THIS is the Entitlement Mentality that America has become.
I wonder of those 1 in 5 households if there has been a survey to determine if those student loans produced a degree and a job commensurate with the degree for those individuals? I would discount waitressing at Dennys as an appropriate job for a person with a masters degree in ancient history or gender studies. I suspect a significant number of the not completed degrees and the awarded degrees were not worth the cost or effort of attaining them.
You borrow it - you pay it off.
If you must got to school but can’t afford it, get a job and work your way through one you can afford.
If you do go in debt make sure it is to learn a useful, marketable skill.
Not suprisingly, Colleges are spending big bucks to attract out of state students, because they bring in the cash. They are doing this by putting on concerts during orientation week featuring pop stars. It’s particularly hysterical how the administration at many of these schools feign shock at making the top ten party school list. You would think from some of the promotional videos it’s a four year summer camp with optional classes.
My youngest graduated in May, she had the choice to go to school for free in Germany or for free on scholarship here. She opted to stay in America for now... but all of her friends have had to take out some sort of student loan package, including non Stafford through private companies. Here’s to hoping they are getting degrees that will lead them to a specific profession.
If my kids hadn’t gotten merit scholarship awards, I would have had them go to community college for two years and then transfer to a state University. Most students could pay for that themselves with a side job and full time summer employment.