by: Kevin Vickery
According to Kelly Holland of CNBC, the average amount of student debt is just over $29,000 and climbing. This upcoming May, many seniors will be graduating college, owing thousands of dollars, with no guarantee of a well-paying job. Unfortunately, interest rates on student loans are incredibly high. The unfortunate truth is, many college students drop out because of the expense, and many kids don’t even go to college at all, simply because of the cost.
In today’s world it is very important that students are educated in high school, as well as college, on how to manage money, and how much money to reasonably expect to owe, once done with college. For students it is very important to understand exactly how much student loans will affect them, and to try to find jobs before graduating instead of waiting until after.
The reality is that college is a business and no matter how they try to sugar coat it, the truth is that they are out to make as much money as possible. It is insane to think that other countries like the U.K offer free college to anyone that meets the requirements. America needs to address the issue of rising student debts now and not later. Money should never be the main reason that someone doesn’t go to college.
So what do you think? Should tuition be free? Cheaper? Let us know in the comments below.