Young America Blames Colleges and Universities for Rising Student Debt

Student debt is still a major issue that continues to grow day by day and a large portion of young Americans believe colleges are to blame for the problem. The Harvard University Institute of Politics released a poll that shows fifty-eight percent of young adults ages 18 to 24 consider the rise of student debt levels in the United States a major problem and only three percent believe it's not an issue at all. Among those who weren't enrolled in college, fifty-four percent still believe it's a major issue.

Thirty-nine percent blame colleges and universities and only 10 percent blame the students and that respondents currently enrolled in school were more than likely to blame colleges.

Over the years we've seen the cost of a college degree increase annually and not having the degree only decreases ones chances of landing them a full-time job and being able to live the "American dream."

However, policy experts and consumer watchdogs relate America's wealth loss to the nation's $1.2 trillion student debt problem that is taking a major toll on the economy as a whole.

Policy and Research Director at Young Invincibles, Rory O'Sullivan says, "Young people who are coming of age today understand that getting a postsecondary education is important [but] they have a lot of fear about the rising cost of higher education."

The co-founder and head of OurTime.org, Matthew Segal said, "People are finally realizing that the college arms race must stop if we are ever going to rein in costs," and noted that several colleges and universities are spending their resources on too extravagant amenities saying, "Too many colleges are acting in the interest of building prestige over providing an affordable pathway to higher learning for their students."

George Washington University is in the middle of building a $130 million on campus dorm, while students at the University of Pennsylvania have the luxury of dining at a juice bar after a long day of being at a golf simulator. Iowa State University spent $46.2 million just to renovate a campus gym that now has rock walls and hot tubs. Students have the luxury of swimming pools being in the dorms at the University of California -Davis.

Some individuals believe that student debt is due to the outrageous number of student loans an individual takes out to earn the degree, just to land a job where they can't pay the loans back or don't use the degree they're awarded.

Who do you believe is to blame for the uncontrollable amount of student debt Americans face and how has it affected you? Stay tuned for more news and updates.