It is true enough – the federal government gives students an abundance of money to go to school. But one might ask, “Why would the federal government just give away all this money?”. You see, it is all just a big cycle, which begins with the student receiving a wealth of loans from the federal government, which will accrue interest following graduation. Hopefully, the student will have a well-paid career to enable them to pay off the loan. If they do so successfully, then BOOM - the money goes back to the society and the economy keeps going. Oh, but what if the student doesn’t manage to pay it off? Failing to repay a debt is no joke, especially when we are talking about student loans. If the student does not repay their federal student loans, they will have to deal with debt collectors, wage garnishments, loss of tax refunds, and a bad credit rating, making it almost impossible for that person to rent an apartment, buy a car, own a home, use a credit card or attain many forms of financial stability. This will inevitably result in less money being reinvested into the economy.

The basic concept in today’s world is when a citizen is well educated, more than likely they will receive better jobs and contribute more to the economy. Yes this is correct, it’s not rocket science to figure that part out. But if the federal government wants students to further their education so badly why is college so dang expensive. The federal government gives students these loans to “help out” but what happens when the student graduate? They aren’t guaranteed a job to pay off those loans. Just because the student has a degree doesn’t mean the job automatically belongs to them. According to “Here’s Your Crisis: Student Loan Debt isn’t a myth”, “The growth in Americans with degrees is far outpacing the growth in jobs that require them, meaning jobs that offer a secure path to debt repayment will become ever more competitive”. So now the student is stuck with all this debt and no job.

According to “Here’s Your Crisis: Student Loan Debt isn’t a myth” the cost of college prevents many low-income Americans from even seeking a higher education. Forty-eight percent of adults aged eight-teen to thirty-four without degrees told the Wall Street Journal that they can’t afford to go to college. The cost of college defianitely inhibits upward social mobility. With the cost of college rising so frightening soon it’s going to be almost impossible for the low and middle class to obtain a degree. Which will keep the people in the higher class at top and the people below will never rise.