Prior to the late 20th century, pursuing a college degree wasn’t as quite as important as it is today. In fact, in the past, if you were a college graduate, you were considered to be in the minority; however, today, a college degree is essentially a requirement for a majority of careers. As the need for a college education increased, the less affordable it became, therefore, student loans became a must. While student loans do help provide individuals with a higher education, they can also get you into heaps of debt.
While we can all benefit from a college education, the future looks pretty bleak for those with student loans. And, if you’re still paying off your student loans and have children of your own, how do you expect to save enough to provide your kids with the same opportunities you had? The best thing you can do to give them the best future possible is to prepare them as much as you can, such as teaching them about money management at an early age. Take a look at this infographic from ConsolidatedCredit.org and find out more about the history of student debt in the United States, and what college students with loans should expect during the coming years.
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