The election cycle is definitely started. Bernie Sanders announced his Presidential run. On Twitter, a Bernie Sanders supporter said she is over 200k USD in debt. just to get a college degree.
There is no doubt that such a high level of debt will put on some emotional stress on people. But what does an education degree brings you?
According to the FED own data, a year of study would cost around USD 17,000. This does not include food, housing and so on. But this is the average costs. Some places are more expensive to live than others. So let’s assume that Bernie Sanders supporting the student is living and studying in an expensive town.
Based upon all costs and some reasonable calculation it is fair to say that the student went to a private, for-profit, institution.
But why should we worry about those who are in debt due to student loans? Did they sign the contract with a gun to there head? Was there no alternative?
The real problem is that student loans make students less price sensitive. They can simply borrow the money.
The real solution for the American debt bubble is that people stop making more debt. When this happens they could simply start making small debt repayment payments. By making a start with as little as USD$ 200 a month they are at a starting point.
A perfect method to do this is by simply start making money with a blog. Something which is perfect for everyone. Even if you are not a student.