Attending college in the United States is awfully expensive, which is one reason that we have $1.2 trillion in student loan debt outstanding in America.
The average four-year public school in the U.S. is about $20,000 and the average four-year private college or university carries a price tag north of $40,000, according to the College Board.
As if those prices aren’t high enough, some families are struggling to pay even bigger college bills. That’s because dozens of the country’s top schools are now well above $60,000 per year.
What exactly is going on here?
There are at least 3 reasons for the growing cost of college in the U.S., as well as the ever-rising student loan debt problem in America: [continue reading…]