A closely related issue is the alarming increase in student borrowing to finance college education and resulting student loan debt. In the 2007-2008 National Postsecondary Student Aid Study (NPSAS), the median cumulative debt among graduating 4-year undergraduate students was $19,999; one quarter borrowed $30,526 or more, and one tenth borrowed $44,668 or more. In fact, for the first time in the history of America, 'Student Loan' debt has surpassed 'Credit Card' debt.
There is substantial evidence that students are still getting good value for their investment in an education. Since the mid-1980s, education has played a large part in potential wages, with bachelor's degree holders taking home an average of 38% more than those with only a high school diploma. While college-educated workers' wages have increased over the past two decades, those with only a high school education have seen decreases in annual salaries in the same time period.
There is also substantial evidence that students are not getting good value for their investment in an education. Some colleges and universities in the United States are now participating in grade inflation. Some economists believe that too many people attend college. Not all positions require an individual to obtain a college degree. College students who have acquired a burden of college debt often risk defaulting on their student loans which can lower the individual's credit score. Some employers will be reluctant to hire an individual with bad credit.
The U.S. spends more on education than most other developed countries, and the U.S. has a disproportionate share of the top-ranked universities in the world.