Our friends over at Frugal Dad (a website that has a very nice catchy tagline, if we do say so ourselves) have created a wonderful infographic that really drives home a major problem that is facing the United States right now. No, not gun control. Not health care. It’s the cost of a good college education. This is great information about a problem that most of us are vaguely aware of, but maybe we don’t really sit down and look at the facts (until it’s time to put the little ones through college, at least). Not only is the inflation of higher education completely out of line with the inflation of anything else in the universe, but many people are forced into deciding between the options of simply skipping out on college altogether or going into some serious, monstrous debt to do so. A lot of students are graduating and striking out into the world for the first time on their own two feet with what equates to a mortgage already hanging around their necks. And with so much competition in our world today, many are finding work that just isn’t what they hoped for. They are settling for jobs making lower incomes while they have to begin paying back mountains of debt. And who is making out like a bandit on the deal? Oh, you guessed it. The federal government.
This is not a problem to worry about 18 years from now. Right now, if you have a young child, you can start socking away pennies for their education one day, but if this inflation rate continues, your money is basically worthless by the time it comes around. While President Obama “refocuses on the economy” he is not saying anything about the student loan bubble and the chaos and heartbreak that could echo what we saw when the housing market went bust in a matter of months, not years. It’s time for Americans to wake up and realize what is happening, and more importantly, what they are not being told.
Once again, a special thanks to FrugalDad.com for creating and sharing this excellent infographic with us. Stop by their site and learn more about this critical topic.