US higher education is broken and bankrupting students
Student debt in the United States has reached record levels and climbs higher each day.
Over 44 million Americans are burdened with a collective $1.4 trillion in student debt, with many owing $50,000 or more years after graduating.
This debt bubble along with the rapid inflation of tuition in recent years means most people are no longer able to afford higher education or advanced degrees.
Also, research shows these extreme debt levels are hurting the US economy and dramatically depressing everything from new business startups, home purchases, and even beginning a family. Additionally, it is more difficult than ever for Americans to find employment unless they are college educated, which is making the problem even worse.
Our college system and the way we finance student loans is clearly broken. We should not be putting students into tens of thousands of dollars of debt, so it is critical we elect policymakers who will lower student costs and create programs like refinancing or debt forgiveness.
To new and better leaders,