Website design By BotEap.comNot only are student loans and the debt that accompanies them still making headlines, these loans have become big business for the federal government. In fact, federal student loans have nearly doubled since 2007, with the result that the US Department of Education made a profit of more than $ 42.5 billion in the last fiscal year. Plus, if Obama and Congress hadn’t temporarily lowered student loan interest rates this summer, that figure would have been around $ 8 billion higher, thus surpassing the whopping $ 47.9 billion in 2011.

Website design By BotEap.comThe other result: Student loan debt now stands at about $ 1.2 trillion. “That,” says Federal Reserve Chairman Ben Bernanke, “is a burden that is affecting, for example, the ability of young people to buy a first home, affecting other purchasing decisions they might make, obviously affecting their condition. general financial “.

Website design By BotEap.comMeanwhile, the Bellevue University study, “The Search for Affordable Alternatives: Rising Costs and Huge Student Loan Debt Put College Out of Reach for Many,” found that:

• 68% of Americans believe that degree programs currently cost more than they are worth.
• 36% said that the costs of a title have risen disproportionately to its value in the last 5 years.
• 76% said affordability would be important to them if they wanted to pursue a degree.
• 37% said affordability will most likely motivate them to pursue a degree in the next five years.
• Only 40% said it is worth going into more debt to get more education.
• 55% said they would only look for a title if they didn’t get into debt.

Website design By BotEap.comOn these results, Bellevue President Dr. Mary Hawkins says, “Students of all ages understand the value of obtaining a degree, but many students cannot pay more than is necessary to obtain these degrees. learn the skills needed to fill the high-tech jobs in the high school of the future. “

Website design By BotEap.comSo how much does college cost today? According to the College Board’s “Trends in College Prices”, on average:

• At public universities, tuition and fees for state residents increased 2.9% to $ 8,893.
• At public universities, out-of-state tuition and fees increased 3/1% to $ 22,203.
• At private universities, tuition and fees increased 3.8% to $ 30,094.

Website design By BotEap.comThen you have to pay for room and board, as well as books and school supplies. The latter alone are estimated to total about $ 1,200 at public universities and $ 1,244 at private schools.

Website design By BotEap.comIn other words, we are talking about a lot of money here and the costs keep increasing. However, college and debt don’t necessarily have to go hand in hand. Choice matters and the bargains are out there, especially when it comes to state license plates. Going public, not private, also makes perfect sense.

Website design By BotEap.comTake a look, for example, at these three Pennsylvania colleges and their 2013-14 tuition costs:

• Bloomsburg University: $ 6,622 (statewide); $ 16,556 (out of state)
• Penn State University: $ 16,992 (in the state); $ 29,556 (out of state)
• University of Pennsylvania: $ 40,594

Website design By BotEap.comYou get the picture.