The Student Load Crisis

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For many young people in the United States college education signifies personal success, stable job and a good life. However, this promise seems to be overshadowed by recent student loan crisis. People like Mary, a 27 year old college graduate are forced to take entry level jobs with salaries that barely cover living expenses. Mary is the first one in her family to achieve higher education and despite the fact that her parents worked hard to help her with tuition costs she was still forced to take out a student loan. Mary is not alone, according to the Federal Reserve Board in New York there are over 37 million students with outstanding college debt. (Brown at al.) These numbers are constantly increasing and student loans have become a serious problem in our country.
The underlying issue behind loan crisis is the cost of higher education. According to Jeremy Kisner, who is the president of SureVest Capital Management "The cost of college has been increasing at an average of 8% per year for the past 30 years, well in excess of the inflation rate." (Driscoll) Combined with the econom...

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