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Student Loan Debt

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The Financial Cost of a College Education The cost of a college education has become a determining factor in whether or not people choose to continue their education after high school. The cost of college is so expensive that very few people are able to pay for their education “as they go”; students are being overwhelmed with student-loan debt. The prospect of student-loan debt shouldn't be driving people away from a college education. The cost of a college education in the United States is unaffordable. For this essay we will be using Excelsior College as an example of [realistically] unaffordable tuition. The credit-hour cost at Excelsior, for non-military students is $490.00. At that cost a Bachelors of Science from Excelsior college would cost you $16,695 per year and $66,385 total; that is unaffordable without student loans. It is a reasonable debate on whether or not to choose college after high school with these type of tuition expenses. …show more content…

The interest rate for a federal student loan for an undergraduate degree (like a Bachelors of Science) is 4.29%. It would cost $81,756.50 after 10 years of $681.30 monthly payments. Paying for college solely with federal students loans would be unadvisable but this is just an example of how expensive it can be to get a college education in the United States. The cost of an education at an online college is an example of how it has become unaffordable for a student to get a four-year college

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