College Costs How Much Essay Example for Free

College Costs How Much EssayGrowing up, students were taught to get a high education in order to make a comfortable living for them and their families. Now, those college alumnas are crippled with prodigious amounts of debilitating student loans and are unable to start a family of their own. According to the credit bureau TransUnion, the mediocre student loan debt carried by each borrower has risen 30% to $23,829 in the past five years. These graduates should be stimulating the economy by buying cars and ho utilizes, but instead they are sending their succumbchecks to the bank to pay back their enormous loans. The aggregated amount of student debt has soared over the past several years due to so many people deciding to go back to college after being laid dark from their jobs, a rapid rise in college tuition, and schools that give out worthless degrees. The New York Times states that in the 1970s, the median lock was 40% higher for college graduates than for those with ju st a high school diploma today, the wage premium has risen to about 80%.Although there are options to get a degree quickly, it is non always the best idea. It is concerning that some schools promise a degree in less time, yet complaint the same amount as a four year university. The Art Institute is one of the biggest despatchenders. They draw out a three year culinary program that costs close to $100,000 time the graduates only number about $12 per hour after graduation. It is impossible to pay back those types of loans with basically a nominal wage job.Also, possible employers would much rather hire someone who has been studying the subject for four to six-spot years rather than just a few months, so it can be very gainsay for those students to find a job. The fact that our state of matters student loan debt is currently valued at $1 trillion dollars, while the cost of tuition is rapidly increasing, is the well-nigh concerning effect of this crisis. Today, about fractio nal of college graduates are either underemployed or do non have a job at all.The tide is not going to turn until the job grocery improves. One of the problems in the job market is that jobs are not opening up as quickly as they should because people are push button back retirement to help pay for their childrens loans. Students fresh out of college are putting off getting married and starting families because they do not have the secure job future they were promised would succeed with their college degree. Families have also decreased in size because parents are not able to afford as many children.Public schools are overflowing with students because the alternative private schools are just too expensive. This debilitating debt could cause the millennials, people aged 18 to 34, to be one of the first generations in America to not make a better living than their parents did. It is not ethical to force such a bear-sized amount of debt on an 18-year-old who has never even had a cr edit card before. Too many schools use students as pawns to make thousands of dollars than actually helping them succeed and become a member of a process society.The student loan debt problem is going to continue to rise dramatically unless we stop the problem where it started- the envious universities and for-profit schools. Our government needs to make laws and restrictions based on how much a school can missionary post for tuition. Because filing for bankruptcy with student loans is impossible, the schools continue to raise the cost of tuition knowing that they will most likely get their money in the end.Now, we have schools charging ridiculous amounts for a mediocre degree while the average graduate makes about $12 an hour. There is no way in the world that graduate would be able to pay off those gargantuan student loans without having more than one job. Tuition should be a percentage of the average income of an employer with that degree so that it is possible to pay back in a reasonable amount of time. If schools went back to offering a great education for an affordable price our country would have a much easier time fixing our limping economy.