this post was submitted on 11 Aug 2023
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First world countries take fundamental services and resources available to them for granted for e.g. the senior secondary education system. Citizen of a county pay the government taxes who provide you with the infrastructure and organization of professors and lecturers to help you with your education. But in developing countries like India, education of the same standard is private i.e. for profit and your education is second priority.
Even in major cities, where you would expect the education to be of the standard to propel a student to a university wherein they identify their new roles in society is abysmal.
I think student loan debt to some extent is a parallel problem. What US is trying to tackle during and after higher education is what developing countries face on the way to university.
I know that standard of education comes into play which is one of the factors because of which debt is astronomically high but I admit I don`t really know much (about the student loan debt problem).
In the US the student loan debt crisis stems from tuition costs rising significantly over the last 50 years, faster than inflation and faster than wages. The reason tuition costs have skyrocketed at public colleges and universities is because the federal and state governments have been slowly reducing grants and funding of colleges and universities.
I have a friend who's trying to pay for college entirely out of pocket, and he's working 40 hours a week while going to school, gets free student housing as an RA and lives extremely frugally but still struggles to pay tuition
I can empathise with that that someone getting his degree has to work so much to get through.
Student Loan debt is corner stone issue.