Education as a Business

bureau of labor statisticsI was watching a news about debt in American eduction system and it is truly shocking.

Every second student in USA is said to have a loan for their university studies and an average debt per student $25.000, but it may go up as much as $150.000. It is really a business. Compared to Europe where government pays substantial part of eduction, in US students have to pay totality of their loans.

Moreover, since 1985, education cost grew 600%, which is bigger than other major industries: consumer goods (200%) , gas (300%) and health (350%).

Source: Bureau of Labor Statistics

Still, due to ongoing economic recession, many high education students still don’t have a job and can’t pay their loans back.

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