History
Many factors are accountable for the drastic increase of student debt. The growing problem of student debt has become more prominent in the past decade, inspiring numerous documentaries that examine the causes and effects. The Fallen American Dream, is a documentary on America’s challenges with college affordability and its declining job market during a time of national crisis and global change. One factor is due to the new guidelines developed by the federal government. There are now new rules deciding who can borrow, as well as how much debt they can take on. Colleges and universities have been increasing the costs for students to attend their respective schools subsequently increasing the amount of debt these students take on as student loans. Reports have shown that borrowers who finished college in the early 1990s were able to maintain managing their student loans without an enormous burden. The average debt has increased 58% since over the past seven years. It has risen from $17,233 in 2005 to $27,253 in the United States. Some blame the economy for the debt increases, but in the same 7 year period credit card debt and auto debt have decreased. According to the Student Debt Crisis, within the past three decades the cost of attaining a college degree has drastically increased by more than 1,000 percent. If student debt had stayed constant with inflation since 1992, graduates would not be facing such burdens by student loans.
Read more about this topic: Student Debt
Famous quotes containing the word history:
“When the landscape buckles and jerks around, when a dust column of debris rises from the collapse of a block of buildings on bodies that could have been your own, when the staves of history fall awry and the barrel of time bursts apart, some turn to prayer, some to poetry: words in the memory, a stained book carried close to the body, the notebook scribbled by hand—a center of gravity.”
—Adrienne Rich (b. 1929)
“The steps toward the emancipation of women are first intellectual, then industrial, lastly legal and political. Great strides in the first two of these stages already have been made of millions of women who do not yet perceive that it is surely carrying them towards the last.”
—Ellen Battelle Dietrick, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 13, by Susan B. Anthony and Ida Husted Harper (1902)
“Revolutions are the periods of history when individuals count most.”
—Norman Mailer (b. 1923)