Whats the Problem With College Debt?

by Mike Acciavatti

This week I read a very interesting article which addressed the idea of college cost. It gave a perspective of not just the normal, run of the mill ideas on how to make college more affordable for your family. One such point was that the wealth gap in this country “isn’t just the broad chasm that separates the rich and poor, but the gap between the rich and everyone else.”

The article also states that the decreasing middle class is pushing more people lower in class than up. This is seen as a critical problem because a person who spends most of their “bread winning” years paying off a previous debt instead of spurring the economy with big purchases such as a house, car etc… is actually detrimental to the society as whole. The article states that making up a previous debt, though better than defaulting, is not necessarily a great thing for the economy of a country.

One potential solution is a work early program which a number of colleges have already instituted. The program creates a means of graduating high school with a fast track into college, whether that is by actual credits earned or at least a full game plan and a 4 year graduation strategy. In return for these things the students themselves must get good grades, have a strong work ethic, and be willing to work at least part time in college. Overall the problem addressed is the decades a person graduating from college spends simply paying off debt and not contributing. If we stop this we can stop the unending cycle of debilitating college debt.

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