Student debt is the wedge of your salary that disappears each month. The weight of student loans is different from the weight of mortgage or credit card debt because student loan borrowers cannot declare bankruptcy. Student loans are sometimes perceived as a mark of failure — failure of character, perseverance, or planning — further compounded if and when a payment is missed. For many, student debt means delaying or forgoing homeownership, marriage, and parenthood.
Financial therapy and career counseling can help people reevaluate their current situation and provide an opportunity to get a handle on their money and their life in new ways.