The Problem Of Student Debt

901 Words4 Pages
I. Definition of the problem: Student debt has become a major problem for our college graduates to not only to start their career but also starting their lives living independently.

a. Symptoms. How does the problem show itself, or what are the difficulty? With the high tuition, books and supplies, graduates are paying more that they can afford for their education. The average Virginia college graduate leaves school more than $29,000 in debt (Marcus). Unfortunately, students feel like they have to go to college to succeed in life and with the rising cost of school, their debt can only get bigger.

b. Size. How large is the problem? Increasing or decreasing? What result can be expected if the problem is not solved? According to the Department of Education, federal student loan debt totaled $1.2 trillion this year, after skyrocketing from $55.9 billion in 2005 (Marcus). At public colleges, tuition has generally been driven up by increased spending from administrators, student support services, and the need to make up for reductions in government subsidies, according to a report issued by the Delta Cost Project, a nonprofit based in Washington, D.C.(Kim). Since the recession hit in 2008, students and graduates have been faced with the reality of unemployment after graduation. More often than not, graduates find themselves moving back home after graduation because high loan payments prevent them from being financially independent (Shabazz). If the cost keeps rising it can may
Get Access