Getting a college degree has typically paved the way for a better economic future. Those with bachelor’s degrees typically earn 75% more over their lifetimes than they would have with only a high school diploma.
The price of that college degree has become more daunting by the year. The average undergraduate tuition, fees, room, and board for full-time students in the 2020-21 school year was $25,910.
While grants and scholarships offset the cost of college, many people finance their higher education through student loans, which has resulted in about 44 million Americans who are now paying off $1.7 trillion in student debt.