Higher Education May Earn Your Child Middle Class Status, If It’s Still Around

A thoughtful post worth sharing with parents and educators. Thanks, Christine!

THE TERRY TUTORS BLOG

majoring in debtIn light of President Obama’s 2015 State of the Union Address, I thought it appropriate to touch upon his proposal to do away with the 529 Higher Education Tax Free Savings Plan and replace it with comprehensive college cost reform, including making community college free. There are mixed feelings surrounding this idea but I for one agree that saddling our new grads with obscene amounts of student loan debt takes a toll not only on our young professionals but also on the economy, particularly the Middle Class.

Since the mid-1960’s, Baby Boomers began earning college degrees in droves for a fraction of the cost of their children, due to federal subsidies fueled by a national push to ensure college for all. Although a noble idea, there were so many students earning their Bachelor’s degrees that over time the four-year college achievement was watered down –some now consider it a mere…

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