The Impact of Student Debts in the United States: The End of the American Dream?

In the last decade, there has been an exponential increase in the cost of higher education in the United States (US). Given that higher education in the US plays a significant role in defining and qualifying the American middle class and American society at large, it is admissible to investigate the following research question: how is the rising student debt in the US affecting the American Dream? This paper analyzes the research question by first, deliberating on various perspectives and arguments of scholars on this issue. Second, this paper defines what the American Dream is and thereafter, uses quantitative data to examine the current state of student loans and student debts in the United States. Interviews are carried out to support and refute the hypothesis of this paper and illustrate a direct correlation between the student debt crisis and the crisis of the American Dream. Finally, the paper also explores current and prospective solutions and policy advice for addressing the...Show moreIn the last decade, there has been an exponential increase in the cost of higher education in the United States (US). Given that higher education in the US plays a significant role in defining and qualifying the American middle class and American society at large, it is admissible to investigate the following research question: how is the rising student debt in the US affecting the American Dream? This paper analyzes the research question by first, deliberating on various perspectives and arguments of scholars on this issue. Second, this paper defines what the American Dream is and thereafter, uses quantitative data to examine the current state of student loans and student debts in the United States. Interviews are carried out to support and refute the hypothesis of this paper and illustrate a direct correlation between the student debt crisis and the crisis of the American Dream. Finally, the paper also explores current and prospective solutions and policy advice for addressing the student debt issue in the US. This paper concludes that the rise in student debt is affecting the American Dream because it is hindering graduate students from achieving their American Dream. The current American generation defines the American Dream as financial freedom, wealth, the ability to buy a house, security, and equality.Show less

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The Impact of Student Debts in the United States: The End of the American Dream?