Unless you are very lucky, you might find it hard to survive in such times with just a high school diploma. This is the reason why a further education is a must in today’s times. With time the competition in every field is fierce, and if you are not the best at what you do you might become a victim lose the race for survival of the fittest.
However, college education is not in everyone’s reach due to the increasing tuition costs and high living expenses. Also, the financial aid that is available for the students is only limited so not everyone has the benefit of having their college expenses covered. As a result, many students are forced to take loans to fund for their higher education. According to the statistics more that half of the students that apply to colleges have to take loans because they cannot afford the fees otherwise.
The unfavorable part of the loans is that the interest rate on these loans increases with time. Even worst, it increases rapidly when the economy is deteriorating. By the time the students graduate from the college, not only do they have to fight for employment but also deal with the loans that have accumulated over their college years.
This is the reason why a significant number of students do not pursue higher education, even if they were brilliant in their high schools. College education is essential, but not everyone is privileged with the means to attain it. Sometimes, even the families the families of the students discourage them from joining an institution because their financial condition is already not in a good shape.
Many steps have been taken to provide college education for every high school graduate in US, and the most recent is the effort that is being made by the current US president Barack Obama. Under the scheme which he will introduce, there will be an increase in the amount of the Pell grant. If this happens, it can help a lot of students to study further without having to worry about the financial matters.
Although this scheme has yet to be implemented, but we really hope that proves to be an asset for everyone. In the meantime there are still other education grant and financial aid options available to you that you can take advantage of if you are in immediate need of financial assistance.