$1,700,000,000,000

341,000,000

42,000,000 

$39,000

20 

There are a lot of zeroes in the numbers above, especially the top 3. Can you guess what they represent (without googling it)?

I’ll give you a second to think.

Alright, got your guesses?

The first number, $1.7 TRILLION represents the amount of student loan debt currently held by Americans.

The second number, 342 million, represents the current United States population.

The third, 42 million, represents the number of Americans holding the $1.7 trillion in student loan debt.

The fourth represents the average debt load per person: $39,000.

And finally, 20 is the number of years it takes the average person to pay off their student loans. 

You read that right. It takes the average person 20 years to pay off their student loans.

How many people do you know that are taking their student loans into account when considering having a baby, buying a car, or saving up for a house? 

Factor this in with the fact that, according to the latest study by Hiring Lab, the economic research arm of Indeed, the number of job postings requiring college degrees has fallen to just 17.8%, and you have to begin to wonder how long the gatekeeper to the American dream can last before the veritable emperor is shown to have no clothes.

Throw in the fact that, over the past five years, masses of Americans have finally begun waking up to the fact that a majority of colleges and universities have become dogmatic peddlers of values that are mostly anti-American and anti-Christian, and the emperor’s exposure accelerates. 

Like all systems that offer less value than they demand in return, it may take time, but the crumbling will happen. It is already happening. But with a system this big and this entangled in the American experience, it’s a slow burn. Over the last ten years, over 500 colleges and universities have closed their doors. That’s three times the number of closures in the previous decade.

The number one reason cited? The rising costs, with prospective students “re-evaluating” the value of a four year degree. These rising costs lead to rising debt, making many opt out.

If their way of life is to be protected, traditional colleges are going to have to do something to cut costs and do it fast. But with giant campuses and empty buildings, faculties with tenure and research responsibilities, large university centres and bowling alleys to attract students, the question is - can they?

This is why, at Excel, we built a model that allows for students to graduate debt free. They pay as they go and get credit for working in the marketplace and earning a wage alongside class time.

When our students graduate and enter “the real world”, they don’t consider their debt when thinking about getting married and having babies, buying a car, or saving for a house. They are unencumbered and set up to live purposeful, fulfilling lives. 

If we can do it, traditional colleges can too. But will they? Only time will tell.

‍Click here to make a donation towards college scholarships for our students to continue to graduate debt-free.