Essay on “Higher Education Without Higher Interest Rates”

The current state of the economy has spurred a debate as to what type of education is worth the time and study that students invest. Some contend that students should attain degrees in more quantitative subjects, such as math and science. Others state that vocational degrees are best in this economy. Personal views aside, a central tenet is clear—a college education, often complemented by postgraduate education, is the reliable path to success for most Americans. That being said, there are still several real-life obstacles that impede access to such an education. There are several, specific public policy initiatives that can help alleviate these hindrances. In order for Americans to have more job opportunities with higher wages, Congress†¦show more content†¦In other words, higher education is valuable but expensive. Most would agree that higher education encourages ingenuity and critical thinking—attributes which are valuable in any profession. Though people l ike to cite Bill Gates or Mark Zuckerberg as not finishing college but finding once-in-a-lifetime success, the rule remains that those individuals are the exception, not the rule. Having a college degree makes attaining a higher paying job possible. Clearly higher education pays off, but there are some people who do not have enough money to pay for college. Only thirty percent of Americans have earned a college degree. This number does not seem staggering, but when compared with college tuition debt to credit card debt, the results are stark. In general, Americans have more college tuition debt than credit card debt (State of the Union). When considering an average college graduate and his or her consumer/credit debt, it is easy to see why the student loan burden is one that students find increasingly difficult to confront. This is worsened by the current state of the economy, where educated men and women have difficulties finding jobs because of the market. As a result, they are st raddled with student loan debt. This debt, coupled with consumer debt and dim job prospects, are a burden which can easily become overwhelming for the average 22 year old (Federal Student Aid). The fact that institutions of higher learning have added to their tuitionShow MoreRelatedThe United States Will Suffer An Economic Catastrophe887 Words   |  4 PagesUnited States needs any assistance from others. For years it has been speculated that without the help of China buying U.S debt, they will be in a huge deal of problems. That is extremely exaggerated being that the U.S. have many other investors but it is important to note that China is a very huge part of our economic success. Without the help of China we can truly look forward to higher interest rates, higher inflation and crowding out private investment. 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