What Are The Effects Of Government Loans On Young Americans

The amount of young Americans negatively impacted by the cost of college is increasing at an alarming rate. The relationship between college tuition and government loans is corrupted and needs to be repaired. Colleges are driving up their prices, being that student payments are guaranteed and backed by the government. This is hurting the futures of young adults and preventing many from getting the education they need. “It is only a matter of time before the United States begins to question how a young person can be morally denied a higher education” (Eskow 1). Many young adults wanting to pursue their passions are forced to take out thousands of dollars in loans just to get an education. Young americans need to seek solutions to this rising issue. There are many programs and protests developing that will benefit the fight for education. The Department of Education needs to address student loan issues, due to skyrocketing tuition costs limiting students’ potential.

The loans students have access to are generally government-backed loans, which allows colleges to raise their tuition without concern of not receiving their funds. This creates a ripple effect of college costs rising and more students taking out loans to afford these monstrous costs. Many students find themselves unable to pay back their loans in the long run. Gary Jason, an academic philosopher and senior editor says, “There were 218 schools that actually managed to produce students who had three-year default rates over 30%, and 37 schools thats had rates over 40%” ( Jason 1). This continues to create an economic bubble where the cost of a college education may outweigh the potential returns and benefits. Again, Gary Jason