Student Loan Debt

Michael Dell said "You don't have to be a genius or a visionary or even a college graduate to be successful. You just need a framework and a dream." Most people think that you need college in order to be successful, and although a college degree does help, there are more ways to achieve greatness. Having a college degree gives you a solid foundation of common knowledge in the field you wish to pursue. While college offers benefits it presents problems also. Such as; student loan debt is crippling for college graduates; student loan debt often forces college graduates to live with their parents and delay marriage, financial independence, and other adult milestones; many people succeed without college degrees. College is a reliable option, but what if you don't want the reliable option? There are many examples of people who turned out to be successful without a college degree such as Bill Gates, Larry Ellison, Amancio Ortega, Michael Dell, and etc. These are prime examples of why you don't need college, you just need a goal and determination. So why go to college?

And if they do go they graduate with tons of debt. Between 2003 and 2012 the number of 25 year olds with student debt increased from 25% to 43%, and their average loan balance was $20,326 in 2012 which was a 91% increase since 2003. 10% of students graduate with over $40,000 in debt and about 1% have $100,000 in debt. The average student borrower graduated in 2011 with $26,600 in debt. According to the US Congress Joint Economic Committee, approximately 60% of 2011 college graduates have student loan debt balances equal to 60% of their annual income. When you don't pay your loans or you're late paying your loans it results in bad credit and additional fees, resulting in a