Wage-Price Gap Solution Project Toni Costa

PROBLEM : WHEN PRICES OF GOODS AND SERVICES INCREASE, AND WAGES DO NOT KEEP UP, PEOPLE RELY ON DEBT.
SOLUTION : MY SOLUTION WOULD BE TO TARGET COLLEGES, SPECIFICALLY STUDENT LOAN DEBT
WHY? : 20.5 MILLION STUDENTS OUT OF HIGH SCHOOL ATTEND COLLEGE. AMERICANS OWE $1.3 TRILLION IN STUDENT LOAN DEBT. THE AVERAGE FOR THE CLASS OF 2016 GRADUATE INDIVIDUAL HAS $37,172 IN STUDENT LOAN DEBT. THIS IS A 6% INCREASE FROM LAST YEAR.
METHOD : I WOULD CREATE PRICE CEILINGS ON COLLEGE TUITION. ALL PRIVATE COLLEGES WOULD HAVE A CEILING OF $29,000. ALL PUBLIC COLLEGES FOR OUT OF STATE RESIDENTS WOULD HAVE A CEILING OF $20,000. AND ALL INSTATE PUBLIC COLLEGES WOULD HAVE A CEILING OF $6,000. REDUCING THE AVERAGE BY $3,000.
EFFECTS : THE EFFECTS OF PRICE CEILINGS WOULD MAKE COLLEGE MORE AFFORDABLE FOR STUDENTS AND WOULDN'T BE AS DIFFICULT PAYING OFF STUDENTS LOANS AFTER COLLEGE. THIS PROVIDES WIDESPREAD RELIEF FOR FUTURE GENERATIONS OF STUDENTS.
DANGERS : THE MAIN CONCERN WHEN PUTTING A PRICE CEILING ON ANYTHING IS CREATING A SHORTAGE, LEADING TO A BLACK MARKET. HOWEVER, YOU CANNOT HAVE A SHORTAGE OR BLACK MARKET OF COLLEGE, IT IS IMPOSSIBLE.
I BELIEVE THE ADVANTAGES OF PRICE CEILINGS OFF SET THE DISADVANTAGES BECAUSE IT WOULD PROVIDE RELIEF FOR A WIDESPREAD OF FUTURE GENERATION OF AMERICAN STUDENTS, ULTIMATELY EASING THE WAGE-PRICE GAP PROBLEM.

Credits:

Created with images by TBIT - "dollar bank note money" • Cynthinee - "Pepperdine University, Payson Library" • Sean MacEntee - "smemon stats" • Luca Venturi Oslo - "Black glass of water" • An Nguyen Photography - "Help Me Dull the Pain" • ElasticComputeFarm - "bandage first-aid medical" • neiljs - "Butterfly"

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