I decided to explore three articles referring to college debt. This is a subject I’m not particularly well versed in, but it impacts me and my family as well as people I know. In applying to colleges, I have learned that achieving a higher learning degree is expensive. I have had to do my own research on ways to supplement money for a university degree. These articles illustrated how deeply college debt impacts the United States and which specific populations are affected by this epidemic.
The total student loan debt in the USA is $1.52 trillion. States with larger population naturally have the larger student loan and, subsequent debt, amounts. Surprisingly, the largest increase in student loans in the past ten years has come from the age 60-69 demographic, however prominent this increase is, this is also the age group with the lowest increase. The age group demographic of 30-39-year-olds have faced the greatest increase in amount. However, people under the age of 30 still owe the most money. These statistics are provided by Forbes.
My favorite article that I looked at was the third: Betrayed By the Dream Factory. This postulated ideas based on the massive student loan debt in America that stated college as potentially not being worth the lifetime of debt and loans it gives people. I think that obtaining a higher education is more than worthwhile, but the severity of financial injury it is bestowing upon the next generation of Americans is not worthwhile. How well does a college education face up to a crippling debt that quells the dreams one went to college to realize in the first place?
Most of all my research and annotations made me a little scared for how wanting to obtain a college degree is going to impact my financial situation in the future. I think that there are a plethora of solutions that could be implemented to lessen, or even relieve, the massive debt on students’ shoulders, and I think it is the American government’s responsibility to deal with this major issue.
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