Published July 2013. Financial aid and student loan rules change often, so some details may be out of date. Ask us about your situation.
This thought-provoking post from AlterNet explores how the astronomical cost of college and high student loan interest rates create inequality among students.
Instead of our society increasing access to college and making it more possible for students of lower socio-economic status to receive a college education, we’re seeing a widened gap between the rich and poor and their ability to attend college.
The author argues that the government is making it harder for kids to attend and succeed in college by keeping student loan interest rates at relatively high levels. In contrast to other countries, where higher education is considered a “right,” in America is instead considered as a “commodity, one that can be easily purchased by the wealthy, but not the poor.”
Read the full article for the author’s examination of how the current U.S. system of higher education creates inequality and what can be done to reverse this trend.