Student Loan Debt: A Case Study

In October of 2013, 65.9 percent of high school graduates enrolled in college compared to the previous year of 66.2 percent (Bureau of Labor Statistics). However, in recent years many high school graduates are finding themselves hesitant on deciding whether or not to pursue higher education. Although this can be due to a variety of reasons, I set out to discover one in particular, the alarming cost of student loan debt. Each year the rise of student loan debt has become an increasing concern for prospective students because of the growing pace of college costs and reliance on loans to finance these costs. As a result, the rate of defaults is also increasing among students due to many loans going unpaid. Although there are various types and
sources of financial aid, some students never make it to college because they still perceive it as financially out of reach. If our world desires more skilled, educated workers, why is more not being done to help students realize that higher education is an attainable goal?

I conducted this research over a two-week period in late March 2016. The bibliography contains an empirical study, an academic journal, and a national survey that believes postsecondary education is worth it, while an evaluative report and a scholarly article argue that there are too many obstacles that prospective students face. Specifically valuable to my research was the empirical study by Daly and Bengali (2014), which presented concrete data proving that earnings outweigh the cost of getting a degree. The five following sources I have researched have helped me learn about the controversial debate over student loan debt from multiple perspectives, and they helped me to better understand the complexity of the decision to further one’s education.