Here in California where I currently reside, the cost of a college education is a hot topic. The University of California system, arguably one of the best in the country, is caught in the vise of the Golden State’s financial woes. On one side, there is the perception that the only way the U.S. is going to regain its dominance in the global economy is to educate its young. On the other hand, Governor Jerry Brown recognizes that you can’t spend money you don’t have, at least not for long. UC is responding to this crisis by pestering their alums for donations, raising tuition, and forcing their students to take out more loans. As of now, there is no short term solution to the spiraling cost of a college education, but the long term impact is starting to come into focus.
Nearly everyone pursuing a bachelor’s degree is borrowing money, and as prices soar, a college degree often comes with an unprecedented financial burden.
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