College Debt–An American Tragedy

More than a trillion dollars in debt hangs around the necks of our young people in this country. How sad, we proclaim and go about our business. It’s too bad, we say, and allow our colleges and universities to continue their self-serving practices of allowing students to borrow and borrow until the sum of the debt seems to be meaningless. They borrow more. These institutions continue to offer majors that offer no career paths for those who carry the yolk of the debt. They will be saddled with debt that has no end when a job after college pays a minimum wage.

These young people cannot buy a car, a house, or take the vacations they dreamed about taking when they finished college. They often cannot even afford their own place to live. We have heard much about them living with their parents. These young Americans went to our vaunted colleges and universities with great hope and expectation. This journey was a big part of their American dream. A college education was just a part of their itinerary. This piece of their life was on the main highway to reaching their dream. Instead, for many, it has become a seemingly permanent detour.

But that is not the worst. Now we are being told that young people are selling their bodies to help pay their college debts. If this is true, it is a tragedy. How can we look in mirror?

Yes, the students should take more responsibility. But for those of us who have spent a lot of time at a college or university, we know the environment is very enticing, particularly if you can borrow money so easily to stay there. Because so many have grown up in the entitlement culture, it is easy for them to feel okay with borrowing the money. They feel someone else will pay my college debt.

 

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