Student Debt-Free California : What Does It Take For It To HappenBy Amanda Foster, UniversityHerald Reporter
When it comes to higher education, there are students out there who are willing to take on a huge amount of debt in student loans because of the promise and investment they are going to earn after college or university graduation. But according to reports, student debt is getting heavier with California students.
When it comes to students in California, with the cost of living and expenses in the state, students are protesting fee increases. Last year, 6 out of 10 graduates carried student loan debt and the average borrower holds around $28,400, as reported by Lend EDU.
Student loans are not all bad, there are risks and rewards associated with the opportunity gained from higher education. It can be worth it. But California students are worried about the increasing college fees. The state of California can help these students get through it but the costs involved are high.
According to a report from the Legislative Analyst's Office, the potential cost to help these students is about $3.3 billion per year. The state could help the University of California students, California State University and California Community Colleges students cover both tuition and living expenses, as reported by Los Angeles Times.
But this is still an analysis because with the University of California having recently approved a tuition increase as well as other colleges considering a tuition increase, families are getting worried. Everyone is looking at the report with high hopes because it gives them the potential map that college affordability is possible and reducing student debt is realistic. However, it can take several years.
In the report, 53 percent of University of California graduates and California State students end up with an average debt of $19,500. If a program that covers both tuition and living expenses would be realized then it can cover students' concerns who are still struggling to pay for housing, food and other expenses. For now, this is still in the drafts until the state can approve the budget.
Watch the CBS clip of Jackie Ward reporting on the University of California Board of Regents plan to vote on tuition hikes: