How The Rising Student Loan Debt

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How to Control The Rising Student Loan Debt The American Dream teaches us that if we work hard, earn a good living, and do our best that we will be able to live comfortably and happily with the fruits of our labors. In today’s society to achieve the American dream, one must first obtain a higher education. In order to do that though many students are taking out student loans and putting themselves further in debt. Having an education has now become highly sought after, yet increasingly harder to get due to the high cost of attendance. According to the Wall Street Journal , “Average published tuition and fees at private, nonprofit four-year colleges and universities increased 14% between 2008-09 and 2013-14 beyond the rate of inflation,…show more content…
Kelley Holland, a journalist at CNBC said, “Rising student debt levels are changing how millions of people approach major milestones and core financial decisions, affecting longstanding social and economic patterns.” This should be a scary reality for our whole nation and not just those that is specifically effects. Recent graduates are putting off getting married, starting families, buying homes and even venturing into entrepreneurship all because they feel a heavy burden from student loan debt and struggle to stay afloat after graduation. If we cannot fix this problem soon the debt will continue to climb, making it impossible to for students to get out of debt and loan companies to receive payment back. Mitchell D. Weiss, a contributor at Credit.com said, “When so many student borrowers are falling further and further behind in their payments, postponing purchases of cars and houses, putting off marriages and having children, they are sending an unmistakable message. Why are we not listening?” We need to stop this epidemic of increased debt, reevaluate the problem, and find a way to fix it. This debt will not go away on its own, and students will go further and further into debt without a good way to fix the problem. Eventually our nation will suffer all at the price of gaining an education. To solve this problem we must look at the cause of high student loan debt increases in recent years. The

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