Colleges, it’s time to admit you have a problem

Growing up, I did exactly what was expected of me. I worked hard through high school and was the first in my family to graduate from college, thanks to the federal Pell Grant, an academic scholarship and work-study program, says a contributor for Despite that, I still walked away with massive student loans. I don’t regret my choice because my education is the one thing no one can take away from me. But, like too many of my friends, I am now buried in student debt. By the time I pay off my loans, I’ll be in my 50s. And like many of my peers, I’m thinking differently about major life decisions, like buying a home or car or having kids, because I have too much student debt to pay off first. My story isn’t unique. More and more, skyrocketing college costs are forcing students to take on crippling debt in order to get the education they need. Since the early 1980s, tuition and fees have increased 538 percent—that’s almost twice as fast as healthcare costs. Over two-thirds of all college students currently borrow in order to finance their education. Even so, I was shocked to learn that Americans now owe more than $1 trillion on student loans…

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