The increasing student debt has started to harm the American Dream and the way that the middle class lives. This is one of the reasons why the middle class is shrinking because college tuition in 2013 increased 50 percent since 2000. As you can see from the graph college costs have risen 257% from the early 1980’s. Increases in financial aid have helped but only for those with the most need but what about the middle class families who take out loans and mortgages to help pay for their child’s tuition because middle class families are not able to gain as much financial aid because they earn too much to receive financial aid. Though I understand that schools are trying to give the aid to the most in need many middle class families are close to the cut off price and struggle because of the lack of financial aid. The college world is starting to turn on the middle class. It has been calculated that the average rate of intergenerational mobility has decreased over the years. The rising cost of tuition and the strict hold on financial aid the middle class college students are suffering from finding a job and paying off their debt.
Data gained by outside resource:
NC State University. “How Much Has Tuition Really Increased?” CALS News Center RSS. NC State University News Center, 09 Jan. 2013. Web. 06 Dec. 2014.