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High student loan debt may have a greater effect on the U.S. economy, as reported by Reuters in an online article published August 20th, 2012.
Experts claim that colleges and universities throughout the nation have continued to increase their tuition, and now younger generations have to decide whether the high debt is worth the higher education.
Universities and colleges have now started to report a drop off in applications and enrollment, which has caused many higher educational establishments to face financial troubles. Both state and private schools face these issues. In a recent financial report, experts have stated that these schools now have tuition that are too high for their students to afford without the availability of substantial financial aid options.
With the economy still not completely stable, the financial experts strongly suggest that these educational establishments look to lower their expenses before raising tuition. If they do not, then fewer Americans will be willing and able to attend such programs.
At the law offices of Jayson Lutzky, P.C., we are here to help you. If you are considering bankruptcy, you should contact a qualified attorney. Mr. Lutzky has helped thousands of clients over the past 29 years. To set up a free initial consultation call us at (800) 660-5299 or visit us on the web at www.BankruptcyNYC.com.