It's just costing more and more to get a college education. Increases in tuition and fees have been higher than inflation ... and we're not seeing financial aid from the government at all.
The study only looked at teaching and social working fields, but you can absolutely extrapolate to other fields that aren't in high paying but are important to communities ... We're concerned that overall college graduates with loan debt are getting priced out of those fields.
Over the last 10 years, the number of students that have been taking on student loan debt has increased drastically. And, the amount of money students are borrowing is much higher.
The situation is not getting better, it's getting worse.
The raised interest rate goes into effect on July 1. People graduating prior to that date should absolutely apply for consolidation under the current lower interest rate. That could save recent graduates lots of money in the long run.
