The growing responsibility that student loans have imposed on citizens make it very difficult for them to pursue other financial goals.
Los Angeles-Long Beach, CA (PRWEB) June 24, 2013
Credit Card Consolidation Loan is concerned as news from Bloomberg indicate that the $1 Trillion student debt is crippling the business dreams of the average American. The report was released through an article published on June 6 entitled “$1 Trillion Debt Crushed Business Dreams of U.S. Students.”
The article states how the student debt of 25 year olds increased from 25% in 2003 to 43% in 2012. The growing responsibility that student loans have imposed on citizens make it very difficult for them to pursue other financial goals.
Credit Card Consolidation Loan is convinced that debt education will play an important role in solving the troubles of the average consumer. They offer financial education as part of their service and makes sure that their clients are briefed of their options when it comes to the different methods in debt freedom.
Among the sacrifices that consumers have to make involve their personal businesses. The Bloomberg.com article states that some of them cannot get the startup loan that is needed to build their own companies. There are some who are able to start the company but cannot expand it since their limited resources are being eaten up by debt payments. The article states that most of them are unable to take the risk because they have no capital to put upfront. And with the total debt amount still high, their credit score take a hit and thus they are unable to get a loan to finance their dream companies. If they are able to get the loan, it is usually with a high interest rate. It leaves less room for growth as the fruits of the company goes to the debt obligations of the owners.
The debt relief company is aware that the limited business investments will also hinder the creation of new jobs - thus affecting the overall unemployment rate. Although the federal government reports that unemployment is going down, one cannot help but think about how new businesses could have made it even better for the economy.
The thing about student debt is the fact that consumers only have a few options when it comes to payment methods. While Credit Card Consolidation Loan admits that they cannot directly help with the payment of this particular loan, they do offer consolidation services specifically for credit card debt. It is the belief of the company that solving the other debt troubles will free up more funds for consumers to invest or to send towards their student debts.
To know more about student debt relief options and how debt consolidation loans can help, visit CreditCardConsolidationLoan.org.