The Monopoly on Education

Thursday February 25th, 2016

Recently I visited my high school Avid teacher to discuss her career in education, something that I am trying to obtain at the moment. I told her my exciting and rewarding experiences at the University of Idaho for the last five years. She was so proud to hear that I graduated with a double major in Sociology with an emphasis in Criminology and Political Science. I told her I had joined a fraternity and been a member of the multicultural club. Even that I had been on the deans list while at the school. I did not tell her that I had looked for a job for five months with no luck. I did not tell her that I felt lost after college. Most importantly I did not tell her that everyday I feared my increasing student debt, especially how it might dictate my life for the next ten to twenty years.

She had pushed me to go to a four year university for so long, I couldn't be more grateful that she did. However what I am upset about is that America has essentially turned undergraduate schooling into a monopoly. There are tons of students every year that leave school, like myself, with thousands upon thousands dollars of debt and no idea of how they will pay them back. A few quick facts that I found interesting are, student debt has surpassed credit card debt and is only behind home mortgages in terms of the most debt owned in America. During the last ten years full time undergraduate students who are borrowing money has increased by 50 percent. 1.3 million undergraduates in the U.S. have graduated from college with debt in 2012. Finally student debt is estimated to be around 1 trillion dollars (Eisler, D.L., 2014). These are truly terrifying statistics, however is anyone surprised?

I believe that there is a monopoly on the education system in the United States. It's not hidden, we can see how many people come out of college with debt. How? Aren't we supposed to be a country that focuses on the improvement of our people, with hard work and determination. I was always told that going to college was the epitome of that belief. It seems that it is just a business that doesn't care if you succeed or not. Not only do we pay for tuition, room and board, food, utilities, but we even have to pay for books after spending all of that money. The only viable option to afford all of that is student loans. That is how they hook us, and I don't know about you but like a fish to bait I was drawn in. However after looking at the National Education Association (NEA). I received information on plans to reduce student loans and some programs that are in place now.

The NEA was very helpful when looking at student loans. Future educator Brittany Jones states

"Student loan debt has been the driving force of my decisions for the last eight years of my life, and according to my current repayment plan, it is projected to be for the next 25 years of my life, well into the years when I should be planning a retirement. It should not be that way." (NEA, 2016)

Like I previously stated my student debt has become a reality and I didn't think I would be planning the next decade around it, however I find myself doing just that. The NEA seemed to really be involved  in the issue. They had some suggestions on how the reduce the damage student loans are causing on the public such as; increasing grant aid, decreasing the cost of student loans, and a few other viable options. (NEA, 2016) They also gave me some information that I had previously not known which was there are programs orientated towards helping student debt. The first program is income driven repayment. This makes payments more manageable determined by income and family size. Also there is public service loan forgiveness for professionals such as teachers or firefighters. If you make every payment for 10 years (120) on time you qualify to have your loans forgiven, even if you have reduced payments.(NEA, 2016) I have attached the video below that was on their website. I never knew this and was pleased at how informative the NEA was in loan resolutions. They really seem to take pride in making our education a better experience for all of us.

I believe that either there needs to be a reform in the college loan system or we will see a decrease in the amount of people going to four year universities. My theory is in five years once we really see how bad loans can get it will deter students from wanting to pursue their education after high school. This is due to the ball and chain you acquire with your degree, which is your student loans. If people are less inclined to attend schools as an undergraduate, then won't high school not matter? I just feel like we could see a decline in grades because of a lack of motivation when all you are going to do is dig yourself in a mountain of debt. Especially if the statistics keep increasing like; the amount of people borrowing or how much collectively people are borrowing in student loans.

Overall it causes much remorse within me that there are so many graduates with large student loans and we don't seem to do anything to protect these people. It feels like a crime is being committed by these loan companies, however if we don't pay then we are the ones facing consequences. We are the one getting calls about the loans or taken to court for outstanding debt. I am thrilled that the NEA takes so much time and effort to keep us informed on not only theories on how to fix the loan issues but also some real world applications to help in the present. It is an ongoing fight that we as educators must continue to pursue and stay informed on. Not only for the well being of ourselves but to assist future students. To be able to inform them on the reality of loans gives them more tools to attack them head on, and make decisions on how they go about their schooling. There needs to be a reform or our public schooling will suffer. A better tomorrow starts today.

Citations
Eisler, D. L., & Garrison, S. (2014). Addressing college student loan debt Strategies for success. College & Research Libraries News, 75(7), 374-391.

NEA,. (2016). College Affordability. Retrieved 26 February 2016, from http://www.nea.org/home/degreesnotdebt.html