The cost of a college education today is ridiculous , especially considering that the weight a degree carries has greatly decreased. Not only has the average price of a four year college doubled since 1985, but amount college debt has also passed our nation’s credit card debt. Student loan interest rates have already risen this 2014 2015 school year. We are borrowing more to pay for college as the cost increases substantially. Education debt today is about 1.2 trillion dollars. Its hard to even imagine what is equivalent to this number. For the new year beginning in july (according to bloomberg.com) loan rates will rise to 6.21 percent from 5.41 percent in 2013-2014. Congress last year agreed to cap education loan rates at 8.25 percent for undergrads, 9.25 percent for graduate loans and 10.5 percent for plus loans. How are young adults fresh out of college supposed to find a decent job with their degree, an apartment, and become a successful member of society with crippling debt. Many work part time jobs because finding jobs today is relatively impossible, but still these jobs will not make enough to pay off the bills. Students today are forced to look at the price tag of a college instead of going to a school where they will ultimately be successful.
It's really deplorable,Ashley!
ReplyDeleteMake sure you and your friends and relatives take political action. Write your congressional reps, know who you're voting for, etc. This trend can't be allowed to continue.