New NEA Poll on College Affordability

At no time in history has a college education been more necessary or expensive - students are resorting to loans in greater numbers and in greater amounts than ever before.

A new National Education Association poll released yesterday on college affordability found that 61% of current students and 77% of recent graduates used student loans to finance all or part of their college educations. The amount of student loans has also increased for our generation. 34% of recent college graduates totaled their student loan debt to $20,000 - $49,999. Only 6% of parents shouldered that same financial burden for their college years.

College costs are obviously a huge concern for young people, with a full three-quarter of current students naming it as a very important issue for them in the upcoming election. Students have been hit hard on a number of fronts by the faltering economy – tuition is rising, textbooks are more expensive, and even filling up the gas tank to get to class can be a challenge. The debt students accumulate in school can follow them around for years after they graduate, severely impacting the quality of their lives as they struggle to repay loans. But, not many elected officials are actually talking about the high cost of education and the impact it is having on our generation. Another 83% of survey respondents said Congress has done a poor or just fair job on the issue of college affordability.

A majority expressed support for increased federal involvement in finding a solution for rising college costs. According to the NEA poll, respondents favored a plan to offer all incoming college students an annual $4,000 tuition credit in exchange for 100 hours of public service per year over a proposal to expand the lender-of-last-resort capability of the federal student loan program and demand higher standards for private lenders by a 2 to 1 margin.

So where do the current presidential candidates stand? Check out Barack Obama’s position on education here. John McCain’s plan can be found here.

So, what do you think of the proposals currently on the table? What’s your idea for making college affordable for everyone? Let’s hear it!