Graduates Face Financial Crisis

Graduates+Face+Financial+Crisis

Zam Cing, Guest Writer

         Because more of today’s jobs are knowledge-based or require advanced technical skills, colleges should be free. Today, the cost of attending many public colleges is so high that a lot of students can’t afford to go. As a result, far fewer students from lower-income families attend college than those from upper-income families (Yglasias). This is in spite of the fact that the federal government continues to supply financial aid to eligible students, including Pell Grants (which don’t have to be repaid). Not only that, “student loan debt is now the second highest consumer debt category” (Friedman). If students graduate with hundreds of dollars in debt, they can’t really pursue their dreams or careers because they can’t make enough money to pay their monthly payments. And of course, the “vast majority of good paying jobs require a degree that requires taking out tens or hundreds of thousands of dollars of debts to obtain” (College). But really, who are they kidding? As a student who would like to attend a four-year college in the future, the amount of debt is shaking my decision. When I think about the money embedded with my parents’ hard work and tears, I’m reluctant to go. And I’m positive that a lot of other people feel the same way. No doubt about it. Sure, a better-educated workforce would help fill many of the skills gaps that prevent America’s economy from growing faster, but would that solve the financial crisis faced by students? If students don’t choose education because of debt, they wouldn’t get a good paying job disabling them to start family and buy homes. Since more people would be able to attain desired credentials and since more people would be able to take the good-paying jobs that often go unfilled, colleges should be free.