When students in the US graduate, they have an average of $37172 in student loan dept. Across the country, that is about $1.5 trillion. Now that is a huge number.
There is no denying it, college in the United States is expensive. But in the same time, it is valuable and of the highest quality. In the past several years, the cost of higher education just keeps going up.
Tuition costs at both public and private universities have doubles since the late 1980s. And with college education becoming more and more necessary to succeed, the question is how people can afford it.
It is all about that student loan. By 2020, more than 65% of all jobs will require more than a high school degree. Forget about self-made millionaires and influencers making money thanks to social media. It is all about the high education.
Here is a breakdown why the cost is so high in the United States.