

As we speak now, many people have to incur a large amount of debt because many jobs that don't require degrees are now demanding at least bachelor degrees. Now, the high influx of people going to college has caused many more people to incur large amounts of student debt for jobs that don't remotely pay enough for people to pay off their loans in a reasonable time frame (5-10 years), this issue could result in a massive amount of people in debt and not being to pay it back at an appointed time which could lead to a financial crisis, similar to black Tuesday in 1929. 

This issue is very interesting to me because I am the current recipient of this broken system that would allow so many people to go in to such a large amount of debt in such a short period of time. I am current feeling the, albeit minor, effects the student financial debt crisis which includes: less opportunity for jobs, greater risk of future bankruptcy, slower capstone achievement (marriage, home ownership, career development, etc), and low likely hood that students will be able to progress in society and help society progress. Also, many students have had to move back in to their parent's homes because they will not be able to afford to live on their own which stunts students when they try to progress.   This as well as college costs has caused overall enrollment to decrease, my source "Is the high costs of college decreasing enrollment" talks about the fact that so many people cannot afford to go to college and those who do have a high chance of dropping out. I believe that the number of students that cannot afford to go to college will only keep rising.

The cost of college has gotten so high that some people have either dropped out of college with an incomplete degree which holds no merit or some people just did not go entirely. Some people might say that one has the option to not go to college but the truth is that those how don't have a bachelor's degree do not earn nearly enough to sustain themselves.  My source "The college wage premium" by Cleveland federal bank outlined that ever since the 1980's the wage premium for those with bachelor's degrees have jumped to high numbers, nowadays the wage premium is 80% for people with at least a bachelor's degree. Those who do not finish college will not be able to take advantage of the wage premium for financial sustainability. This federal bank is held up to government standards and holds a good amount of creditability otherwise they face serious charges.   

Finally, My source "Is College worth it? Goldman Sachs says maybe not" challenges the student debt crisis by stating the cost of college is beginning to out weight the potential earns a student could achieve. Average student leaves college with a least 40,000 dollars in debt and the fact that the degree they land might not get them a high enough paying job for some financial stability means that more students will have a higher risk of bankruptcy. This paired with the fact that there is a low chance that you will land a job proves that college is getting to expensive and the return on investment getting to low. However, do keep in mind that this source has been done by CNN and they often have a more liberal bias and may have information that is more subjective.

Overall, the college costs has caused overall enrollment to decrease and make it very difficult for many people to attend. The return on the college investment has dropped significantly and would be crippling to those whose major is not financially stable starting off. The fact that these problems could cause a financial collapse should be good enough reason to try and solve this before it is too late.

