Many students entering college in Florida and other states around the country do so with the understanding that they will fund their education with loans. After all, the general consensus is that the investment is worth it since a college degree is necessary to improve one’s employment prospects in the future. As a result, new evidence suggests that university graduates are facing more student loan debt than ever before.
The Institution for College Access & Success (TICAS) recently reported that public colleges around the country have been forced to raise tuition costs in response to state budget cuts. Furthermore, countless families have taken a hit to their personal incomes and resources. These factors, and others, may be coming into play as college students accept more and more debt in the form of private and federal loans to cover their education.