I’m going to open up this discussion with student debt.
So my girlfriend is in quite a bit of student debt, and since she’s still in school, she’s nowhere near starting to repay it. I don’t have the same experience - I got through undergrad on a scholarship and didn’t continue to grad school - so I’ve only learned about this subject recently, and it’s horrifying.
For example, you can never default on student debt. Unlike a mortgage, auto loan or pretty much any other debt you might take out, it’s unsecured - or rather, it’s secured on your future wages, which essentially means you’re signing up to have your paychecks garnished in perpetuity.
This seems remarkably unfair when real wages are stagnant and salaried jobs are disappearing in favor of “gig” jobs with absolutely no income security. Especially if you signed up for loans in the 2000s when the economy was in far better shape.