preview

The American Dream

Decent Essays

The American Dream as we know it today has been the at the roots of economic prosperity, and financial freedom for many decades. It has been fostered by millions of people seeking a more successful life by pursuing their biggest goals. One of these goals was being able to, one day, purchase a home. Recently, however, this dream of home ownership has been steadily withdrawn from the minds of millennials. Ever since we were children, our parents, including mine, said that the best way to ensure a secure financial future is to get a great job and purchase a home. This ideology of a secure financial future isn’t as applicable as it once was. After the 2008 economic recession, millions of people lost their homes as the housing market collapsed. Since then, home ownership throughout the country has dropped significantly. The reason for this sudden drop in homeownership can be blamed on the financial and logistical issues of most millennials across America. For the past two decades, there has been a steady rise in undergraduate college enrollment as more and more students seek higher education. This increase in college education has caused many millennials to seek financial assistance through student loan programs. These programs are given to students to help finance their tuition, which, on average, is around $30,000 a year. Students who are seeking a four-year bachelor’s degree may require loans of up to $120,000. This high tuition paired with increasing interest rates on

Get Access