College isn’t always the way to get ahead
By Shahien Nasiripour, Bloombert
For generations of Americans, a college degree was the best way to advance. These days, it may be a way to avoid losing ground.
That’s the unfortunate reality facing millions of Americans in an era of stagnant wages and soaring higher-education costs. Encouraged by government officials to seek out further education and provided with hundreds of billions of dollars in cheap taxpayer-backed credit to finance those dreams, Americans in recent years flocked to college campuses to obtain credentials they hoped would lead to more fulfilling or better-paying jobs.
The result? Outstanding student debt has doubled since 2009 to nearly $1.4 trillion, according to the Federal Reserve.
