Lots of people go shopping for presents this time of year, but if you’re a current or former student who has student debt to keep in mind, that can really bust your wallet. In fact, right now young people owe more than a trillion dollars due to their student loans.
Debt.com cranked out the numbers and came up with an idea: what if all that money went to Santa for holiday shopping? This infographic spells it out:
The Santa Claus Of Student Debt – An infographic by the team at Debt.com
Yes, with student debt, we could buy every single kid in the U.S. thirty-two brand new iPads. You could even purchase 22.4 million gold-plated Beats By Dre. Gifts for women and gifts for men are subjective, but numbers aren’t, and these numbers show how much young people are struggling.
There are a few things you can do. For starters, you can write to your elected representatives and let them know you don’t agree with young people being saddled with so much debt. Writing to representatives might not sound like much, but if enough people do it, it can make change. If your representatives don’t listen right away, keep sending them well-worded and thoughtful messages (no matter how much you may want to just send them coal).
If you’re looking for help on college costs, you can check out Get Schooled for tips on scholarships and the like. We might laugh at the idea of every child having 32 iPads, but we all like the idea of affordable education so much more.
Photo: (Getty)
