Upward mobility is a prized aspect of the American dream based upon the belief that those from humble origins can climb the socioeconomic ladder through education and hard work. Increasingly, postsecondary education is an essential component of that dream. However, many students, particularly those from low to moderate income families, find it necessary to rely upon student loans, which include direct loans from the U.S. Department of Education as well as those from private lenders, to finance their studies. A growing concern among policymakers is the increasing amount of debt students incur to pay for their postsecondary education. This article provides an overview of the implications associated with the growing student loan debt burden for borrowers, society, and the economy.