Is college worth it? Just consider the following statistics about how much debt our young Americans are going into just to get an "education"....
#1 According to the Student Loan Debt Clock, total student loan debt in the United States will surpass the 1 trillion dollar mark in early 2012.
#2 Total student loan debt in the United States is increasing by approximately $2854 every single second.
#3 The average college student now leaves school with $24,000 in student loan debt.
#4 Approximately two-thirds of all college students graduate with student loans.
#5 The total amount of student loan debt in the United States now exceeds the total amount of credit card debt in the United States.
#6 Over the past 25 years, the cost of college tuition has increased at an average rate that is approximately 6% higher than the general rate of inflation.
#7 Back in 1952, a full year of tuition at Harvard was only $600. Today, it is $35,568.
#8 Average yearly tuition at U.S. private universities is now up to $27,293. That has increased by 29% in just the past five years.
#9 The cost of college textbooks has tripled over the past decade.
#10 Since 1978, the cost of college tuition in the United States has gone up by over 900 percent.
#11 One survey found that 23 percent of college students actually use credit cards to pay for tuition or fees.
Sadly, the quality of the education that our young people are receiving in return is absolutely pathetic.
Personally, I spent a total of 8 years attending universities in the United States. I saw first hand what a joke most college courses are.
The truth is that things have gotten so bad that the family dog might just be able to pass most college courses in the United States today.
In a previous article I authored entitled "Student Loan Debt Hell: 21 Statistics That Will Make You Think Twice About Going To College", I noted many statistics that seem to indicate that the quality of college education in the United States has declined dramatically. The following are a few of those statistics....
- The typical U.S. college student spends less than 30 hours a week on academics.
- According to very extensive research detailed in a new book entitled "Academically Adrift: Limited Learning on College Campuses", 45 percent of U.S. college students exhibit "no significant gains in learning" after two years in college.
- Today, college students spend approximately 50% less time studying than U.S. college students did just a few decades ago.
- 35% of U.S. college students spend 5 hours or less studying per week.
- 50% of U.S. college students have never taken a class where they had to write more than 20 pages.
- 32% of U.S. college students have never taken a class where they had to read more than 40 pages in a week.
- U.S. college students spend 24% of their time sleeping, 51% of their time socializing and 7% of their time studying.
- Federal statistics reveal that only 36 percent of the full-time students who began college in 2001 received a bachelor's degree within four years.
Pretty depressing, eh?
A college education may not be what it once was, but it is a great way to get into massive amounts of debt.
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