The Increase Of Higher Education

Attention-getter: The increasing trend of college students graduating with significant more student loan debt than job prospects is both alarming and detrimental to the future growth of the nation. The cost of education and the widespread of federal student loans have created an education bubble to rival the housing boom that sparked the recession of

An education is one of the most important tools a person can acquire. It gives them the skills and abilities to obtain a job, earn a wage, and then use that wage to better their lives and the lives of their loved ones. However, due to the seemingly exponential increase in the costs of obtaining a college degree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. Without question, the increasing national student loan debt is one of the most pressing economic issues the United States is dealing with, as students who are debt ridden are not able to consume and invest in the economy. Therefore, many politicians and students are calling

After the United States ‘Great Recession’ in 2008, many onlookers have been searching for other aspects of the economy that may eventually present a bubble similar to that of the housing market. It does not take long to locate a potential hazard as the cost of tuition has risen approximately 26% over the course of the last decade (‘Tuition and Fees’). The consequence of this increased tuition is having a negative effect on the future that most graduates try to obtain once they complete school. Some students are required to change their career choices due to the overwhelming debt; examples of this could be they are required to take a higher paying job, even if they do not want to, so they can afford their previous choices (Zhang). Many years ago the notion of being so overwhelming in debt seemed unfathomable; but as student loan debt is estimated at $870 billion to $1 trillion, students’ willingness to acquire debt is strong and has no signs of slowing down (Razaki, Koprowski, Lindberg). The steadily increasing student loan crisis will cripple the United States economy if it goes unchanged.

Along with the average tuition increasing, so has the average income of Americans. In order to afford college tuition, student loans, financial aid, and scholarships come in handy for the time being. Unfortunately, American’s who have finished college still have a load of debt to pay off for many years after graduating. Americans are spending money they don 't have to finance educations they are not sure are worth it. In some cases, students who find jobs right out of high school are left without college debt, but also without a degree. On the other hand, many people who attend college have large college debts yet have a decent

College debt is becoming more of a drastic problem in the United States with the rising costs of college tuition. In “Why the Student Loan Crisis Is Even Worse Than People Think” Mark Kantrowitz expresses how the issue of student debt in America is to be blamed by the government’s lack of action. In “Is College Doomed?” Graeme Wood expresses the benefits of the new and innovative univeristy Minerva. A perk about this university is that it includes the cheaper tuition than other ivy league schools because of its lack of all the componenets of an average university. The government needs to be more involved in preventing future college students from graduating with overwhelming debt.

In 1976, the average cost to attend a four year public university was $2,175; today, the average cost to attend a four year public university is $25,000 (Snyder). This means it is 1150% more expensive to go to college in The United States today than it was 30 years ago. This obviously would create a problem on how we as people are going to pay for our higher education. Today college has become almost a necessity to have a satisfactory life, and with these rising prices some individuals believe student loans are the only option. There are many reasons as to why the prices have risen, but the one undeniable fact is that this has created a problem within our country. Which, is known as the student debt crisis, and it has been on the rise the past couple years. This problem is affecting people all around the United States, and is causing multitude of problems for them all because they wanted to pursue higher education. Wanting to better your opportunities by bettering yourself is not something that needs to be punished, and sadly that is what is happening. This problem is something that needs to be fixed for the sake of Americans and our economy, but will also take time and a multitude of steps to correct.

In the U.S. students are encouraged to earn a college degree, but the cost of an education turns many away. “Driven by the allure of a decent salary with a college degree, Americans borrowed to go to school. Outstanding student debt doubled from 2005 to 2010, and by 2012 total student debt in the U.S. economy surpassed $1 trillion” (Mian, Sufi 167). There are plenty of opportunities to obtain funds for college, including one of the most common, student loans. A student loan is defined as “a common way to fund education, specifically college and graduate school, and they provide educational opportunities that you otherwise may not be able to afford” (Barr). Student debt is at an all-time high in America. Over half of all lower income

Student loan debt in the United States is expanding unrestricted each year. There are 36 million Americans today, holding over $740 billion dollars in student loan debt. (U.S. 2013) The current student loan system is intended to open doors to economic prosperity for those who could not otherwise afford to go to college. Research suggests that the unintended consequence of too much available student credit is real people losing prosperity and languishing in debt for extended periods of their lives. Reducing or eliminating the availability of student loans would have a tremendous impact on improving the lives of Americans. If things continue the way they are now, American’s will soon find college, and its implied ticket to economic

Post-secondary education comes at a very high price. The excitement of graduating college to land the six-figure job is soon destroyed when you realize how much debt you are in. Dreams of owning a house and starting a family is shattered by the money borrowed to provide and guarantee students a better future. Instead of waiting to land that perfect job, students are forced to work multiple jobs to help ends meet. Struggling to stay afloat, millions of students are becoming victims of one of the major economic crisis in the United States; Student debt.

