College debt ruining lives
I think we can all agree that college is way too expensive. When it comes to getting an education some individuals cannot afford the ridiculously high prices of universities. In the end this leads many to either not further their education or have to settle for a school that is not their #1 pick.
The price of college really has a domino effect. For example, you may not have the freedom to follow your passion. If someone gets their bachelor’s degree they may not be able to go and get their master’s because of how much it costs.
Adults may have to even move back in with their parents. If someone comes out of school with a ton of debt they cannot start their lives. They will be pushed to settle for less and not buy an apartment or house of their choosing. More than one in three millennial's
live with Mom and Dad, a phenomenon that's increased markedly in recent years.
Continuing this further, if an individual hates his/her career they may not be able to change it. By the end of college students can have up to almost $200,000 in debt. This limits their options and does not allow them to go back to school if they decide they want to get a different major.
In the end, many will also end up paying more than what they borrowed. Over the years interest adds up and will almost double or triple what someone originally got as a loan from the bank.
What about starting a family? One in five former students put off marriage due to student loan debt, and nearly one in three postpones starting a family for that reason, American Student Assistance reports. Some who go ahead and marry a person with a huge student debt load later admit regretting it.
College debt affects almost every middle class American in the United States. I personally think it is getting way out of hand. Why pay so much money just for school? There really should be changes made to the education system and cheaper ways of getting a good degree, ultimately leading to less debt and overall happiness.