For many people, college is just another transition in life to pursue the career of their dreams; for others, it is a far-fetched concept. Determining which person someone is in this situation is based almost entirely off of socioeconomic standings. Consequently, only about 70% of total Americans older than twenty-five earned a Bachelor's degree (Fielder). This is primarily due to the fact that the price for college tuition does not align with the amount of money financial providers are capable of making annually. The thought of paying for college out-of-pocket burdens families in the lower-to-middle class range both mentally and financially. However, even after deciding to go to college with the assistance of scholarships and financial aid, the overwhelming amount of student loan debt that one accumulates throughout his or her four years of college follows them throughout adulthood. The fact that student loan debt accumulates the biggest source of debt for most people is prevalent (Federal Reserve). Because of this massive socioeconomic obstacle in between high school graduates and college education, many young people cease their education after high …show more content…
With the fact that only 40% of Americans over twenty-five-years old have a Bachelor's degree, the overall unemployment rate for the country rapidly rises (Fielder). The most prominent reason people do not attend college is because of the financial burden that is guaranteed upon them through student debt. Conversely, The Free Application for Federal Student Aid (FAFSA) is a beneficial scholarship organization that supports many students hoping to attend college, but it does not cover nearly enough tuition to have the young adult and their family be financially comfortable during those four years of higher