OPINION -- Weighing the options when enough is enough
Jacob McWhorter
Issue date: 3/10/09 Section: Opinion
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College isn't cheap. According to the College Board, students are paying on average $6,585 a semester for a degree from one of the many public four-year institutions across the nation. The College Board average claims to include room and board and tuition among other costs and taking into account the financial aid that many students enjoy. Dishing out around $6,000 twice a year is no simple task for many students and their families. It's no wonder that many parents dread having to bear this much of this cost even in a booming economy. When some families are having enough trouble putting food on the table, how will they come to bear this debt? Many students who are determined to acquire a college degree often resort to student loans, which can put them in debt for years to come.
Recently, CNN reporter Alino Cho led an investigation into this very issue, profiling a young college graduate by the name of Michelle Destruge, a 24 year old determined young woman, with a completed four-year degree from Florida State University. Michelle is forced to live with her parents due to her massive debt. Michelle's four student loans (three private and one federal) have buried her with whooping $119,000 of debt, putting her at an estimated time of 30 years to pay off the dues fully if only minimum monthly payments are completed. Fortunately, Michelle was able to get a job as an associative assistant at a local school, but with her immense debt her plans of owning a home and starting a family had to be put off. However, she says she doesn't regret a single decision she made, claiming that she was "richer for the experience."
Her situation is not one that many college students would look kindly upon. Many students view college as an escape from such burdens. Yet in today's crumbling corporate world, where highly trained specialists with years of experience are being laid off, what hope does a lowly inexperienced college graduate have? The truth is that currently many job markets are frozen and job opportunities are scarcer than ever. This being the case, although college is an expensive route, the competition for college degrees is going to increase. As many experts say, the college degree is quickly becoming the new high school diploma in terms of securing a place in middle class American society.
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