Dear Upcoming President,
Have you noticed that from 1982 to 2007 the percentage of college tuition has gone up to 439 percent? Not just that, but the fact that an estimated 46.3 percent of student loans go into default! Financial aid and loans help out a great ton but with interest rising without ceasing it is just truly mind blowing. It doesn’t matter what type of loan method one uses, the end result is always higher. Also, it is not likely that most to all undergrads would be getting the financial aid or help that they need. Money is especially not guaranteed. I’m sure you are educated enough to know since you are where you are at the moment.
The average student loan debt is estimated to be 28,000 dollars causing loan defaults when the loans are not paid. Besides that, when parents save up for their children’s college tuition, it is amounted to be worth more than one’s house! The tuition increase is only going to get worse before it gets any better. Just imagine how much that adds to be with 21.2 million college aged students in 2010 and even more today due to the very few decent jobs for kids with just high school education. The economy is demanding for more educated people yet with the college tuitions sky-high it just makes it difficult to fulfill the needs.
Even Bernie Sanders and Hillary Clinton, both from the 2016 Presidential Elections, agree that at some point College should be free for students seeking a higher education. Or at least starting at new and lower rate of loans for kids that are from low-income families. Some college students are already forced to take alternative routes such as financing education and acquiring jobs. “Yes, tuition payment can be postponed for a maximum of 3 years,” but the interest does not just stop; it continues.
In conclusion, college tuitions should be decreased for it only causes loan defaults. Especially, since loans will be limited soon it will be hard for college grads to pay off anything making them take alternative routes. “Forgiving student loan debt would have an immediate stimulating effect on the economy.” Responsible people who did nothing other than pursue a higher education would have hundreds, if not thousands of extra dollars to spend fueling the economy,” Robert Applebaum wrote.