Each month, my husband and I see our bank account significantly decrease. Of course, some of it is due to the cost of groceries, gas, and utilities, but the significant decrease comes from our monthly student loan payment.
I know we are not alone in this scenario. We know numerous friends and family who pay hefty student loan payments each month. We also hear about others who are in the same predicament. According to The Project on Student Debt, the average national student loan debt for a college graduate is $28,400; the average amount within Colorado is $24,520.
Ask yourself these questions:
• Has student loan debt become the new norm for obtaining a post-secondary degree?
• Does this new norm prevent and discourage students from pursuing a post-secondary degree?
• Does change need to occur in order to allow everyone the ability to obtain a post-secondary degree without the fear of large student loan payments?
If you answered “yes” to any of these questions, you’re not alone.
President Obama recently proposed changing today’s current student debt dilemma through the American College Promise Proposal. This proposal will allow students across the United States the opportunity to receive a free two-year community college education. Students can save an average of $3,800 in tuition per year and an estimated 9 million students can receive a post-secondary degree or certificate without incurring tuition debt.
This proposal will let a student continue his education and apply two-year education credits toward a four-year bachelor’s degree. Although students will be responsible for the second half of their bachelor degree costs, they will have the opportunity to graduate with a reduced loan debt amount compared to today’s national and state average.
As time and workforce skills progress, Colorado students will need advanced education and skills. In the 2014 report, “Missing the Bus: Colorado’s Elite College Access Gap,” Colorado Lt. Gov. Joe Garcia stated that by 2020, 74 percent of all jobs in Colorado will require some sort of post-secondary degree. In 2012, the Colorado Commission on Higher Education stated only 51 percent of the adult population in Colorado had a degree or certificate.
President Obama’s proposal would help current Colorado students fill this gap and will prepare them for successful futures and careers.
The president mentioned post-secondary education should not be limited to only those who can afford it, nor should a student have to acquire a large amount of debt to make a better life for themselves. Post-secondary education should be available to all who are willing to work hard to achieve their dream of a better life.
Within Colorado, the proposal will allow low-income students the opportunity to attend post-secondary schools and give them an opportunity to break the cycle of poverty within their families and communities. Obama’s proposal will allow the 42 percent of Colorado students who qualify as low-income a chance to be equal to their higher-income student peers.
As more information about the American College Promise Proposal is announced, consider the great benefits it will have on the students of Colorado.
Marie Munoz is a graduate student at the University of Colorado Denver.
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