The Online Degree Dorm Room

online degree programs psychology | Are we a generation of debtors?

Posted by bposton on December 21st, 2006 — Posted in online degree programs psychology

I’ve been hearing about a new book that goes into the problem of college debt.

The book is called “Strapped - Why America’s 20 and 30 Somthings Can’t Get Ahead”

The author of the book is Tamara Draut, who is part of this 20 to 30 something generation and wrote the book after discovering just how bad student debt from college was contributing to the financial instability of her generation.

Here is a sobering fact on that subject - college debt

Did you know that the average college graduate will come into the working world with an average of $20,000 of debt?

And that’s the AVERAGE…:-( very scary.

So it’s no wonder that about one-thrid of first year college students drop out after their first year; They see the amount of debt they are getting ready to take on, as well as the amount of work they need to do in college just to get by, and they decide “I’m outta here”

I think it’s an absolute shame. This great country of ours will be failing behind in about every area if our young don’t have the educational opportunties that those in other countries have handed to them.

And just as important, how can we stay by while the next generation stuggles finacially with thousands of dollars in debt, forcing them to do all work and no play?

I mean, look at how many college kids are going to school full time and also holding one or more part time jobs - that number is higher now than in the 1970’s or 1980’s.

In fact, according to what I’ve read about 75% of the nation’s college students are working part time.  And almost half of these are working more than 25 hours a week.

And it’s not for beer money - it’s to pay for next semester’s room and board!

Now, in general, working part time while at school isn’t a bad thing, but only if the hours are reasonable, say 15 hours a week or less. And working throught the college at on-campus jobs or internships are great ways to further a student’s connection with their career. But once you get past 15 hours a week, it’s been proven that grades are affected, and the students well-being is affected too.