Blog 7: Undergrads Around the World Face Student Loan Debt:

Summary:  Student debt is not unique in the United States, but financial aid systems vary around the world.  American student loan debt has increased to more than 1 billion dollars and more than 7 million borrowers are in default.  This problem isn't just unique to the United States, but other countries as well. Japan and Great Britain are taking out student loans to finance their aid. In Japan a estimated 5 billion dollars in student loans were past due and the tuition cost has increased over the last 10 years dramatically.  Even though the cost of tuition at public universities in Japan is less than American colleges, the Education is the same if not better than the United States.  The United Kingdom  is now also allowing students to borrow loans as far up as to 10,000 dollars and increasing.  Other countries are now following the system of the American loans, but those loans aren't slowing down anytime soon.

Analysis:  Around the world student loans are increasing and following the American system.  They are increasing but that means that more people are going into debt trying to pay off the debt.  All over the world, the schools tuition is increasing.  Personally I think that the student loans around the world are a great idea, but should be cut off at a certain point so that people won't go into debt in the future.


http://www.usnews.com/education/top-world-universities/articles/2013/11/13/undergrads-around-the-world-face-student-loan-debt