The cost of college is the biggest concern for most people. For the average person, that cost can be an insurmountable barrier to college enrollment. The vast majority of students, however, can afford it.
The problem is not necessarily the cost of college, although that is a huge factor. Many students, even in very expensive schools, are saddled with student loans. Even if you don’t have a lot of money, you may not be able to afford a college education. I know this because my younger brother is one such student.
College is a massive investment, but it is also a very cheap investment. For example, the average cost of tuition at a private university is currently $6,000. In comparison, the average cost of a bachelor’s degree at a public university is currently $27,000. The average cost of a master’s degree at a public university is currently $50,000.
Yes, college is a massive investment. But that is only half the problem. The rest is due to the fact that it is a very expensive investment. As you can see from the chart below, the cost of student loans is huge. In the last decade, the average cost of student loans has skyrocketed from 3,000 to more than 6,000. This can easily be explained by the fact that in the US, student loans are not the government’s responsibility.
Student loans are a huge investment for the average person. The reason for that is that there are a lot of financial institutions that make student loans. The only way to avoid taking out student loans is to get a degree that costs too much. And that’s where an undergraduate degree comes into play. The government has just recently started to make undergraduate student loans more expensive.
Many schools have recently instituted a so-called ‘student loan waiver’. This rule allows students to request that their college costs be waived for up to two years. But there are other options as well. For example, you might be able to get a loan in the form of a tax credit, which basically means that your taxes will be lowered for a certain amount of time, and the government gets a tax credit for it. There are a number of other options besides undergraduate student loans.
There are some student loans that are so expensive that they can’t be used out-of-state and aren’t even taken out of state. Here in the midwest, we have a few students that are only able to borrow their school’s tuition and fees out-of-state. These students, who are called “bogus” students, are a little bit hard to track down because they don’t really exist. But what is available is a loan that is based on your income.
This might seem like a lot of money, but it isnt. In fact, its much more than it seems. Weve heard that the average annual student loan is about $9,000, but that is only an average. A recent study found that an average student student is paying $13,000 a year for their loans. In the midwest, that doesnt even cover their basic living costs.
Thats right. You don’t have to be rich to get a student loan. The average student who is not working has an interest rate of about 3.7% that is much lower than other places. But that doesnt mean they arent paying for it. It just means that they are paying more than they should.