Right now, the cost of college at a four-year institution is at an all-time high with an increase of 1,122 percent since 1978, and each passing year, more and more students take out loans in the hopes of being able to pay it off quickly (Ellison). The sad truth is that most adults can not get a job that pays enough to cover their student loans. During the 2012-2013 school year, about 10 million college students took out student loans, which is a 66 percent increase from a decade earlier (Should College Be Free? Pros, Cons, and Alternatives). This adds to the millions of overwhelmed adults already in debt, who are no closer to paying off their loans. “Student loans have become the largest form of personal debt in America, even bigger than credit card debt and auto loans” (Ellison). Over $80 billion are spent each year by the federal government on post-secondary financial aid, this represented over 70% of all student aid in the higher education sector (Should College Be Free? Pros, Cons, and Alternatives). This means that college is so expensive that financial aid still needs to be supplemented by student loans in order for students to afford college. Free college would end the burden of student debt and in turn result in a more prosperous
Right now, the cost of college at a four-year institution is at an all-time high with an increase of 1,122 percent since 1978, and each passing year, more and more students take out loans in the hopes of being able to pay it off quickly (Ellison). The sad truth is that most adults can not get a job that pays enough to cover their student loans. During the 2012-2013 school year, about 10 million college students took out student loans, which is a 66 percent increase from a decade earlier (Should College Be Free? Pros, Cons, and Alternatives). This adds to the millions of overwhelmed adults already in debt, who are no closer to paying off their loans. “Student loans have become the largest form of personal debt in America, even bigger than credit card debt and auto loans” (Ellison). Over $80 billion are spent each year by the federal government on post-secondary financial aid, this represented over 70% of all student aid in the higher education sector (Should College Be Free? Pros, Cons, and Alternatives). This means that college is so expensive that financial aid still needs to be supplemented by student loans in order for students to afford college. Free college would end the burden of student debt and in turn result in a more prosperous