The Student Loan Debt Crisis: A Narrative Review

Abstract

Education is one undeniable pathway from poverty. Research has consistently shown the positive effects of higher education level on lifetime earnings. Financing to achieve this can lead to student loan debt, which has become a crisis affecting financial and health wellbeing among some borrowers and disparities in higher education access further exacerbated by the COVID-19 pandemic. Despite the fact that access to higher education has been deemed a right in Article 26 of the Universal Declaration of Human Rights, the student loan crisis threatens access for some. Lack of ratification of the document by the U.S. further pushes the need for critical discussion. Therefore, the purpose of this narrative review was to examine the state of the student loan debt crisis and raise implications for policy. WorldCat, SocINDEX, and Academic Search Complete databases were searched utilizing a combination of key words associated with college student loans and debt, economic justice. Findings showed student loan debt, repayment challenges, and inequities in higher education access remain widespread. There is a need for more social work–based empirical research on student loan debt and social work engagement that promotes critical conversations utilizing an economic justice perspective. Implications for social work practice, policy, and research are discussed.