Name one common reason for student loan debt.

Increased higher education costs is often cited as a fundamental reason for the accumulation of student loan debt. Over the years, the tuition rates for colleges and universities have consistently risen, sometimes outpacing inflation and wage growth. As a result, many students find themselves needing to rely on loans to finance their education, which can lead to substantial debt upon graduation. This increase in costs can be attributed to various factors including state funding cuts for public institutions, administrative expenses, facility upgrades, and the rising costs of services associated with higher education.

While other factors such as lack of job opportunities, poor financial planning, and low scholarship availability can also contribute to students' financial struggles, the primary driver of student loan debt is the escalating price of tuition and associated college costs, necessitating the taking out of loans to cover the gap.