Dear Future President,
The cost of getting a college education has risen far too high and is causing people to be in debt many years after they get their degree. The only way to not have a huge debt after you graduate is to have many scholarships, but even then the price of books, fees, dorms and other things cost so much that they take up most of a students paycheck. The debt owned by all the graduates likely doesn't help the economy. So I feel that this issue must be addressed.
One of the most obvious issues with high cost is the amount of debt. One way to help people not be in so much debt due to college is to lower the cost of tuition, fees, dorms, etc. If the price is lowered. especially on tuition, fewer people will have the need to take out a loan and be in debt. The reason why debt is such a big deal is because according to "But can America afford this approach to solving student debt", as of November 30th, 2015 the total student debt in the U.S. is around to $1.3 trillion. That money is then later having to be paid by those who own money. In the end those who bothered going to college and getting a degree end up making the same kind of money as those that didn't because they have to pay their debt.
Another issue with high college cost is that it discourages people going to college due to the high price. There are many people who don't feel like going to college due to price alone. It has become a joke that those who go to college are broke and have to improvise with things. Many take this seriously and are discouraged from going to college because they can't afford it. I myself know many people who refuse to go to college because they have average grades and feel that they won't get the scholarships that are basically necessary in order to go to college at an affordable cost. It is a shame that they can't get the higher education needed to get a decent job simply because they have average grades and can't get scholarships.
The last issue that comes with high college cost that I will address is that the huge amount of debt due to student loans is hurting the economy. According to " Rising College Cost add to $1trillion student loan debt, Widening U.S. Wealth Gap" by Carolyn Thompson, about 40% of house holds led by someone 35 or older has student debt. Due to so many people having to pay back student loans, less people are buying cars, houses,etc. This is not only hurting the economy, but the people who have to pay the loans as well. Since they are paying the loans, much of their hard earned money ends up going to paying their debt, causing the amount of homes and expensive personal items to drop over the years as the cost of college rises.
In conclusion, the high cost of college is causing issues in the economy, to people who want to go to college but don't have scholarships and is causing more people to not pursue a higher education. The high percentage of people that have debt are causing there to be less purchases in cars and homes, hurting the economy. People decide not to go to college due to the high price and therefore don't get a higher education then required. Lowering the price would solve most of these issues.