Student Debt: Denying the American Dream

Over the past 20 years, federal investment in higher education has decreased significantly. The maximum Pell Grant award used to cover over 60% of the average tuition and fees. Today, the average award covers just 33% of those cost. Student Loans, both federal and private, represent a much greater percentage of a student’s Financial Aid package. In the past year alone, we have seen the largest cuts in the history of the student loan program, totaling $12.7 billion and the average Pell Grant award has decreased approximately $120.

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This entry was posted on Tuesday, September 15th, 2009 at 5:10 am and is filed under Student Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

25 Responses to “Student Debt: Denying the American Dream”

sandroeleven Says:
September 15th, 2009 at 5:10 am

Very true..after …
Very true..after nursing school (2nd time in college) i decided i would pay 1000.00 a month till the debt was gone.You have to come up with a plan…we are not all fortunate enough to just leave the debt behind

PoorStudentNoMore Says:
September 15th, 2009 at 5:10 am

I can totally …
I can totally relate to this. If I had stayed at NYU, I would have been $150,000 in debt. I transferred, so i only have $45,000 in student loans. I’m desperately trying to create a financial plan so that I’m stable by the time I graduate (Spring 2010). I’m scared to death that I won’t be stable by that time and will have to take a job desperately that I don’t like.

74u73hjd Says:
September 15th, 2009 at 5:10 am

I think it’s best …
I think it’s best if you buy a new brain remember to buy one used because you’re not using yours. For your information I’m not against education I’m against this idiotic notion that the only way to get education is through college that’s not education it’s indoctrination.

vrus91 Says:
September 15th, 2009 at 5:10 am

funny, why did you …
funny, why did you even bother putting a period at the end of that sentence?
“so much for your education brainless.”
weight too gough dambess.
think you can fix that?
fuckin quear.

74u73hjd Says:
September 15th, 2009 at 5:10 am

bonehead you forgot …
bonehead you forgot the apostrophe so much for your education brainless.

vrus91 Says:
September 15th, 2009 at 5:10 am

wasn’t even talking …
wasn’t even talking about about the typo dumbass, i was referring to how you call people getting an education ignorant. good god youre 12

74u73hjd Says:
September 15th, 2009 at 5:10 am

what’s your point …
what’s your point brainless virus. Oh and it’s called a typo you numbskull or mabye you’re to stupid to understand that.

vrus91 Says:
September 15th, 2009 at 5:10 am

or in your case, …
or in your case, between their, there, and thier. dumbass

vrus91 Says:
September 15th, 2009 at 5:10 am

the point is to do …
the point is to do what you want, not what you have to do, way to say something actually mentioned in the vid.

vrus91 Says:
September 15th, 2009 at 5:10 am

have you ever heard …
have you ever heard the term oxymoron?

vrus91 Says:
September 15th, 2009 at 5:10 am

way to restate the …
way to restate the point of this video, dumbass.

Moveontonumber2 Says:
September 15th, 2009 at 5:10 am

This furthers the …
This furthers the scam, allowing them to make MORE money by prolonging your payoff. My original debt
$30,000. Paid to date $14,000. How much do I owe?
$50,000! Good luck! Right now I’m paying $700.00
per month. Final cost of my loans at time of payoff $90,000. WELCOME TO THE DEBT TRAP!

evercas Says:
September 15th, 2009 at 5:10 am

Americans are being …
Americans are being raped by the educational system. (higher education, especially private universities) Colleges increase tuition every year, publishers get new edition of their books almost every one or two semester. Sallie Mae and other lenders rip off students by hiking late fees, deferment and forbearance much like a credit card. Some colleges receive kickback payments for referring students to certain lenders. Students loans can not be discharged by bankruptcy. Debtor’s prison for life.

jaysmic24 Says:
September 15th, 2009 at 5:10 am

its really doesn’t …
its really doesn’t pay to go to college and get an “iffy” degree where you can’t land a good paying job directly after graduation.. i was a journalism major and quickly switched /graduated in healthcare ..got a job immediately post grad.. and i teach my daughter the same thing..i refuse to pay outrageous amnts of money for some “fluffy” liberal arts degrees.. people need to be realistic! recession-proof jobs…

applyforstudentloan Says:
September 15th, 2009 at 5:10 am

Loans are a complex …
Loans are a complex topic. Many people are just not familiar with all the terms and technical aspects involved in the loan process. It can be very confusing to try to figure out what loan is the best loan. When it comes to student loans it can be almost a hassle to try to figure out exactly what terms, conditions and costs are for each loan you may be offered

HoRuSHoRiZoN Says:
September 15th, 2009 at 5:10 am

If people were …
If people were actually learning anything than colleges wouldn’t have very much business would they ??? Why aren’t all the “college graduates” teaching others ?? Cause only know what they’re told.

PurrGrrl Says:
September 15th, 2009 at 5:10 am

Really sad that US …
Really sad that US society devalues education so much. This is why our country’s having problems–too many incompetent (but rich enough to get an education) people in positions of power. We can’t get highly intelligent, capable ppl in powerful positions ’cause we’re preventing the best & the brightest from getting an education. Only the wealthiest can go to coll.&aspire to positions of power. Working while in coll takes away from study time& prevents students from getting most from their educ.

straightedgetubby Says:
September 15th, 2009 at 5:10 am

College isn’t a …
College isn’t a scam especially when you wanna be way more educated, to know the difference between their and there.

inkey2 Says:
September 15th, 2009 at 5:10 am

to 74u73hjd: I …
to 74u73hjd: I agree with you ….to an extent. College can be a scam. You don’t always need advanced degrees make a decent living. My wife graduated “suma” from North Eastern University with a 4 year degree. She could not get a job. Then she went to a “one year secretarial school to become a “legal Secretary”" and now makes quite a decent living….AND….”no debt”

74u73hjd Says:
September 15th, 2009 at 5:10 am

College is a scam …
College is a scam when are ignorant people going to open up thier minds?

demossmd Says:
September 15th, 2009 at 5:10 am

If you have …
If you have facebook, there is a group with 200+ thousand members called: “Cancel Student Loan Debt to Stimulate the Economy”

There is also a petition which you can find there.

Darusdei Says:
September 15th, 2009 at 5:10 am

i live in Finland …
i live in Finland and we have free education and u can study as high as you want ;)

in my opinion education is the corner stone for building a great country
and thus should be free

HarveyRex23 Says:
September 15th, 2009 at 5:10 am

Perpetual debt in …
Perpetual debt in America is what makes our economy function. How insidious it may be. Perpetual debt is like quicksand. The harder you fight it, the more you sink. I read that if everyone in the country, from the government to private corporations to private citizens paid off all their debts. There wouldn’t be $1 left in circulation today. US money isn’t backed up by anything of value. It’s only backed up by debt. Private banks create money out of loans (debt).

eparsels Says:
September 15th, 2009 at 5:10 am

Yeah, Anybody who …
Yeah, Anybody who thinks they will pay off average student loan debt without working 60-70 hours per week for a few years is insane. I’m in public accounting, and my sister is in big law. Both work these hours. Too many people feel entitled. Welcome to the real world, and start working hard. Two, three jobs…and live frugally. Move back in with the parents too. You can’t have everything people. Stop complaining and work.

m1kenas Says:
September 15th, 2009 at 5:10 am

This is insane!!!! …
This is insane!!!! it’s not logical that the govt.(taxpayers money) is supposed to pay for anyone. if you become a proffesional, you must pay back whatever you own.

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