Emergency Loan Need among Graduate Students Signals Debt Trends in Higher Education May Influence the Expansion of the U.S. Economy Long-term

Efosa C. Idemudia, Ralph Ferguson


This article proposes that the rising cost of graduate education and debt may suppress interest of domestic and international students in advanced education and impact the market economy.  There are three challenges indicated through emergency loan need increases that deter students from graduate education. First, intellectual and skills growth has been a path to wealth building with the cost of education modest and not a potential lifetime debt.  Second, Responsibility Centered Management (RCM), galvanized due to reduction of state and federal funds to support education, may have the detrimental effect of exponentially increasing tuition and fees to maintain programs, staff, and faculty.  Third, the phenomena of Nonomics evolve where the student invests the sweat equity to achieve the credentials, but lifestyle enrichment is deferred ten to twenty years due to education cost.

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