THE ISSUE
THE MODERN STUDENT
8 in 10 African Americans are in debt
6 in 10 White Americans are in debt
*The Debt Trap: How Student Loans Became a National Catastrophe by Josh Mitchell
As part of the national trend of the past three decades toward steadily-increasing privatization and consumerist-corporatization, universities have followed suit and become a source of commodity. Over one-third of Americans aged 18-29 have substantial student loan debt, with over 20% of them owing $25,000-50,000 to institutions, leading to a striking financial crisis for two generations of citizens and students. With vastly higher tuition prices, receding educational funding from states and federal programs, and stagnant wages despite inflation reducing purchasing power by more than 15%, students currently pursuing degrees are largely finding it more than difficult to stay afloat and experiencing the highest- observed quantities of alarm and trauma.