Aug 04, 2016 04:20 AM EDT By Staff Reporter, UniversityHerald Reporter

There are varying reactions to the college debt crisis of 2016. While some think that it's not affecting the economy that much, there are currently four real problems that the entire nation is facing. Fortunately, there are also possible solutions to these dilemmas.

Last week, it was reported that there are people who believe that the college debt crisis has been blown out of proportion. There are four myths that are creating panic in the nation that should be taken off of people's minds.

Apparently, there are college graduates that are not being burdened with college debt. Those who graduated with a bachelor's degree have been found to earn much more than those who only finished high school and the so-called "academic bloat" is not the reason for public-college tuition increase. Moreover, free tuition is not the answer.

According to Vox, there are four genuine challenges that are being experienced by the American public today. The publication also shared the possible solutions to these problems.

1. Uncompleted college programs are a waste of students' time and money. A lot of those who start their postsecondary programs voluntarily are unable to finish. This problem is more serious than actually starting college in the first place. Students from disadvantaged economic, racial and ethnic backgrounds generally have a hard time completing their education. Directing money to schools and programs to help poor students should be prioritized than reducing the debt of middle-class graduates of good colleges.

2. Higher education is expensive and, more often than not, ineffective. One of the surefire ways to attract funds for support of public investments in college is to let people see that colleges are using the money wisely.

3. Faculty in the U.S. has dismal pay and horrible working conditions. The government ought to invest in a more stable career structure that will motivate teachers to do their best work, which would include training, job security and recognition.

4. There are a lot of "enrollment-hungry" colleges. Schools that have fewer than 800 students tend to have serious trouble with maintaining and staffing for a full curriculum. While there are advantages with going to small colleges, the publication suggested that some type of consolidation for these institutions should take place.

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