President Obama’s proposal for tuition free community college, confirms our belief that it is time for a comprehensive solution to a $1.3 trillion problem: student debt in the United States. College student’s debt is probably the most popular and longest date of a person life. People spend most of their adult years paying off this debt, in fact student debt is the second largest personal debt surpassing credit cards and is trailing behind home mortgages. According to the National Center for Education Statistics, the average amount owed for each graduating borrower has risen from less than $10,000 in 1993 to more than $30,000 in 2014. The increase in tuition also affects the amount of people that actually attend colleges and do not drop out.
With the inflation of prices for various things such has taxes and living cost, the prices on tuition also has risen. The cost of a college degree has risen steadily over the past three decades, with Bloomberg News reporting a 1,200 percent increase since 1978 outpacing the rate of inflation. The increase of the tuition started after World War II when higher education was in demand for jobs. So colleges took this opportunity to make money because the economy required education