Student Debt

In America, the amount of student debt obtained by both private and public forms of higher education is at an all time high. In just 30 years, the cost of attending college raised by forty percent, which is extremely sad considering a college education is all but required to get a decent paying job in the US.

Unlike most debt, there is no way to escape the debt of student loans. Not even bankruptcy can remove the debt obtained by students. This means that, while big corporations are bailed out by the government all the time, our students have no choice but to pay their debt, regardless of whether or not they have job.

What is the amount of student debt in America today? More than $800 billion dollars, which is more than the total of what is owed in credit card debt by Americans today.

If college students are spending so much on their education, they must be getting great, well paying jobs, right? Unfortunately, this is not the case. Nearly 10% of college graduates are still unemployed three years after obtaining their degree. Three years is a long time to spend without a job when you have a mountain of student debt piling at your feet.

Is anything being done to lower the amount of student or the cost of an education? It doesn't seem like it, but hopefully one day young people will be able to go to school without the thought of student debt hanging over their heads while they study.

Latest articles