Student Abt: A Student Debt Crisis In The United States

Student loan debt is one of the topics that has been fiercely debated in the United States due to complaints in the nation over huge debts that stress up students after their first degrees for almost all their lives. Students are furious regarding the system that the government uses to lend money to the needy students from middle income earning and low income earning families. According to Hansen and Rhodes (110), the student loan debt has led to distress to many people and has even led to more damage in the lives of many students especially those who due to one reason or the other get to conditions that they become unable to pay their debts after their university life.

It is sad the government is targeting the youth through unfair treatment

Through this collection of loans with high interests, many students find themselves paying for the loans for a longer period and paying bigger figures than they thought when they were signing for the student loans (Hansen and Rhodes, 111). These debts have become so overwhelming because of the high interest rates imposed by the government on the money lent to the students to an extent that it is now becoming a crisis that has held down the development of many university graduates who were beneficiaries of the disguised student’s

The cost of education in colleges and universities has been increasing the last few decades and this is set to continue as the cost of living continues to be witnessed not just in the United States of America but all over the world (Hansen and Rhodes 112). With many colleges now in place, competition for the top performers and brightest student applicants is very high. As Schoen puts it in his article on the cost of college education, for the universities to be able to win this competition battle, a lot of facilities that are of modern status have to be constructed in order to attract applicants. This is because state of art facilities in colleges have become significant in persuading the students into joining those universities, the universities are therefore constantly engaged in upgrading their facilities and programs and this definitely comes with a cost. “On the cost side, schools continue to compete for students by working to attract top faculty, build and maintain the latest facilities and offer the next generation of students’ amenities that can be touted on campus tours for prospective applicants” (Schoen Cost of College degree). With the increasing payroll for the workers in colleges and universities and the increasing prices of materials for constructions, the