It’s no surprise to anyone that college today is much more expensive now than it ever has been. Even only 25 years ago in 1990, average tuition prices for all institutions were only around $6,562 a year, compared to $20,403 today (https://nces.ed.gov Table 320). It used to be possible to work a part time job and pay your way through college, taking on little if not no debt. Now it’s much different. Without having thousands, if not tens of thousands, of dollars ready before you enter the doors, it’s nearly impossible to go through college without taking out student loans. Though college undeniably has many benefits, the rising prices of tuition are beginning to outweigh the positives that come with getting a college diploma. First, a good portion
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This is true for many, as for according to the U.S. Bureau of Labor Statistics, those with Bachelor degrees earn over $400 more than those with only a high school diploma, and those with Professional degrees earn $1,027 more that those with a high school diploma. But also for many, college debts end up shaping their lives. In a Fox News investigation, “Here’s what $100,000 in student loan debt feels like”, they interviewed new college graduates and asked them about their student debt and how it affects them. Rhea Shannon, a 26 year old college graduate, took on $54,000 of student loan debt while in college. In her final year of college, her father died while on active duty in Afghanistan, leaving her with more than a devastating $50,000 of student loan debt she must pay herself. After she graduated from college, she began working as a production assistant at a television channel, but half of her paycheck went directly to paying off her student loans. Even so, she often misses payments and avoids creditors. When asked what she’d do if she could redo college, she said, “I probably would have taken one or 2 loans, and then I would have hustled. I would have picked up groceries in college, I would have babysat everybody, because they guarantee you a degree, but they don’t guarantee you a job, and they still want their money” (Shannon). Rhea is far from the only one where college
This is true for many, as for according to the U.S. Bureau of Labor Statistics, those with Bachelor degrees earn over $400 more than those with only a high school diploma, and those with Professional degrees earn $1,027 more that those with a high school diploma. But also for many, college debts end up shaping their lives. In a Fox News investigation, “Here’s what $100,000 in student loan debt feels like”, they interviewed new college graduates and asked them about their student debt and how it affects them. Rhea Shannon, a 26 year old college graduate, took on $54,000 of student loan debt while in college. In her final year of college, her father died while on active duty in Afghanistan, leaving her with more than a devastating $50,000 of student loan debt she must pay herself. After she graduated from college, she began working as a production assistant at a television channel, but half of her paycheck went directly to paying off her student loans. Even so, she often misses payments and avoids creditors. When asked what she’d do if she could redo college, she said, “I probably would have taken one or 2 loans, and then I would have hustled. I would have picked up groceries in college, I would have babysat everybody, because they guarantee you a degree, but they don’t guarantee you a job, and they still want their money” (Shannon). Rhea is far from the only one where college