The Role Of Federal Loans Became Dependent On American Families

Decent Essays

When discussing further education for a high school graduate, attending a university is very costly. The use of federal loans became dependent on most American families that try to provide such an education to their child. Before World War II, academically advanced students from families that were unable to finance college could apply for competitive scholarships; Scholarships mutated into “financial aid” when the GI Bill of Rights financed college for the discharged veterans (Toby, 2010). Since then, student loan debt has surpassed $1 trillion, which is larger than debt accumulated from both credit cards and auto purchases (Student Loan Debt No Longer Just Problem for Borrowers, 2012). With the increasing amount of loans and the uprising cost of college, students fall farther into student debt every year. Whether it is at fault of the university, the poor economy, or the aid programs in general, students should not be required to pay back their federal student loans before finding a steady job in their field of study.
Fault at the University Attending college after high school has become almost a necessity for finding employment in this day and age. The average university, whether it be public or private, is charging an exceedingly amount of money for enrollment, causing the student’s debt to increase.
Tuition and fees have risen 26 percent during the past ten years at private four-year colleges, 47 percent at public two-year colleges, and 66 percent at public four-year

Get Access
Get Access