STUNDENT LOANS AFFECT
Students loans Affect
ECON 222
Aubrey Kallenberger
STUNDENT LOANS AFFECT
Before there were student loans, many students could not continue their education.
Student loans were a resource that helped the public. The interest rate was reasonable, allowing
students to borrow the money and pay it back in a timely fashion. Now-a-days it is impossible to
attend college without someone helping pay the bill. College prices have increased dramatically
in the past decade. Americans owe more in student loan debt then credit card debt. According to
The New York Times Between the 2000-2001 academic year and the 2010-2011 academic year,
the cost of a degree at public and private 2- and 4-year institutions rose 70%, from an average of
$10,820 to $18,497, according to data provided by the federal government’s Institute of
Education Sciences. Families’ incomes aren’t rising at the same rate, so students are forced to
