“It deters an entrepreneurial spirit when you already start four steps behind the starting line,” said Sherick. “The student debt increases the risk for an entrepreneur like me and makes it harder to expand new business, get loans and thus hire new people” […]“The burden of student debt probably places pretty big constraints on your viable options after graduation,” said Dane Stangler, director of research and policy at Kansas City-based Kauffman Foundation, which focuses on supporting entrepreneurship. “With more student debt and stricter bank lending, it really hinders the ability of students to take risks, start a company.
The problem is growing. More and more young adults are graduating under a crushing debt burden, and older adults are increasingly on the hook for it as well. As a result, the housing market is suffering, and so are start-ups, the lifeblood of the US economy.Where does it end?[Ball and chain image courtesy of Shutterstock]