The famous Nobel Laureate Rabindranath Tagore wrote in his poem:  where the mind is without fear and the head is held high, Where knowledge is free Into that heaven of freedom, my father, let my country awake.” Noble words from a noble man. He wanted knowledge to be freely available in this world. Unfortunately it is not so. Education has become very expensive especially in America. In the 1950s when Russia sent â Sputnik  into space the then American President felt that if all our citizens are educated then we can become a super power not only in the world but in space too. With this idea in mind student loans were introduced so that even the middle and lower middle class can educate their kids. Till then college education was only for the rich. The federal government introduced loans collaborating with the colleges and education department to help students secure loans at low interest rates. These loans are available at 5% interest with no collateral or guarantee. The repayment starts after graduation and there is grace period also. Still students find it difficult because besides tuition there is room rent, boarding, books and equipment to be purchased. The amount really is a hefty sum for a youngster who is just stepping out of college. He starts life with a loan and ends up paying for almost half his life. Law schools have many loans and schemes where the interest is slightly higher like 8%. One can even avail a direct loan from the lenders but here again your credit worthiness needs to be established. There are some loan programs where parents can take the loan for their kids. This helps in tax deduction but if a family has four children then the load becomes heavier on the parent. Scholarships and aids have become dearer now as funds have been reduced for education. With inflation touching an all time high interest rates are sure to rise and a student will end up paying almost double the principal. Many colleges in collaboration with lenders are giving direct loans with approval of the education department. But here again the lender decides the rate of interest. Since your interest is locked it doesnt change even if the rates lower due to changes in budget. Divorce rates are increasing day by day. Due to this social change teenagers are moving out of homes and learning to live independently. Paying for tuition has gone out of reach for these kids as they have to work to make ends meet. Since tuition costs keep increasing foreign students are opting for other countries like U.K and Australia. In this situation one shudders to think about the future of educated people in America.