The American Dream seems fairly simple enough, hard work will help you achieve everything you could want such as a nice home and financial stability. However, recently many are finding that the concept of the American Dream is definitely easier said than done. Now more than ever jobs are getting more and more competitive and it is almost mandatory to have some sort of college degree to even qualify for a position. However, even with most jobs requiring a college degree many are still forgoing returning to school. One of the major reasons people choose not to attend higher education is because of its high costs and the eventual amount of debt from student loans makes college seem like a poor investment. In 2013, the average American student loan debt was about $31,000.
While college can be costly, college graduates still earn significantly more than those that do not attend school. In 2011, young adults with a bachelor’s degree earned 50% more than those with just a high school diploma. College can eventually turn into a good investment and can lead to being able to buy your dream home and have a stable life but it is a good idea to do your research on student loans and student debt to learn how to budget your college expenses wisely. Check out this infographic about the history of student loan debt and learn more about how debt can accumulate through the years. Keep in mind that student loans may sometimes be necessary there are also alternative forms of financial aid for college such as grants or scholarships.
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