Saddling potential entrepreneurs with massive debt prevents them from starting businesses. Most of your famous businessmen started their business as single men in their 20s, when they were prepared to accept the high risk proposition and put in long hours to ensure success.
Now that cohort of young people are scraping by, just trying to clear debt. By the time they have cleared the debt, they're trying to scrape together enough for a house so they can have kids before their wife becomes infertile.
Why do you think there's so many articles about "How this 40 yo Mum started a cosmetics business and earned 10 million dollars last year!" It's because those are individuals whose circumstances allow them to risk capital on a business idea, not because of some amazing innovation or acumen.
Saddling potential entrepreneurs with massive debt prevents them from starting businesses. Most of your famous businessmen started their business as single men in their 20s, when they were prepared to accept the high risk proposition and put in long hours to ensure success.
Now that cohort of young people are scraping by, just trying to clear debt. By the time they have cleared the debt, they're trying to scrape together enough for a house so they can have kids before their wife becomes infertile.
Why do you think there's so many articles about "How this 40 yo Mum started a cosmetics business and earned 10 million dollars last year!" It's because those are individuals whose circumstances allow them to risk capital on a business idea, not because of some amazing innovation or acumen.