How The Escalation Of Student s Debt Has Impacted...

According to statistical data released by the Institute for College Access and Success, nearly two-thirds of the total number of students graduating from American institutions of higher learning is leaving school with some level of debt (Dwyer, Mccloud, Hodson, 2012). As revealed by the data projections, learners who are average borrows are graduating with a debt of an upwards of $ 26,000 in debt. With the total count of the debt crossing the $ 1.3 trillion mark, the issue is alarming and needs swift action before it worsens. While the average American believes that a degree is a pathway to a successful life in America, the burden of debt combined with the lessening educational and financial returns are frustrating American graduates,†¦show more content†¦This surge of tuition prices has left most prospective American students at risk of failing to secure a chance in one of the institutions of higher education. However, in the attempts of providing solutions, the government introduced educational loans that were repayable after completion of their respective course. This was where the challenge began since most of the students who received such loans faced challenges of repaying the loans they were given by the government. There arose the burden of debt since the loans students were given very expensive because institutions were charging high prices in the first place. In result, after students complete their course in this institution, the amount they have to repay for their loans becomes much to bear. The root of the debt burden problem lies with the institutions themselves, which are expensive to afford. However, institutions of higher learning might not be the only ones to blame since in most cases they respond to prevailing financial demands related to the provision of the educational programs they offer. For instance, due to increase in the cost of electricity and food, a university or a college may be forced to charge more to account for the additional expenses the institutions have to have for electricity. Similarly, due the rapidly changing economic times, the cost of running institutions over time certainly increased and newly admitted students had to pay for the