The idea that college is the path to a better life is firmly rooted in the American psyche. Government policies beginning with the G.I. Bill, the rise of state colleges and universities, and federally backed financial aid were all designed to create more opportunity for more people to go to college in order to advance economically in society. The notion that a college education pays off in the form of much higher wages is the bench mark justification for having individuals and their families paying more and more overtime for the ever increasing cost of a four year college degree.
Yet new graduates in recent years have struggled to get their careers and their adult lives going. Almost two-thirds of recent graduates report that they don't have a job that is closely related to their field of study. Almost one in four already believe that their education was not worth the financial costs. Defaults on student loans have soared, in large part due to the fact that graduates cannot get jobs that pay enough to support their loan payments.
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