- American College Students Loans May Lead to Crisis
American College Students Loans May Lead to Crisis
- By Lanbo Jiang
- Published 02/25/2012
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In recent years, the U.S. public and private education costs soaring, even more than the growth rate of medical expenses, more than twice as much as higher consumer price inflation, forcing many students have loans, and debt may lead to young students crisis.
Two-thirds of U.S. college students to carry heavy debt after graduation: graduate in 2009 owed $ 24,000 per person. U.S. non-profit "plan student debt," said director of Ai snow, coupled with a graduate loan, and parents who borrow the money, estimated that each students complete their studies, an average of $ 80,000 in debt. She said: "all kinds of schools, all students are increasing loan demand. In addition to scholarships, students and parents must bear the cost of the loan amount led to continuously improve and exceed the family income and the growth rate of various grants. "
End of this year, Americans owed in student loans is close to 880 billion U.S. dollars, and $ 2,800 per second, the rate of increase to rise. Many students leave the school after the discovery of how serious their problem loans, especially in the current economic downturn, graduation means unemployment, well-paid work is very hard to find, repayment very difficult.
Defaulted loans are five times more than the mortgage but also a serious increase in
U.S. Department of Education statistics that defaulted student loans over the past five years, the doubling in a year nearly 25 million deadbeat, the delinquency ratio of 7%. In contrast, the ratio of credit card debt in arrears is 8.8%, 9.1% for housing loans. Because most student loans provided by the government, any lender of deadbeat taxpayers had to pay for the final.
Activists said the student loan crisis, mortgage crisis may be far more serious, because the majority of student loans and other debt is different from almost no consumer protection laws and regulations, can not be re-run loans and even bankruptcy can not ignore them. This has resulted in people who could not pay student loans could lose everything, even the death of all the parties could not escape.
Grand New Jersey couple's only son last year to participate in a car accident shortly before the Securities and Exchange Examination killed, the results they claim the student loan scheme to
Leading to much higher university tuition fees protest
To a recent College Board report shows that rising tuition fees in recent years, American University. The Council announced the "University of cost trends," the report noted that last fall, the average four-year public university tuition rose 6.5%, the state rose to 7,020 students tuition dollars, out of state students compared to 18,548 dollars; private universities, the average tuition fees rose by 4.4% to 26,273 dollars.
It should be noted that the children of ordinary people's public universities rose more than private universities, students and parents were hurt. Anxious parents and students to become the most common emotions. The source of anxiety for the financing of the financial crisis is the enormous pressure on tuition. University of dissatisfaction with the American public has been accumulated over the years. 2008 financial crisis has led many people lost the ability to pay college tuition, or will.
For two years, public school tuition and fees rose more than private schools. In which different states increase, Florida, New York and Washington public college tuition rose more than 15%. University of Maryland, the program will use the funding economic recovery this year's tuition. The worst case of California. Because state government is facing bankruptcy, for two consecutive years, a substantial increase in the California State University, tuition fees 220,000 students in 2009, up 32% this year and up 8%. And to consider more than 30% hike next year, has triggered a strong rally of students.
Experts have pointed out, many people worried about the situation this year, states will not improve. Because most of the state's economic recovery funds have been spent now, and very likely, the plight of the state budget will not end. Experts predict next year's tuition at public universities should also rise, because of the limited state budget, public schools, from the financial predicament in the higher difficulty out. According to U.S. media reports, this year, the United States more than 30 states throughout the students and teachers of more than 100 activities were held to protest a sharp rise in tuition and education funds and programs have been cut situation.