11-19-2013 02:53 AM - edited 11-19-2013 02:54 AM
Going to college has long been an essential part of the American Dream. The
formula reads: get an education, work hard, and you’ll get ahead no matter who you
are or where you come from. Unfortunately, the current reality looks somewhat
different. Education costs have skyrocketed, while family incomes have stagnated.
The effects of the 2008 financial collapse are still felt across the country, as
households continue to recover from the loss of a job, a house, or hard-earned
savings. As a result, students and families who are strapped for cash have
increasingly turned to student loans in order to pay for college.