2024-05-07T22:49:14-04:00 https://archinect.com/features/article/112509888/the-state-of-debt-and-the-price-of-architecture Nicholas Korody 2014-11-03T10:14:00-05:00 >2022-08-29T13:31:07-04:00 <img src="https://archinect.gumlet.io/uploads/a3/a3scyx4yprxjoikp.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>In the United States, around <a href="http://www.huffingtonpost.com/kyle-mccarthy/10-fun-facts-about-student-loan-debt_b_4639044.html" target="_blank">40 million people</a> currently hold student debt. This is a population that is greater than that of many countries. While, over the last 14 years, the average salary for young people has decreased by <a href="http://www.huffingtonpost.com/kyle-mccarthy/10-fun-facts-about-student-loan-debt_b_4639044.html" target="_blank">10%</a>, student debt has increased by nearly <a href="http://www.huffingtonpost.com/kyle-mccarthy/10-fun-facts-about-student-loan-debt_b_4639044.html" target="_blank">500%</a>. &nbsp;For most Americans, to become educated means to take on a relationship with banks that will last for years. But for young American architects the situation is even worse; the amount of schooling required to be able to practice professionally means taking on debt that you may be paying off for the rest of your life.</p>