Experts are concerned by the growing level of student loan debt, and its potential impact on our future economy. Especially concerning are the “private loans” students use for college, which can have variable interest rates as high as 20%. These differ from traditional “student loans” which are backed by the federal government and have controlled interest rates. In 2001, private loans in the U.S. totaled $4 billion, while in2006, they totaled $17 billion.<\/p>\n
The increase in loans is due, in part, to the significant increase in the cost of college tuition over the last decade. And for those in careers that aren’t typically lucrative, the student loan burden can feel even heavier. It is reported that over the last 10 years, consumer prices rose 29%, while college tuition and fees rose 65% to 79%.<\/p>\n
The main concern is that young adults coming out of college will be so burdened with student loans that they will have to delay purchasing homes and do without some luxuries in favor of paying off the student loans.<\/p>\n
While the concerns about student loan debt are real, and the financial burden is undeniable, this issue must be kept in perspective. College is a choice, and students may need to plan their finances more carefully to avoid a huge loan burden. More students may have to work while going to college or look for alternatives to help control the costs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Experts are concerned by the growing level of student loan debt, and its potential impact on our future economy. Especially concerning are the “private loans” students use for college, which can have variable interest rates as high as 20%. These […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-1023","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-gv","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/1023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=1023"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/1023\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=1023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=1023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=1023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}