The real weight of college loans. The issue of young debtors of the Corfo undergraduate school loan in Santiago de Chile

Abstract

The objective of the present article is to explore how student debt became a troublesome experience among young adults who accessed university education through the Corfo undergraduate school loan in Chile. By presenting the experience of 16 young adults living in Santiago de Chile, this article analyzes (a) the decisions and individual aspirations of these young adults in obtaining such a loan, (b) the role of social relations beyond those within their families in terms of access and maintenance of such a loan, and (c) their indebtedness and struggle to repay the loan.