by Bryan Vermes

After years of skyrocketing government deficits and student debt, a plan to finally open the doorway to more accessible and reliable student aid deserves the support of Congress. Instead of bowing down to lobbyists and special interest groups, it’s about time that the federal government side with America’s future: its students.

With a nearly 10% annual tuition hike at most higher education institutions, the government cannot afford to bail out big business at the cost of forgetting common citizens and the country’s future. The banking industry has profited off the middle man for decades, and that system needs to be altered.

Change would save the taxpayers about $94 billion dollars over the next decade, paving the way for increases in government aid for student loans. Allowing more credit to flow, with reliable federal loans, opens the gates for higher graduation rates, more student opportunities, and increased economic competitiveness for the country. The United States used to hold the top spot for college graduation rates; it has now slipped all the way to seventh place, behind Japan and other major competitors. This decrease has been directly linked to the lack of affordability of American colleges and universities.

It’s time to take on big business, rather than sitting on the sidelines and letting them close the door on the American dream for millions. With higher education costs on the steady rise, the United States government should extend a hand to the future of this nation. Instead of bailing out big banks that have been linked to an economic catastrophe, we should help the students who perform well in school and who want to make a positive contribution to American society. To prevent a future meltdown, reform the student loan system. It’s about time that Congress proved they have the will to do it.