The student loan debt crisis is taking a mental toll on millions of Americans every day. In the last year, the debt amount hit $1.3 trillion total, and over 40 million people were borrowers for their college education costs. These numbers are only rising as the semesters go on.

The amount of federal loans continue to increase, a direct result in tuition costs shooting up. In 2016, the total increase in student loan debt was $31 billion, according to Forbes.com.

Statistically speaking, this is the second worst debt crisis in American history, officially surpassing the credit card debt by over $400,000. So, why is this the way it is? Why have we seen such an increase in college spending in the last 20 years?

The idea of getting a college degree is now apart of the “American dream” stigma that many feel is crammed down their throats. Getting a degree from a four-year institution is expected by society in order to live a successful life. This causes teenagers who have very little understanding of the burden of financial debt to jump into a lifelong commitment of paying back the thousands of dollars they loaned from the government.

A college degree has a different significance now than it did previous to the year 2000. Now, for many jobs, one could get a two-year associate’s degree, or a technical/trade school degree, and still be qualified for a solid career path.  This change has been a push for students to opt-out of going thousands of dollars into debt.

The awareness of financial debt and what it means is not spoken out on, directly resulting in uneducated decisions being made that will affect people’s’ lives for most of their adult lives.