Post Secondary Education Comes At A High Price

864 WordsMar 10, 20164 Pages
Post-secondary education comes at a high price. The excitement of graduating college to land the six-figure job is soon destroyed when students realize how much debt they obtain. Dreams of owning a house and starting a family are shattered by the money borrowed to provide and guarantee students an excellent future. Instead of waiting to land the ideal job, students work multiple jobs to help ends meet. Struggling to stay afloat, millions of students become victims of one of the major economic crisis in the United States; Student debt. According to the article “College on Credit” written in “The Economist” journal, student debt over the years has risen tremendously. In the course of 10 years, student debt has skyrocketed from $41 billion to $87 billion in 2009. Certain states decisions to increase the tuition fees to assist heal their own budget troubles will only worsen this economic crisis. The article further states how borrowing will continue, if students are unable to pay the tuition. Due to limited government funds, the ever increasing number of students wanting to borrow loans resort to private sources. Even though private loans have become an essential option, students borrowing these loans encounter further obstacles. Students who are unable to receive federal subsidized loans, which offer better forgiveness and numerous repayment options, are stuck with private loans. And due to the high interest rates of these private loans, students encounter further debt.
Open Document