Over the past few weeks, The Takeaway has reported about student loan debt and rising tuition costs. President Obama recently unveiled a new program that he says will help lower the interest rates on student loans. But his strategy does not help students who graduated before 2012. As cash-strapped states continue to cut funding for public universities, tuition is likely to keep on rising. How should public universities balance budget cuts and tuition hikes?
Last week, The Takeaway reported that student loan debt is rising along with the college tuition rate. According to the College Board, the average cost per year of tuition is up more 8.3 percent for public four year colleges and up 4.5 percent for private schools. The average college student now finishes school with between $22,000 and $28,000 of debt. While President Obama announced a new program that the White House says will help lower student loan interest rates, some students refuse to take on the burden of debt. Celeste is in Los Angeles this week and she spoke to one such student, a UCLA undergraduate who is so concerned about debt, he's decided to finish his education homeless.