13 Eyebrow-Arching Numbers About Higher Education
Apologies to our international readers, but this following article is going to be concerning higher education specifically in the United States. Because we have a giant problem, and that problem is student loans. The national student loan debt is higher than the GDP of Canada. Go back and read that again. We’re making more student loans than Canada is making money.
“Go to college to make more money,” they told us. “It’ll pay off.” Yet, even those among us making bank may be struggling to pay off their tens of thousands of dollars in loans. Who decided it was a good idea to give that many loans to teenagers, let alone teenagers being led astray by boomers who lived in a completely different world of higher education costs?
The answer to why higher education is so expensive isn’t so cut and dry. There are lots of theories: increasing administrative costs, lower state funding, student amenities, increased marketing to more profitable students, or supply and demand. Unfortunately, we can’t afford to go back to school and figure it out ourselves, but here are some numbers acquired by people with more applicable degrees.