College Education and Credit Card Debt

Towards the end of high school, students across the US are tasked with knowing exactly what they should do with their lives and whether higher education is an option. With new advances in vocational as well as advanced placement and college readiness courses, implementing and offering these programs to high school students have made it much more simplified in creating a career path. Co-op and job shadowing at early ages better prepares a workforce but also creates a larger divide in being career vs college ready.

However, living in a more advanced world students are feeling more pressure than ever to attend a major university if not some community college. How can everyone afford this though? Higher education is certainly not for everyone, and with tuition rising across the nation it can be discouraging to apply. Governors in more than ten states want to cut spending for universities and colleges in favor of cutting taxes and shrinking the gap within state budgets.

A great point is made within the article that investing in higher education is an investment in community and society. The correlation between any type of college degree and average salary increase cannot be ignored. With an increase in global GDP, it is likely that the local and state budgets will straighten themselves out and tax income will grow as well and unemployment rates decreasing.

How does this relate to student loan debt though? By telling students it is essential to have a degree in something, naturally the belief is you MUST attend college. In 2017, the average student loan debt was around $37,000 while students around the world racked up about $3000 in US dollars every second. With state and local representatives looking to solve other issue, students are being put on the back burner with no where to go but the bank. It will be interesting to see how universities and private college attendance rates fluctuate if nothing is done to support the world’s future.