Legal Ethical and Social values of Student loans

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Introduction
The current student loan issue is a complex crisis with multiple culprits as well as victims. For one, academic institutions in and of itself cannot deny their responsibility for instigating the crisis. For example, when was the last time, at least in recent years, that anyone heard of a university actually lowering their tuition fees? In reality, year after year the trend has been for universities to increase rates. In fact, according to Larry Abramson of NPR, “tuition and other costs have been going up faster than inflation, and family incomes can’t keep up" (2012). Despite the outrage over this problem, there is also little indication that these costs will drop anytime in the near future. Universities justify raising tuition rates for the purpose of advancing their academic standards, expanding library collections, or making more computer labs. However, students struggle to justify their university spending money frivolously on non-academic projects such as extravagant recreation centers or beautifying student unions while subsequently raising fees on students to pay for the costs incurred.
Furthermore, academic institutions are not being socially responsible as they set up freshman undergraduates for financial failure by enabling credit card companies to peruse borrowers on campus grounds. Credit card companies entice students to enroll in their credit program with the use of free pizza or t-shirts for the exchange of putting their personal credit on the line. Although it is up to the student to read the fine print of the terms and conditions, many students do not understand the repercussions of credit card debt. On a related note, banks are part of the problem as well. As a result of stagnant incomes ...

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...ans: It Is Not The Interest Rates...It Is The Sticker Price. Retrieved from Forbes.com: http://www.forbes.com/sites/peterjreilly/2012/04/26/news-flash-to-obama-on-student-loans-it-is-not-the-interest-rates-it-is-the-sticker-price/
Reuters. (2012, June 28). Chicago Tribune: Business. No more grace period on student-loan interest. Retrieved August 20, 2012. http://articles.chicagotribune.com/2012-06-28/business/chi-no-more-grace-period-on-student-loans-20120628_1_federal-loans-student-debt-burden-saddle-students
Tkacik, Maureen (2012) “Column: The Student Loan Crisis That Can’t be Gotten Rid Of”
Reuters. Retrieved August 15, 2012. www.reuters.com/article/2012/08/15/us-student-loan-crisis-idUSBRE87E13L20120815
U.S. Department of Education (2010). National Center for Education Statistics. Retrieved August 30, 2012. http://nces.ed.gov/fastfacts/display.asp?id=76.

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