With tuition ever rising and federal student aid increasingly restrictive, the number of students relying on student loans to finance their college education reaches an all-time high . According to a survey conducted by an independent, nonprofit organization, two-thirds of college students graduated with loans in 2010 and each had an average debt of $25,250. (Reed et al., para. 2). My research question will focus on the profound effect of educational debt on the lives of American college graduates, and my thesis will focus on the idea that education policymakers should improve financial aid programs and minimize the risks and consequences negative effects on student loans. My research hopes to explore the consequences of educational debt on graduates' lives, including career choices, consumption patterns and lifestyle choices. In the meantime, I want to discuss some viable alternatives for minimizing your student loan debt. My intended audience will be American college students and their families. The other audience I want to reach are education policy makers. The contribution of this research will be to help students better understand the consequences of debt and make informed and careful decisions about paying for college. Furthermore, it will raise the awareness of education policy makers, prompting them to improve our current student loan policy. As a college student, how to finance a higher education is closely related to my personal life. Through research I hope to gain enough information about the pros and cons of student loans and other options for minimizing student loan debt so that I can make a careful decision about financing my college education.Review by S. ... .. half of paper ... are burdened with high debt which negatively hinders their lives. Furthermore, it will threaten the affordability and success of higher education in the United States. I believe that through my research paper I can push American college students to make wise and informed decisions about higher education financing. Furthermore, it will make education policymakers aware that rising educational debt has serious implications for college access and affordability, prompting them to reduce the total amount of student loan debt by reducing college tuition and increasing federal student aid. : Pay off student debt. American Council on Education. A Dupont Circle to the northwest. September 2004. Web. November 12, 2011. Reed, Matthew et. al., “Student Debt and the Class of 2010” project on student debt. The Institute for College Access and Success. November 2011. Web. 12 November. 2011