Yet, compared to other industrialized nations, this country does little to help students financially. Instead, we have a political system skewed toward monied special interests who lavish campaign contributions on politicians that make the situation tougher for students to obtain a diploma. The student loan industry has you at its mercy. It is nearly impossible these days to graduate with a four-year degree without also amassing at least several thousand dollars of student loan debt. But median income for families with kids in college has not kept pace, increasing just 12 percent over the same period.
Student loans can help fill the cash-gap.
But loans aren t free. But you won t start at that salary. If you graduate at 22, you won t be free of debt until you are in your late 30s. Since 1965, taxpayers have subsidized, heavily, the private student loan industry, through federal guarantees of loans and other financial perks to encourage banks to loan students money. The idea was to make higher education accessible for anybody who pursued it seriously.