College Cost Outstrips Its Value
Increasingly hard to get a decent return on the investment
Generations of Americans have been told that getting a bachelor's degree is the key to a relatively prosperous life. But recently the news has been filled with stories of the financial hardships college graduates today are facing.
Borrowers defaulted on $3.5 billion in student loans during the first three months of 2013 alone, and the Federal Reserve has estimated that the current nationwide amount of student debt is over $1 trillion.
Meanwhile, a college education has become one of the most expensive products in America. The cost of college has increased 1,120 percent in the last 30 years, far outpacing inflation. In light of all this, we have asked the question, "Is College Worth It?" The answer is, "It depends."
One study conducted last year found that approximately 50 percent of the class of 2011 was either unemployed or underemployed. As a result, many recent graduates are putting off getting married, starting families and buying homes.
(H/T $park¥)