Essay on National Defense Student Loan Program

1079 Words Dec 1st, 2015 null Page
“75 hours a week is my average during the summers. I can only work about 40 hours a week while in school. College debt has always lingered above my head, and working is the only way to prevent myself from going under. I’m thankful I was fortunate enough to have lots of previous work experience at 18. Yet even with working, I feel like it’s not enough.”
The affordability of obtaining a post-secondary education has evolved throughout history. Colleges a decade ago were only meant to serve the elite. This changed after WWII, when the GI Bill assisted veterans in achieving a post-secondary education. The American Government began to create policies such as the Higher Education Act and programs (i.e. National Defense Student Loan Program) to assist individuals in attending college (Sanchez). Unfortunately, since the economical downfall in the 70’s, the amount of tuition along with college debt has exponentially increased. According to the Consumer Financial Protection Bureau, college debt now ranks second in the highest debt owed besides a home mortgage. With such a huge escalation in college debt, we are facing a generation where over 50% of graduates will owe debt (McDaniel).
While having debt after graduation is reasonable, it’s unimaginably difficult to assume that anyone considered middle class, could repay the average 25,000 dollars of debt ("Tuition and Fees and Room and Board over Time”). This crisis hasn’t been expressed as a pivotal concern for citizens. As a college…

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