Approximately 50% of the American private sector is comprised of small businesses. But due to student loans, the American entrepreneurial spirit has suffered a hit and in 2016, CNN reported that US entrepreneurship has been at an all-time low for nearly 40 years.
According to a 2015 study done by Brent W. Ambrose, Larry Cordell, and Shuwei Ma, student loans can stop Americans from financing a startup and inadvertently hamper economic growth. The researchers say that potential business owners are encumbered by student loans that they longer have any way of borrowing more money. The student loan debt in the United States is now over $1.3 trillion.…Continue reading