When I prepared to leave home for college, my parents sent me off with plenty of advice. One of the most memorable was this: Do not open a credit card. They warned me of how easily I could fall into debt through credit card transactions. How ironic that was considering the debt I was about to accumulate through tuition loans! Although college for me was a good “investment,” it came with a hefty price tag.
According to new research from the Pew Research Center four out of 10 American households headed by someone younger than 40 years old carry a form of student loan debt. And the Federal Reserve Bank of New York reported that student loan debt reached a new high of $1.1 trillion during the first quarter of this year with the average graduate facing an average total debt of $30,000.
Today more than ever, there is an increased emphasis on ensuring all students are college and career ready. College is seen as a must for a successful future. Yet, for many students, that "must" comes with the reality of future debt.
Should college be a basic right? This Education Week article argues, yes.