Rising educational costs have been a hot topic of discussion since the late 1970s. As early as the 80s, market researchers started noticing a reduction in government funded aid for education. When you consider that, in the 80s, the average yearly tuition for a 4-year degree was about $3,500, and now it’s nearly tripled (approaching $10,000) it’s easy to see the importance of these subsidies. Coupled with inflation and the feeble job market, the average graduate today will be saddled with nearly $25,000 in debt.
So what does this mean for the parents of soon-to-be collegiate? Or the young folks who are paying for their own education? ConsolidatedCredit.org has helped develop a visual illustration of the change in college debt.
You’ll be able to review for yourself the drastic change and perhaps explore some options you haven’t yet considered lowering your outstanding dues. There’s no better time than the present to get your books in order. So what are you waiting for?