As the amount of student loan debt continues to rise in the American collegiate system, many students aspiring to reach their academic goals are faced with the reality of struggling to find a way to repay their loans after graduation.
Many college students see borrowing 5,000 to 10,000 dollars as not a lot of money that they should be able to pay it off, but upon graduating, its really hard trying to pay bills, the loans interest and principal, and basic necessities.
This directly affects the average person in society, as so many individuals are in debt to student loans and will affect your kids, nieces, and nephews when they go to college, and unless you can pay for the tuition in full you will most likely end up having student debt, and currently, there are over 44 million debt owners in the U.S and all of the student debt comes to a total of 1.5 trillion according to Forbes.
So I suggest parents begin teaching their kids about investing and have them start investing so they won’t become a statistic and be subject to the system of debt and throughout their life continually having it on their mind or shoulders.
So my advice for you would be to begin teaching your children, nieces, and nephews about credit, taxes, debt, and basics of investing.