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:
“We are told that men protect us; that they are generous, even chivalric in their protection. Gentlemen, if your protectors were women, and they took all your property and your children, and paid you half as much for your work, though as well or better done than your own, would you think much of the chivalry which permitted you to sit in street-cars and picked up your pocket- handkerchief?”
—Mary B. Clay, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 3, by Susan B. Anthony and Ida Husted Harper (1902)
“Universal history is the history of a few metaphors.”
—Jorge Luis Borges (1899–1986)
“Systematic philosophical and practical anti-intellectualism such as we are witnessing appears to be something truly novel in the history of human culture.”
—Johan Huizinga (1872–1945)