The US Student Loan Debt and its Impact
The US student loan debt, which is higher than both auto loans and credit cards, is presently second only to mortgage debt in the category of consumer debt, the study claims. Student loan balances have recently increased quickly, which is having a detrimental effect on the industry. College graduates may appear to have superior financial standing than high school graduates with diplomas. However, it can be challenging for those struggling with sizable student loans to simply survive, let alone advance in their careers. This article aims to capture the attention of some audiences whose interest may be relevant to the issue of student-loan debt, such as policymakers in the education sector, lenders, prospective college students, and parents. It also targets the general audience and the world in general to enlighten other countries that may plan to follow the same path like the US on the consequences of providing affordable education through student loans.
The Impact on Policymakers and Proposed Solutions
The discussion aims to enlighten the present policymakers on some matters that they may been omitted in their discussions. Some of these issues may be contributing to the mess in the student loan, thereby leading to suggested solutions that may also have been ignored. The information in this article is also aimed to capture the attention of employers who may have a disconnect with young employees regarding assisting them to repay their loans.
Challenges Faced by Graduates and the Implications
While more emphasis is continuously placed on universal college education, increasing fees for an already costly education, and widespread lack of jobs for graduates, student-loan debt remains a challenge that will topple economics prospects and future success.
Concluding Thoughts
The article "Bad Education" sheds more light on the current situation of the student-loan debt in the US. The message was well presented to capture the intended audience, and the readers were left to reflect on it and perhaps join in the discussion on the ongoing debate on how to solve the problem of skyrocketing student-loan debt for a better education in the future.
Reference
Harris, M. (2011). Bad Education. Retrieved 12 October 2017, from https://nplusonemag.com/online-only/online-only/bad-education
