Essay The Option Of Higher Education Comes With A Price

1041 Words Feb 15th, 2016 5 Pages
The option of higher education comes with a price. Many individuals choose a form of higher education to provide employment opportunities and a lifetime of reassurances. Most, however, walk on a path of student debt to their destinations. Student debt, also known by its misnomer, “good debt”, produces negative consequences for borrowers that has many wonder if a college education is really worth working for (“Life Delayed” 3). The creation of loans aim to advance social mobility and to invest in America’s future status as a leading nation. It also assures that students with less economic capabilities would receive equal opportunities of having a higher education (“Life Delayed” 1-2). Despite its benevolent intentions, loans and debts begin to take toll on the daily lives of many. Student debt affects major life choices that may hinder a stable future for society and its individuals. School tuitions have been tremendously rising in the past decades. In 1985, the average instate tuition was $1,318 for a four-year public education and $16,121 for a four-year private education. By 2015, the average instate tuition grew to $9,000 for a four-year public education and $31,231 for a four-year private education (“Life Delayed” 2). This huge increase evidently shows the rising of tuition over the years. Statistics collected in 2014 states that tuition has risen 112% since 1990 with loans averaging out to $26,500 per graduate (“Sad for grads”). Student loan debt exceeded credit card…

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