Money borrowed to pay for education, now one of the largest categories of household debt in the US.
Student loan debt is money borrowed, usually from the federal government or a private lender, to pay for college or graduate school, repaid over years or decades after graduation. It's grown into one of the largest categories of consumer debt in the US, trailing only mortgages, and it shapes major life decisions for millions of borrowers: when they can afford to buy a home, start a family, or save for retirement. Policy fights over loan forgiveness, interest rates, and repayment plans get outsized attention precisely because so many households are carrying this debt at once.
Part of the Open Bell Glossary — plain-English explanations of the terms that come up on the show. Browse every term.