College loan debt now totals $1.75 TRILLION dollars for a college education where only 46% of those who graduate work in their field of study.
And if these young 18 to 22 year olds keep taking out student loans at the current rate, the student loan blight in the United States will be $6.4 TRILLION in 10 years, in 2032.
We have got to stop this enslaving of the next generation of young adults into the trap of debt, and the lie that getting a costly college degree with no plan before they enter college or what they will do with their degree once they happen to finish college, will result in a very dangerous and enslaving lifestyle for most of their adult lives.
College debt is a blight on our nation, and a curse that keeps on giving to the next generation of college kids that enter colleges and 4 year universities every year, with no plan on how they are going to repay that debt.
Prov.22:7 “The borrower is slave to the lender.”
“When you get in debt you become a slave.”
—Andrew Jackson, the 7th president of the USA
Is college worth it?
This is a question that needs to be asked. I would argue that teenagers and young adults do not fully understand the weight and the seriousness of taking on tens of thousands of dollars in debt at such a young age, and the burden and work it’s going to take to pay it back.
We have got to stop assuming high school graduates will go to college without a strong sense of direction and a defined purpose before they get there.
To just wander into college without a plan, which costs about $25,000 per year with tuition, is a very costly way to grow up.
Statistics show that:
So 56% of those entering college will not finish in 4 years.
AND, Only 44% percent of those who get bachelor's degrees complete their degree in 4 years or less.
ANd, only 60% of men and women who start college finish to get that degree, and of the 60% of those who finish, 40% of them say their degree wasn’t worth it because of the debt, or because they are not working in the field that their degree was in, or they didn’t learn enough real world skills to use once they got out of college.
https://www.forbes.com/advisor/student-loans/average-student-loan-statistics/
https://www.finder.com/college-degree-value
https://nypost.com/2022/08/02/many-graduates-would-like-a-college-do-over-and-would-change-careers/
https://www.investors.com/politics/editorials/obama-created-student-loan-crisis-with-1-trillion-in-loans/
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