Per Bloomberg today:
This phenomenon is crazy to fathom. Students go to school to get the knowledge and skills to start a career, earn a paying job and be independent. We definitely do not go to school to be saddled with debt. But apparently, it’s exactly what is happening now. Going to school or earning a degree doesn’t guarantee a good paying job nowadays. What it does guarantee in many cases is student debt. The debt is attributed to rising tuition fees, ridiculously expensive books that are used in only a few weeks and a plethora of administrative fees. Seriously, it’s quite shocking when it costs quite a significant amount to attend your own graduation and request an official diploma. I paid $75 to request my official two diplomas and $100 for the graduation gown. Students; however, are not faultless by no means. I have seen first hand some students dropped out of class after committing to paying a course for a variety of reasons. Some dropped out of school because they didn’t like the school any more.
When I was in Finland, every year I only had to pay 92 euros for the whole school year. Nothing else. The most expensive book I ever bought in Finland was 57 euros for a Spanish class. In the US, books can run up to $300 or $400 each and the book is only used for a few weeks. A semester with 4-5 courses can amount up to $1,000 in books. Something needs to change.
Our 20s and 30s are arguably the most productive period of our life in which we have fewer commitments or burdens than when we have a family of our own. It should not be spent on paying the debt that we get on our way to get a degree and to earn a shot at a career. Our choices in life should not be restricted by student debt that shouldn’t be there in the first place. If I have to pay more taxes to have free healthcare and education like what they have in Finland, in a heartbeat. Because each of us should not start our adult life and career from the place of anxiety and fear caused by student debt.