Student Loans
“In fall 2013, a record 21.8 million students are expected to attend American colleges and universities, constituting an increase of about 6.5 million since fall 2000”. As the amount of students entering college continues to rise, the cost of attendance has increased even more dramatically. An annual report from the Federal Reserve Bank of New York mentions that student loans have increased by $53 billion in the past year alone, for a total of $1.08 trillion in debt as of December 2013. Once the lowest category, student loan debt has now surpassed auto and credit card loan to make up the largest part of non-housing household debt. As both enrollment and costs for college continue to rise to unprecedented levels, more people find themselves asking the question: Is a college degree still worth it?