Student debt has been a problem for high school students, current college students, and college graduates. Before attending college, high school students have to factor in the costs of tuition and housing into their available budget. However, students who are in need of financial assistance borrow money from the government, banks and private organizations. Current college students have to focus on studying and invest their time and money for a degree useful in the future, and those who have already graduated are having a rough time of paying off student loans they've accepted during school. The amount they've borrowed accumulated each year of college and they don't realize until they graduate.
Graduates leave school hunting for job opportunities in order to pay off student debt as soon as possible before interest accumulates. Some are hired right after they graduate, but many aren't as lucky. The ones with growing interest and low-paying jobs end up paying monthly for many years due to the effect of globalization on jobs. Because of globalization, businesses take job opportunities from the U.S. overseas to maximize personal profits. While other qualified workers are being employed elsewhere, college graduates in America struggle to find employment amidst the competition. Some student debt payments last until these graduates are middle-aged or older; some continue to pay off debt even while they are taking care of their families. Even though the government tries their best to provide students with loans for schools, the debt accumulated end up being devastating to most rather than helpful.
We, the undersigned, petition the Congress for increased federal funding in higher education causing tuition fees to decrease so students won't need to borrow as much money.