There have been several programs in the past and in the present that try to provide students reliable access to funds and support them in getting through college. How effective have/are these programs? The benefit of a degree lasts a lifetime, but the hassles of funding for a degree or the whole borrowing process fades the importance of earning a degree.
A Chinese proverb says, Catch a fish for a man and he is fed for a day. Teach a man to fish and he is fed for life.
How can we shift the focus on to the more important aspect of educating people and then reaping the benefits through their contributions to the economy?
Each year as inflation increases so does the college tuition fees and in the recent past it has exceeded inflation too. The graph above shows that student loans have been increasing steadily, exponentially compared to auto or credit loans. After mortgage loans, student loan is the next big debt that stands out. As a result, the implications are undesirable for young adults, affecting their post-schooling economic activities such as home ownership, auto purchases etc.