As the summer gradually comes to an end, college students across the country are returning to their various campuses to continue their pursuits for a higher education. Although students do not share the same reason as to why they chose to attend college, I believe many of them can agree that their choice was inspired by the idea of living a more affluent, secure, and purposed life. For decades, attaining a college education has been seen as the key to living a successful life in America. However, this image has been vastly misrepresented. What is not being propagated is that college, for some, is a lifetime sentence that forces one to pay off loans they did not account for.
Many college students are being misled by the belief that their degree will afford them the riches of this world. Sadly, there are many students who have graduated and had to face the harsh reality that what they have been told is not definite. The month of August represents the beginning of another school year. While this is true, many college students dread back-to-school season. The apprehension of such month comes from the extreme burden of securing finances to attend their college. Student Loan Hero is a leading company that helps students to identify their total loan amount to provide them with individualized plans to help them repay their loans. They have recently released shocking statistics around student loans and those that borrow. According to Student Loan Hero, students in the United States have accumulated $1.26 trillion in student loans. Additionally, it was reported that 43.3 million Americans are currently living with student loan debt and may never pay their debt off during their lifetime.
So as college students return to campus, please note that their school is not just a place of higher education, but it is a trillion dollar corporation. Universities and colleges as a whole can profit more than companies like Google, Exxon Mobil, Microsoft, and Apple. Apple has a market cap of more than $700 billion, doubling that of Exxon and Google, which cannot be compared to the $1.26 trillion sum total of Colleges and Universities. Once again, higher education in America has become a trillion dollar industry that leaves students with years of debt.
Throughout the course of August students will be forced to request loans because scholarships are more competitive than ever, due to the steady rise of students receiving an undergraduate education. From students who have exhausted their efforts to secure scholarships, to those who have not received any aid, to those whose parents are unable to borrow money, may face the harsh reality of being purged from their classes sometime during the month of August or early September.
Education is so expensive that students often have to come up with creative ways of getting money to pay tuition and other fees. Over the years I have seen students find many ways to pay for college. From creating GoFundMe campaigns to resorting to more extreme measures such as picking up a night job that required them to compromise their morals. Students do this in an effort to escape the embarrassment of being purged from their classes because they are unable to pay.
So remember, although August is a month for us to celebrate as we send our friends and family members of to school, let us not forget the reality that most college students are facing. Let us not forget those who raised just enough money for their tuition but can not afford a meal plan or housing so they are forced to sleep in their car and go nights without any food. Yes, this is the reality that many college students are facing or could possibly experience at some point throughout their collegiate career.
Until America change its perspective on education and make it more affordable, we must help students in need by donating to students we may know or by donating to organizations such as the Gates Millennium Scholars, the National Association for the Education of Homeless Children and Youth, or the Pride Foundation. Your contribution will help at-rick students live up to their dreams of getting a college education. The more we donate to organizations like these, the more we eliminate the need for federal loans.