According to Yahoo News the cost of college will be rising for students the cost will raise by 5 percent annually. For student graduating this year well the average student will graduate spring 2011 with 22,900 dollars in debt but some students will be even worse. With this rise the cost of college will be 8 percent higher than last year. The normal Fafsa that you are use to getting the Pell grants will be much less than what you received the last two semesters. Since 2006 Americans with a college degree the unemployment rate for them is 4.5 percent and Americans without the unemployment rate is 9.7 percent.
It is proven that people that took student loans are in Debt over their heads. Debt leads to stress and unhappiness during and after their school years. There are many people out there that pay on their student loans until they are in their late 40’s and 50’s. there is a case of a lady that went to school for one thing got a job in her major couldn’t pay her Debt because it didn’t pay more than her education cost then she went to become a lawyer which she is now and is 250,000 dollars in Debt and in unemployed with no job.
This is just crazy makes me think twice before taking more student loans. I was reading and some people believe that student loans are all a scam for banks to make money and they are not looking out for students to get a quality education. Obama said that he is making school cheaper to attend so that more Americans will attend college which to me is now what he is doing almost every school is raising the cost of the tuition and at the same time he lowered the amount of Fafsa that we will be getting in the future semesters making it harder for kids to go to college so is he really helping kids go to college or what?
I really hope that something changes soon so that kids can afford to go to school either lower the tuition or higher the amount of Fafsa we get. The main thing is that this scares me for the future between the gas prices rising and everything else getting more expensive I don’t know if anybody will be able to afford to go to school we will all have to work as hard as we can and barely be able to get by in life.