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For most of my life, there was a belief in this country that the next generation would do better than the one that came before it. I think about my parents\u2019 and grandparents\u2019 generations slogging their way through the Great Depression, World War II, segregation and the civil rights movement that put America on the mantle of world leadership in this area.<\/p>\n
Regardless of race or ethnicity was the assumption that if you worked hard and stayed after it, you could build something for yourself in this society and get ahead. The idea was to hand something down to your children and their children, so that each successive generation would have it just a little bit better than the previous one.<\/p>\n
The key to all of it, or so we were told, was education. Initially, education was about building a basic foundation of competency among all citizens. It was at the heart of trying to achieve equality, as well. From preschool through Grade 12, the idea was to equip people with the tools to function and participate in the life of the country.<\/p>\n
But, the real golden ticket was higher education. It wasn\u2019t always that way. According to the National Center for Education Statistics,<\/a> heading into World War II, only 8.4% of people ages 18 to 24 were enrolled in college. After that, many in this age group went off to war.<\/p>\n Coming out the war, things began to change. By 1950, the percentage of 18-24 year-olds enrolled in college was up to 14.3%. That number jumped to 23.6% in 1960. It continued climbing to 35.8% in 1970, grew to 40.2% in 1980, and passed the 50% mark in 1990 (51.1%).<\/p>\n Much of what fueled the jump in college enrollment was access and affordability. For example, consider that up until the mid-1960s, the City College system in New York was free. The same held true for state colleges and universities in California.<\/a> And, what wasn\u2019t free was affordable. According to the education statistics center, the average in-state tuition and fees for one year at a public non-profit university in 1970 was $394. Go figure.<\/p>\n But ever-increasing costs are largely why the number of young people attending college is now down to 42% of the 18-24s enrolled \u2014 who can blame them? According to educationdata.org<\/a>, the average cost of attendance for a student living on campus at a public, four-year, in-state institution is $25,707 a year, or $102,828 over four years. Students who attend these schools from out of state will pay, on average, $43,421 a year or $173,684 over four years.<\/p>\n If you are like 96.6% of all those who earn a bachelor\u2019s degree, you will likely earn it in six years, not four years and if you do, the price of your education will rise to approximately $213,306. Educationdata.org<\/a> tells us that student borrowers pay an average of $2,186 in interest each year on their college debt and the average student borrower will spend roughly 20 years paying off their loans.<\/p>\n That\u2019s why it\u2019s critical to support the Biden administration\u2019s one-time federal student loan debt relief program at studentaid.gov<\/a>. Right now, elements of the program are on pause due to legal challenges.<\/a> My hope is that the courts will uphold this program, but the administration is encouraging filing applications, regardless. If eligible, you could get a full or partial discharge of your loan balance up to $20,000.<\/p>\n The program won\u2019t help those with private student loan debt. But, you should apply if you have certain federal student loans including: William D. Ford Federal Direct Loan Program; Federal Family Education Loan Program; Federal Perkins Loan Program loans held by the U.S. Education Department (ED); defaulted loans (including ED-held or commercially serviced, subsidized Stafford loans, unsubsidized Stafford, Parent PLUS, graduate PLUS and Perkins loans held by ED).<\/p>\n According to the studentaid.gov<\/a>., consolidation loans are also eligible for relief, so long as all of the underlying loans that were consolidated were ED-held and the proceeds were disbursed on or before June 30, 2022.<\/p>\n Eligibility is also tied to tax filing status and income. The limits to qualify are an income of $125,000 or less if you are single, or are married but file separately. The limit is $250,000 if you are married and file jointly, file as the head of a household, or are a qualifying widow or widower. You\u2019ll need to meet the income criteria for either 2020 or 2021, but you don\u2019t need to meet it for both years.<\/p>\n If education is the golden ticket, spending 20 years paying off student loan debt has to change.<\/p>\n Albert B. Kelly is mayor of Bridgeton. Contact him by phone at 856-455-3230 Ext. 200.<\/i><\/p>\n Our journalism needs your support. Please subscribe today to <\/i>NJ.com<\/i><\/a>.<\/i><\/p>\n Send a letter to the editor of <\/b>South Jersey Times<\/b><\/a> at <\/b>sjletters@njadvancemedia.com<\/b><\/a><\/p>\n Bookmark <\/i>NJ.com\/Opinion<\/i><\/a>. Follow on Twitter <\/i>@NJ_Opinion<\/i><\/a> and find <\/i>NJ.com<\/i><\/a> <\/i>Opinion on Facebook<\/i><\/a>.<\/i><\/p>\n<\/div>\n