Congressional Digest

Excerpt

The cost of a college education is becoming increasingly
prohibitive for many American families. Over the last 10 years, average
tuition and fees, adjusted for inflation, grew by 36 percent in private
four-year institutions and by 51 percent in public four-year
institutions, according to the College Board. The American Council on
Education found
that from 1993 through 2004, student loan volume increased
from $19.89 billion to $50.5 billion. A typical borrower has $17,500 of
student loan debt after graduating from college.
Many fear that this trend has serious consequences for
America’s leadership in the glo…