Most people would agree that getting a degree would make life easier as opposed to ending education with a high school diploma. With the shortage of career opportunities, jobs are becoming more competitive and most require higher education. College has become necessary and so consequently, it has become more expensive. While loans have made it possible for nearly anyone to attend college, because they are given too easily, the costs of college has increased even more. A cycle of giving loans and raising tuition is created and as a result college students are burdened with a colossal amount of debt. The issues of student debt go beyond affecting graduates’ lives and begin to cripple many areas of the economy, as well as hinder forward mobility.

student debt crisis has reached an all time high with debt reaching a total of 1.3 trillion dollars across the United States.With tuition cost increasing,lack of scholarships and unpaid back loans,student debt will continue to increase even higher.The enormous amount of debt put upon each student creates the inability of those students to help the economy grow.Our economy as we know it is a loop and decreasing the student debt significantly will help the economy grow.Instead of putting that money towards the government where it won 't be used to help decrease the student debt as we can see by the total debt, it should go to the community, such as purchasing homes,cars,consumer goods,sales tax which will help improve the economy even more.Crippling student debt is stifling the growth of the U.S. economy because it inhibits graduates from being able to spend money on consumer goods and home purchases. To alleviate this, lenders should be required to forgive student loans in cases where students are unable to repay their debts,decrease a cost of attendance,and increase scholarship opportunities from universities.Doing so would benefit the growth of the economy by increasing tax revenues, unfreezing credit markets, and creating jobs.

In the United States today, the number of students graduating college with student loan debt is quite astonishing. In the article titled, “How the $1.2 Trillion College Debt Crisis Is Crippling Students, Parents And The Economy”, we will examine and break down the student loan debt crisis by the numbers. Today, almost two-third’s of students graduating college are graduating with an average of $26,000 in debt. For most students, $26,000 is a lot of money when the average annual income for a first year graduate is only in the mid $40,000 a year range. According to the Consumer Financial Protection Bureau, student loan debt has reached a new milestone, crossing the $1.2 trillion mark (Denhart, 2013, Introduction, par. 2). With student loan debt levels

The cost of attending college has risen drastically over the years. Statistics show that there has been a 260% increase in tuition costs since 1980. The increase in tuition cost equates to an increase in money borrowed to fund higher education. An increase in money borrowed results in an increase in debt accumulated over time. As a result of the rising figures, the economy as a whole has also suffered because of the restricted financial space many graduates find themselves in upon completion of their degree. In this paper, we will discuss college costs, reasons why they have risen, and the best way for students to pay for it.

The cost of tuition at colleges and universities in the United States has seen a steady increase over last several decades. Since the 1980s, the list price for tuition has risen by roughly 7% per year, while the inflation rate has averaged 3.2% per year. The effect of this mismatch in the rise of the cost of tuition versus the average inflation rate has had monumental effects on the ability of students to afford a higher education. This, in turn, has forced more students to take out increasingly large amounts of loans, causing for the national student loan debt to grow to over $1 trillion dollars, more than total credit card

If an aspiring college student doesn’t have the necessary funds to attend school, there is another option they could use to pay for school. Student loans are a popular choice so that the student can pay for school. While this may seem like a great option for affording school, it can be a devil in disguise for many. The New York Times reports that Americans owe over 1.4 trillion dollars in student loan debt (Kelly 1). This happens when a college student takes loans with the belief that the college degree they get will help them achieve a higher salary which will in turn will help them pay off their debt. This often isn’t the case. A student takes the loans and attends school, but does not receive the salary that they were hoping to acquire from attending school. A standard payment plan for students is to pay off their debt in ten years, but according to a study conducted by US News, the average bachelor degree holder takes twenty-one years to pay off (Bidwell 1). This is a common occurrence as well, a report conducted by The Institute for Collee Access and Success shows that in 2012, seventy-one percent of college graduates had student debt (Serrato 1). The current system that the government offers to help those struggling to afford a secondary education is a flawed program that needs restructuring.