Student debt refers to the money borrowed by students to pay for their education, including tuition, fees, and living expenses. This debt is often acquired through federal or private loans, which must be repaid with interest after graduation or when the student drops below half-time enrollment. Many students take on this debt to pursue higher education, believing it will lead to better job opportunities and higher earnings. However, the burden of student debt can impact financial stability, delaying major life decisions such as buying a home or starting a family.