Answer to Question #210866 in Economics of Enterprise for Jen

Question

"From Jan 2006 to Jul 2016, the Consumer Price Index for college tuition and fees increased 63 percent, compared with an increase of 21% for all items. Over that period, consumer prices for college textbooks increased 88% and housing at school (excluding board) increased 51%."

It's no secret that college is expensive and, while community college is less expensive than two years at a university, this isn't much comfort for those who have to take out loans or pay out of pocket.

1) According to multiple sources, "Americans owe over $1.4 trillion in student loan debt...that's about $620 billion more than the total U.S. credit card debt...the average class of 2016 graduate has $37,172 in student loan debt" (SLH). What potential problems does this pose? What, if anything, should be done about this and by whom? 200 words

2) What motivated you to go to college and do you think that it will be worth the investment? 200 words

3) What should Americans consider before applying to college? 200 words

Answer 1

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