Why College Is So Expensive In America

College in the United States is expensive. The cost of higher education just keeps going up. Tuition costs at both public and private universities have doubled since the late 80s, while accounting for inflation.

"I think that it's so ingrained in your head that you have to go to college, that college is the next step after graduation," said Jarret Freeman, a college graduate with roughly $50,000 in student debt. "I think in hindsight, I see that college is not for everyone."

But a college education is becoming more and more necessary to succeed in today's economy. Georgetown University estimates that by 2020, 65 percent of all jobs will require more than a high school degree.

Students graduate with an average of $37,172 in student loan debt. It all adds up to $1.5 trillion across the country.

Watch the video above to learn how higher education became big business, hear from former students facing mounting debt and explore why it's so important to solve the student debt crisis.» Subscribe to CNBC:

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Why College Is So Expensive In America

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