Essay on The Price Tag Of Higher Education

816 Words Sep 20th, 2015 4 Pages
The price tag of higher education in America has seen an all-time rise over the past five years. The younger generation of those in their twenties is often referred to as the millennial generation. The millennial generation are those who face the worse setbacks of the rise of tuition and growing student debt. It is important for us to be aware of the real price of education concerning the rising tuition and everlasting student debt. Student debt can provide immediate relief, but to millennials, it is setting them back years of starting a family while also being impossible to erase, and allows the government to profit a large sum each year.
There is a pattern of millennials starting families’ later in life and this seems to be due to the growing student debt. The average monthly student loan payment can be high as $600 depending on the amount owed. Recent graduates with debt have the hardest time landing a high paying job they have been working hard towards, because of such debt. The term “good debt” is often associated with student loan debt, however this has borrowers sitting uneasily. There has been a reported seven million people who have defaulted on their loans. This is when borrowers have stopped payment on their loans for at least nine months. Good luck to those applying for high paying jobs after college because more than half of employers run credit checks on applicants. The irony is that most will take on “good debt” for four years to work towards a high paying…

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