Given this backdrop, the fact remains that ignoring the student loan crisis is not of much help. Over the past decade, the levels of college tuition and student debt have outpaced employment opportunities significantly. Starting salaries have witnessed a stagnation too. As a result, the rising costs of a college education no longer affects college students and their families only. It has a significant effect on the broader economy too.
Student loans have been in the headlines for many reasons of late. The ever-increasing volume of student loans has long become the second largest form of consumer debt in America – second only to mortgages at present. Yet, the rising costs of college might not be one of the things you worry about.
The Rising Costs of College [SERIES] - New Jersey 101.5
The rising costs of college may lead to more entrepreneurs, but there's no guarantee it will lead to more successful entrepreneurs. There will be a significant increase in part-time business owners. This gives students the protection they need should things go wrong.