The us student debt levels

These efforts are geared towards ensuring the largest percentage of the population is literate and matches the rising competent standards demanded in the job sector. However, the dream to make education cheap and accessible to each citizen is yet to be achieved in the United States. Education just like health in the United States has proven to be quite expensive in the previous decades. In addition, the thirst for tertiary education has been unquenchable due to the increasing demand particularly in the job sector. The vigorous qualifications demanded have propelled numerous Americans to look for the highest educational qualifications. Besides, most of the Americans earn monthly incomes which meet the educational costs. The loans given to such students accrue huge interest rates within the stipulated time, contributing to the overwhelming debt.

Consequently, since the employers in their job market are looking for competent and well-qualified employees, the only option is going searching for the requirements. On the other hand, the population which is already absorbed in the job market of the U. S. 5 trillion attributed to the student loans. The job requirements in various sectors have advanced and those aspiring to earn such jobs must remain competent to avoid being thwarted out based on qualifications. The Colleges Board ascertained that the cost of education is indeed doubling in the past decades and it is feared that the trend will continue. Therefore, the probability that more loans will be borrowed to quench the educational thirst remains quite high. The U. According to Dynarski, economists have warned that failure to create effective policies pertaining to the high educational costs will see the U.

S. government lose chunks of money to student loans (p. Copious debates supported by the Democrats have tackled the rising cost of education, demanding that it should be made free. Such a move will salvage the Americans from the burden of the student loans and enable a huge population to access it. (b) The U. S. government should subsidize some services which make education expensive. Such efforts will reduce the number of students borrowing the loans (Akers et al 90). (c) The American government should come up with effective strategies, which will enable them to recover the huge loans. Most of the educated American citizens have not been in a position to offset their loans. There have been disagreements on whether education should be made free or not.