The Existential Crisis for Colleges: $1.64 Trillion in Student Debt and a Pandemic. | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

The Existential Crisis for Colleges: $1.64 Trillion in Student Debt and a Pandemic.

The fall season for those with teenagers exploring college options can be one filled with anxiety and uncertainty in more stable times. This is anything but a stable time. We have college tuition spiraling out of control for well over two decades while a pandemic forced students to learn online away from carefully manicured campuses. How do you decide on which college to attend if you are unable to visit the campus, explore the classes, or experience what has been so painstakingly packaged to embody the college going years? That is the question millions of families are grappling with in the middle of all the other questions the novel coronavirus has tossed at us. Colleges are having to face an existential challenge in what they truly believe in – do they want to educate our future or serve only as a finishing school for the affluent in our society?

The Student Debt Crisis

Here is a sobering number for you: $1.64 trillion. That is the amount of student debt floating in our economy. And this number continues to grow on a slow pace of unavoidable expansion. Many parents with K-12 aged kids went to college at record levels. With the world seeming so unstable, people are seeking to replicate some form of clarity. College seems to be the end work of raising “good” kids and reflecting a training ground for future success. But that is not always the case.