Student Loan Debt??

I do agree with classmate Sara's blogstage five that student loans are growing at substantial pace but that is the only truth I see in this argument. Once the great recession hit in 2008 there was a shock sent around the world of a crumbling U.S. economy. Jobs were lost at an exponential rate that our generation has not previously seen. So if there are no jobs and the U.S. has always pushed an agenda that higher education will bring prosperity and the American dream, the only thing left to do is go get that college degree, or MBA. 

In 2009 the applications for MBA rose at a pace never seen before. The thought process of a higher education will increase ones earning power. In an economy that is losing high paying white collar and blue collar jobs, there simply isn’t a need for the “higher educated.” With the low demand of high paying jobs, student debt accumulates. Recent studies that have been published in the Wall Street Journal show that more companies are hiring undergraduates, than MBA’s. College Grads Gain on M.B.A.s states “for some companies, a bachelor's degree means cheaper, more malleable workers. And that's just what they need right now.” There just simply isn’t a demand for higher or highest education. 

If Sara’s facts are correct and the average college student leaves with $25K in debt, then the average MBA student in 2 years leaves with $60K in debt and the same paying job as the undergrad. There is the problem, not the fact that Obama isn’t passing laws to take off the burden of debt on college students then just pass it along to the American Worker, the underlying problem is that high paying jobs are being lost in the US. If America wants to become a major player in the world economy and not be so burdened with debt, there needs to be job creation from janitors to CEO’s so those people working their way up can pay off those loans and still be able to buy a TV, go to dinner and pay with cash not credit. The answer isn’t a “debt relief plan” as Sara quotes, the answer is job creation that creates buying and spending power.