Should the American dream now be called the American college debt nightmare? Some 40 million Americans will be in debt as that is the cost of education these days. The economic facts are indisputable:
- Outstanding student college debt totals $1.2tn in the US
- The cost of a private non-profit four year college institution has risen by 267%, over the last 30 years
- The cost of a public four-year college institution has risen by 357%, in the same time frame
- The average student loan debt for graduates stands at $26,000 (Guardian 2013)