Does one even have enough to pay standard bills? The cost doesn’t stop there, so were those thousands of dollars spent really worth it? That’s what most ask themselves at night when they can’t sleep because they’re figuring out how to pay their light bill. The ground on wages fluctuates by year, “hourly wages for young college-educated men in 2000 were $22.75, but that dropped by almost a full dollar to $21.77 by 2010. For young college-educated women, hourly wages fell from $19.38 to $18.43 over the same period” (“New College Grads Losing Ground on Wages.”).
Lowering tax rates was another economic change that people said lead to the recovery. Unemployment went from 10.8 percent in December of 1982 to 7.4 percent in December of 1984. Inflation fell from 10.3 percent in 1981to 3.2 percent in 1983. Industries that were hit the hardest during the recession made dramatic improvements; these industries were paper and forest products, rubber, airlines, the auto industry, construction and manufacturing, and the savings and loans industry. During the recession and towards the end of the recession in 1983, President Ronald Regan’s approval ratings were at an all time low.
Student loan debt loads have been spiraling, doubling over the last decade, and the enrollment rates of young people from lower socio-economic groups are rising far slower than middle and upper groups. Governments must recognize the renewed public investment in post secondary education is an economic and social imperative. 6.7 million borrowers in repayment mode are delinquent (Snider 1). The sad fact is that many lenders aren't exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans can't be discharged in bankruptcy.
Why College Isn’t Worth It Attending college is something that many High School students look forward to as a buffer or a way to make the transition into adulthood easier, but a rising question has people considering: Is going to college really worth it? While some describe college as their best years, it leaves most attendees in debt and with a degree they may never use. Between tuition fees, traveling, housing, food, and textbooks, all college students are bound to owe at least a few thousand. In 2014, the average student loan debt was between 24,000 and 33,000, varying by state. “Seven in 10 seniors (69%) who graduated from public and nonprofit colleges in 2014 had student loan debt, with an average of $28,950 per borrower.
Furthermore, as the federal poverty line is considered to be roughly $23,050 for a family of four the population that falls below that level take up nearly twenty percent meaning that these families without aid will not have the ability to attend college. Ultimately, free education as a whole may be a great idea to bring America up in global education levels along with stopping the continuous growth in student debt however at this point in time it seems impossible. In addition free higher education in the United States would require a complete reshaping of the economy as the U.S has a national debt that is reaching near twenty trillion dollars along with the recent president elect Donald J. Trump being a member of the top 1% the consideration of the lower and middle class people will likely be overpassed for the businesses of the
Then public funding for higher education was reduced drastically. “In 2006, the last year for which [Jane] Wellman had data, state taxpayers sent $7,078 per student to the big public research universities. That 's $1,270 less (after accounting for inflation) than they sent in 2002.” Kim Clark (www.usnews.com). But the overall public university spending per student has ascended 12,400 to 13,800, up to 11.3% over the span of 10 years. In community college, where half of the country’s college students are educated, tuition has gone up while spending on classroom teaching has decreased.
That point is true, but it is unimportant because there is a greater amount of people with only a high school diploma being unemployed compared to people with a college degree. As reported by CNN Money, on a recent chart it shows the unemployment rate for high school graduates at 5.6% compared to the unemployment rate for college graduates which is 2.5%. This data proves how both high school and college graduates may be unemployed but there is a significant difference between how much more high school graduates are unemployed than college graduates. Some people may argue that college sets students back a lot of money. But that is not the case.
The reason being is because college is just simply to expensive. College students make roughly $1,400 a month and about $10, 200 every year. $10,00 dollars isn’t nearly enough money to pay for four or more years of college. “Making college free would have one additional benefit: It would drive the for-profit schools out of business. They now enroll 13 percent of those currently attending American colleges, or 2 million students.” Radical Futures stated in their article, making tuition free will drive people to go to college.
Have you ever wondered if your beloved old aged grandparents could be affecting you financially? Here is some background information. Your beloved grandparents were most likely a part of the “Baby Boom” generation (classified as born from about 1946 to 1964). In the late 1970’s to early 1980’s the “Baby Boom” generation overtook the work force and was the main contributor to the economy. Now that the Baby Boom generation aren’t even close to babies anymore and they’ve worked for 30+ years, they are starting to retire and take advantage of the resources that the government has for them once they reach the age of 65.
According to collegedata.com, an average college student has to pay $32,405 for a combined tuition and fee cost for a private college. On average, a college student makes $1,200 a month through part time jobs and help from a parent; that’s only $14,400 a year. Getting a scholarship of a couple hundred dollars, depending on your school, won’t always be enough to pay for college. Based on an Edward Jones survey, around 83% of americans have said that they can’t afford to go to college, and college prices are always going up. If college students can’t afford college, then why doesn't the government lower the cost or pay for the college?