The high cost of College

The cost of college is increasing faster than the rate of inflation. In fact, in some states college is more than double what it cost just ten years ago. There are a variety of factors in this, but the major effect is that students today are saddled with a huge amount of debt. It is difficult to prosper financially with a load of student loans.

Student loans are a major problem in society today. A recent report looked at how the high levels of debt from college students causes a delay in home purchasing.

Young people today graduate with an average of $30,000 in student loan debt. This is a huge issue to overcome early in life. Student loans are difficult to pay off for many reasons.

Avoiding the student loan trap

Many college students think that getting a degree is the path to a successful career. For anyone who has spent five minutes in the real world, this naive thinking is almost cute. However, college degrees are not what they used to be in the market place.

Anyone who wants to start earning more money needs to have a college degree with some value. Getting a degree in a random field is not a smart choice. If you do have to borrow money for school, make sure that you are going to have good career prospects. Some degrees are worth the expense of both time and money. However, there are plenty of degree options simply not worth it.

Government response

Both Donald Trump and Hillary Clinton have talked at length about student loans.

Many middle class families are having a difficult time paying for school. People at opposite ends of the income spectrum have a nice set of benefits in paying for school. Instead of going to college, a lot of young people are simply starting their own business. With the success of social media companies like Facebook and Twitter, young people see an opportunity in this area. The government caused a lot of the current issues by making it easy for people to borrow money.

What are your thoughts on the student loan crisis?

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