High School Vs. The Federal Government

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As a boy growing up my parents insisted that I would be attending college after I graduate high school. Aging through the years, the common perspective was to attend college unlike the viewpoint from the 80’s and earlier where not as many high school graduates attended college. This standard view for many families, like my own, is to put their son or daughter into college so that they may graduate with a degree and seek a career in the tough world as of late. In order to make this goal happen, many families sought the help of financial aid as a lifeline to avoid debt themselves due to the increasing tuition rates nowadays. The federal government has made it easier than ever to borrow money for higher education. As a matter of fact, there is currently over $1.2 trillion in total student loan debt, eclipsing the amount of credit card debt. The reason for many families to borrow money is because tuition rates and fees for college have been raised dramatically over the past several years. An article from USA Today written by Amanda Reaume, a frequent writer for Credit.com about financial news, holds that college tuition and fees have increased by 1,120% since 1978. During that same period, the price of food has increased by 244% and medical expenses 601%. Also, tuition and fees have increased perilously at a rate four times faster than the consumer price index. It is clear that tuition rates, food, medical expenses, and other fees have yielded wild expenditures for the average
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