"It's unfair that higher education costs so much!"
"The government should step in and help students get out of higher education debt."
"Higher education is a right!"
"Paying for higher education is impeding my financial independence in adulthood."
You get the idea? See how economically silly you sound?
You've decided to purchase something expensive. No one forced you. That's on you, nobody else. Are colleges fleecing you, at least a little bit? Yes. Should you be bothered by it? Probably. But here's why the cost isn't the problem. The problem is your approach to the debt.
Guess which demographic spends the most money per year on Starbucks. People 18-24 make up 40% of Starbucks' total sales. That means they spend nearly as much as everyone else from ages 13-100.
Guess which demographic spends the most on marijuana and alcohol per year. Roughly 37% of all marijuana users are in their 20s, and half of that group spends an astounding $1000-$2500 per year. College students drink 10% more than other people of the same age, and college graduates drink much more than people with only a high school education.
Guess which demographic spends the most per year on smartphones. College graduates in their 20s purchase the most smartphones.
Guess which demographic spends the most money on pet ownership. Millennials.
For a group that constantly complains about having immense amounts of debt and insufficient income due to low-paying jobs, young people sure do seem to have a lot of disposable income. Seems to me that if most college grads simply budgeted a little more wisely, and stopped wasting money on frivolous purchases like those above, they wouldn't me in such dire financial straits.
Stop buying insanely expensive coffee. Stop wasting money on chemicals that kill your own brain cells. Instead of a $400 iPhone, buy a cheap track-phone with limited minutes, messaging, and data. And stop buying money-draining animals until you're much older, have a lot more money, and have much more space to let your furry friends actually get outside of your stinky, cramped apartment (and riding in your ridiculous purse doesn't count; it has more legs than you do--let it walk!). Trust me, it's super easy. Anyone with an ounce of self-discipline can do all of these things. My wife and I both did it for years.
I also recommend you take advice from a recent graduate from the University of Michigan, who paid off $61,000 in school bills in less than two years. His secret? Ta-da! He used a budget, planned for the future, and didn't buy stupid things--amazing idea! Take a look at his story and advice on Forbes this week.