Student loan debt is a common occurrence for those in higher education. College tuition rates are increasingly rising, and many families cannot afford to pay for their children’s education. As a result, thousands of students take out loans each year to pay for rising tuition and other miscellaneous costs associated with attending college. According to Forbes.com, “there is currently $1.75 trillion in student loan debt.” This astronomical amount of debt is owed by around 43 million Americans and includes private as well as federal loans.