This month, millions of Americans will resume payments on their student loan debts – or attempt to. With $1.7 trillion outstanding, student loans have now outstripped all other forms of debt except home mortgages and saddled a generation and a half of young people with an unsustainable burden before they even get their start in the workforce.

The resumption of student loan payments after a long pandemic hiatus will worsen household finances for many families already stretched thin or spending on credit due to inflation and the generally poor economic outlook. But asking the majority of Americans without college degrees, or those who sacrificed for decades to pay off expensive loans, to bail out the current debtors is an unfair solution that doesn’t solve the problem going forward.

This month, millions of Americans will resume payments on their student loan debts – or attempt to. With $1.7 trillion outstanding, student loans have now outstripped all other forms of debt except home mortgages and saddled a generation and a half of young people with an unsustainable burden before they even get their start in the workforce.

The resumption of student loan payments after a long pandemic hiatus will worsen household finances for many families already stretched thin or spending on credit due to inflation and the generally poor economic outlook. But asking the majority of Americans without college degrees, or those who sacrificed for decades to pay off expensive loans, to bail out the current debtors is an unfair solution that doesn’t solve the problem going forward.

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