Financial And Bureaucratic Growth Of The United States

1980 WordsApr 5, 20168 Pages
Given the ongoing state of education in the United States, one may argue that it has largely shifted its focus from being an institution that focuses on the development of academics and future societal leaders, to one that focuses on financial and bureaucratic growth in which students have become the consumer and the businesses are the universities. This shift has in turn, contributed to an enormous rise in educational debt for US college and university students (Jason Houle, 2014). Houle (2014, p. 53) also states, as cited in (Federal Reserve Board, 2010), that for many students attending a college or university has opened the doors for them to also accept a 1 trillion dollar debt—a debt that has surpassed the credit card debt placing them in extremely financial difficult situations in terms of the amount of money they owe to universities. Singlehandedly, a student’s loans can reach and even exceed tens of thousands of dollars and that number continues to climb. It is especially hard for students who have unfortunate social economic backgrounds such living in poverty and or having parents who not have a great education and substantial income. Based on Houle findings (2014, p. 67), he concludes that, Currently debt has become the mundane for a young adult who are not from a healthy upbringing that when they begin their career path, they will not do well due to unequal financial terms for the amount of money that the owe for their academics to their university. Many
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