If your a college student or graduate, then we’re sure your dealing with student loans; as they relate to the rising college tuition costs. We have been following the issues with college tuition cost, for months now, and few people seem to be addressing the issue at hand, which is the rising costs of college tuition. College tuition rose over 600% since the year 1980.
The rising college tuition costs have made living a quality life, extremely difficult for many recent college graduates. As college tuition continues to increase, people are forced to take on more debt, in order to pay for the rising tuition.
A recent study concluded, that 85% of recent college graduates, have returned to live with their parents, upon graduation. The reason for this seems to be, because most recent college graduates complete college with large amounts of debt, and are unable to afford to live on their own.
In addition, while the job market has improved, innovation which leads to higher demand, and opportunities; seems to also be low, which appears to have resulted in a slower economy.
This is the first time in U.S. history, where the percentage of people with student loan debt, is higher than the percentage of people with mortgage debt.
However, Congress seems to unfocused on the issue at hand. Instead, they are fighting to keep interest rates on student loans, from increasing. And while that does provide temporary relief to college students, it doesn’t resolve the crisis, resulting from increased college tuition costs.
Most colleges and universities, receive federal subsidies; however instead of applying that money, to keep college tuition low, they continue to increase the costs of tuition and college expenses.
Legislation needs to be enacted, to address the issues with colleges and universities, charging excessive amounts of money to attend. Those universities and colleges, who receive federal subsidies; should be required to keep college tuition costs affordable.
That legislation will then result in bringing down costs of attending college, thus decreasing the amount of student loans, future college students will need. This is what we want our politicians to focus on.
We encourage our young people to step up, and get involved. Make sure you pressure your local officials to do something to address the issue at hand. We have the power to make sure this issue is addressed in the general 2012 election. Lets all do our part, and get involved!