Peterson-Withorn, Chase. "How Today's Student Loan Debt Is Failing Future Generations." Forbes. Forbes Magazine, 30 July 2014. Web. 15 May 2015. <http://www.forbes.com/sites/chasewithorn/2014/07/30/how-todays-student-loan-debt-is-failing-future-generations>
This article by Chase Peterson-Withorn is to address the problem of student loan and the debt that future generations will have to face as a result of college cost. With the increase in the amount of students going to college by 70% from 2004 to 2012, this is going to be a problem in the future as the debt that students accumulate debt as they go after high sought after jobs. When student can not get these job, the debt they have accumulated becomes overwhelming and it become unmanageable with a minimum wage job. Forbes is a website that features original articles on finance, industry, investing, and marketing topics. The main subject of this article would be economist and future college students of the rising issue of student loans. This article points out that Tuition and fees have risen 538% since 1985 and the has outpaced the consumer price index by 400%. The student debt has surpassed the credit and auto debt at 1.2 trillion dollars. The American Student Assistance (ASA) reported that 63% of graduates claimed student loan debt affected the ability to make large purchases like a car and 47% of graduates said that debt had an impact when deciding whether to start a small business. This lack of investment is hurting the country as a whole.
Greenstone,Mike."Rising Student Debt Burdens: Factors Behind the Phenomenon." The Hamilton Project. Web. 15 May 2015.<http://www.brookings.edu/blogs/jobs/posts/2013/07/05-student-loans-debt-burdens-jobs-greenstone-looney>
The Hamilton Project is to address the root causes of this problem. Nearly one in five American households had outstanding student debt in 2010, as did 40 percent of households by a person younger than thirty-five. This will be putting a burden on future home owners as the student loans will discourage some young adults from investing. With the lose in investment, the economy may suffer. The increase in enrollment of students from lower and middle income households may have increased the proportion of students taking out loans. The Great Recession reduced family income which have left families with fewer resources available to pay for college and may have lead to greater dependence on student loans.