Ryan, a key reason why Conservatives are exploring alternative options is that the degrees are not paying off, but are instead making colleges, loan services and loan collectors an astounding amount of money.
Tuition, and those fees that somehow continue to be tacked on, have hockeysticked over the past 4 decades, increasing over 1,000%. These profits are ironically driving the socialized education argument…
“First, let’s start with a general picture of the student loan debt landscape. The most recent reports indicate there is:
$1.44 trillion in total U.S. student loan debt
44.2 million Americans with student loan debt
Student loan delinquency rate of 11.2% (90+ days delinquent or in default)
Average monthly student loan payment (for borrower aged 20 to 30 years): $351
Median monthly student loan payment (for borrower aged 20 to 30 years): $203”
There are no economic benefits for the average student. The only benefactors are banks, colleges, etc. This is terrible.