American student loan nightmare
There was once a time when a college education was affordable. Young adults could finish college, have minimal student loan payments, and be able to enjoy life.
But now, college graduates are having to put off buying a home, and even delay starting a family due to student loan debt.
The average college student owes around $35,000 in loans + interest.
The federal government has close to a trillion dollars in student loans. A lot of those students will take decades to pay back their loans, if ever.
Wages have been stagnate since the 1990s. Think about that. If wages have stagnated, how are people supposed to pay for an expensive education?
Why are students getting degrees in useless fields, such as political studies? We need more engineers, and less basket weavers.
Why aren’t people utilizing community colleges instead of more expensive universities? There comes a point where a degree will never pay for itself. But people seem to ignore that fact.
Zero Hedge – The Student Loan Bubble In 19 Simple Charts
The Economic Collapse Blog – The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs
Survivalist Boards – Millions imprisoned by student loan debt
With no solution in sight, what are future college students supposed to do?
Its kinda like the housing bubble. When the cost of housing got so expensive everyday working people could no longer afford to buy a home, the market crashed. What is going to happen to this nation when people can no longer afford to get a higher education?
How is the United States supposed to compete in the world market when young people can not obtain a higher education? Where are our engineers supposed to come from? Where are our doctors and teachers supposed to come from?