Believe it or not folks, the educational system in the US has taken a turn for the worst. Don’t read me wrong right off the bat, I’m all about education. The truth of the matter is that education isn’t broke but our education system is. Most people would be floored to find out that in National Global Rankings of Educational Score Performance, the US falls 33 in reading, 22 in science, and didn’t even make the chart for mathematics. Now rankings don’t say everything but it should be a gut check. Are we really applying our youth and what kind of education are they receiving in our public education system?
On top of the staggering numbers we are dealing with a financial crisis from college debt in America. Many private loan companies are taking full advantage of the strong “push” (or should I say shove) for students to get into college. It’s not even a question any more what you do after high school, rather the question is….where are you going to college? No body hardly ever asks, how do you plan to pay for your investment? Until you are out of school and your 6 month grace period kicks in. According to CNBC’s The College Debt Crisis the percent of private loans for student education continues to rise at an excruciating rate. This is particularly dangerous because most private loans have interest rates in the teens and are a very risky and expensive source of credit. Besides, we can’t forget that most of these lenders (including the colleges) are in the money-making business. I’m not here to “scare” anyone away from education or continued education; but I do want to be a voice of concern. You really are making an investment when you take out a loan for school; the sad reality of the matter is that most people really don’t understand investment, or interest (at least I didn’t when I started college). You really have to make sure you understand the financial situation you are putting yourself if when you take out any type of loan, even a loan for education.