Student loans: Up, up, and away
According to a recent report, the average college student will owe $19,300 by the time they graduate, and nearly two-thirds of students who graduated in the 2003-2004 school year used loans to pay for the cost of college. And the worst part is that college tuition increases have far outpaced federal grant increases over the past several years. Citizensvoice.com reports:
On top of college loans, too many students use credit cards indiscriminately while in college, said Terri Stocki, an adviser with Consumer Credit Counseling Service of Northeastern Pennsylvania. “They’re in debt before they even start,” said. “I’m not sure what the answer is there. I don’t know where it’s going to end. The prices are going up and up.”
Read more:College graduates carrying high student loan debt
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June 7th, 2006 at 1:12 pm
This is a very sad news. The government should not try to do something about this. Education cost in USA is very high. Not too many students can afford it and that is why they take loans. If they start their lives with debts I do not call it a very good start.