I'm a junior.
Which means theoretically, I have 4 quarters left until I graduate. Which means I have been in college for 4 semesters and 2 quarters (Freshman and Sophomore year were spent at a junior college). < Because of this very true fact, I was able to save myself and my parents money. I paid approximately $600 per semester my first 2 years of school. Now I'm at a California State University where my tuition is roughly $1800 per quarter.
I can't complain though. I have friends who are attending schools with close to or over $20,000 in tuition. This is also the approximate amount of what a NY Times article is saying the average student loan debt of a college student acquires in a 4 year time period (Exact amount is $24,000).
Want to know how much debt I have? So far, $4500. Thankfully for me, between my parents and an amazing scholarship program I am part of, I will graduate in 2012 without the burden of debt as I enter the real world- of course when I say this, I mean excluding my credit card debt (about $200) , but I'm not worried about that either.
My concern is for my fellow students and the unnecessary/unfair pressure that is put on them to pay these high loans. If all a student is trying to do is succeed in higher education, why would the government continue to require loans instead of issuing more grants? Part of the problem lies with the college system in general and the insatiable need to make up for any money that they may want or lose, by sticking it to the students with a higher tuition.
By next quarter, tuition at my own school will be raised by 10%. That's a huge increase. It will only go up from there. We need to take back our education and demand lower tuition costs. College should be affordable for everyone, not something that we will still be paying for years and years later. You can put a price on education and unless someone stands up to the increases that cause more debt, this price will only continue to rise.
I as well saved myself a lot of money by attending the junior college however, within my 2 years here I have racked up a sum total of $10,000 in debt. I can see where the author of the article can view college debt as a "good debt" b/c it ends up working as a investment in the long run. However, essentially this debt becomes a burden upon the individuals health and lively hood.
ReplyDeleteAs you said it is the loan companies and interest rates. It comes down to a miseducation. Its rather an paradox as well... Students goto college to learn, yet we are not taught the most important thing of all: how to manage student loans appropriately.
Sad to say it's because America has allowed corporations to corrupt.
I completely agree. Its very paradoxical that students who want to have a better income and successful careers are made to pay ridiculous amounts of money for colleges to gain their degrees. There are many people who cant handle the tuition costs and are therefore stuck in the no money lifestyle because of no money.
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