What Does It Mean to Have Excessive Student Loan Debt?

Student Loan Consolidation

student loan debt

As millions of people across the country go back to their college dorms, many aren’t thinking about the future ramifications. They know they’ll have student loan debt (unless they got a free ride), but they underestimate how it will play out. No one goes to college and believes they’ll have a difficult time finding work once they graduate.

Except, that’s what happens. In the crux of the Great Recession, there were as many people with bachelor’s degrees working fast food as there were unemployed. Jobs are still coming back, but studies show they aren’t the high-paying jobs our parents and grandparents had. Everyone is still reeling, even if consumer confidence is growing at record rates.

Despite the horror story playing out in the news every night, more and more kids gear up for college. They take out student loans with no fear of not being able to pay it back. Yet, the debt continues to climb. Recently, student loan debt reached a peak of $1.5 trillion. In the next few years, 40% of that will go into default. Many will suffer from excessive student loan debt.

What is Excessive Student Loan Debt?

Some debt is reasonable after leaving college. A few grand here or there for books and tuition is reasonable. Some people leave college $50,00-$150,000 in debt. In a lot of cases, this can take the next 25 years of your life to pay off. Again, these students borrow that amount with the full expectation that they can graduate and get an adequate job to pay for it.

The problem is, it can become a vicious cycle. Having a lot of student debt can seriously interfere with a person’s life. Monthly repayment can cost more than a mortgage. Your credit score can be affected and it can cause other lenders not to loan you more for things like a house or a car.


In specific terms, excessive student loan debt is when a person has too much debt that they can’t pay it back in a reasonable amount of time. It will seriously impact the financial stability of the individual. Interest is also a major factor most don’t consider. It can add thousands to your total debt, putting students in a vicious cycle they will never dig out of.

There is Help Available

If you find yourself stuck with excessive amounts of student loan debt, there is help available. The worst thing you can possibly do is not pay your bill. Interest will still add up and going into loan default will only make the problem worse. There are government programs that will assist borrowers based upon their income and ability to pay.

Financial Helpers is here to help as well. We’ve helped thousands of people struggling under the burden of student loans. We listen to their stories and work with their budget to find a plan that works for them. We even find if they qualify for student loan forgiveness, deal with the paperwork, and make the process easy.

If you’d like to know more about your options, you can call Financial Helpers at:

Call Now 844-332-2079

Excessive student debt will cripple your life. You shouldn’t have to put off financial freedom until 20 years down the road. There are options, you only need to know where to look. Financial Helpers will get you there.

Last modified: January 14, 2019