I ran across an article this morning that grabbed my eye. Student loan debts,for 2011, will reach $1 Trillion! My eyes almost popped out of my head. As a recent college graduate with approximately $16,000 worth of students loans to pay back this was mind boggling but NOT a major shock. Schools are starting to become more expensive and less "free" funding is available.
For example, at Stony Brook University, where I attended, every year since my sophomore year (Fall 2008), the tuition has gone up every semester by $600. Okay that's fine, but my Financial Aid isn't increasing along with the tuition hikes. There goes another $1000 to $2000 loan that I have to take out to cover the new increased balance. Tap and Pell Grants are also reducing the money that they give to each student.
Side Note: Was anyone else confused when they saw a balance on their bills even though after completing their FAFSA it said "Family Contribution : 0"?
As tuition rises and Financial Aid doesn't even put a dent into our bill, there are only a few choices that we are left with. Take out more loans or drop out. We are in the age where even a Bachelors degree no longer holds any weight. So what are we going to do? This kind of makes you want to reconsider even finishing if you are just going to jobless and in over 40 grand worth of student loans after you graduate.
The lack of money is the root of all evil.
Mark Twain
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