among young people. While student debt hinders finances in the short-term, obtaining a degree may lead to higher lifetime incomes. Overall, student loan debt presents major challenges for personal financial advancement.