Debt is important to the United States In “The pedagogy of Debt” Jeffery Williams discusses the harsh realities college students face after graduation. He talks about how even after 15 years of being out of grad school he still is currently paying back his debts. Not only is he paying back his schooling debts, but also his daughters current tuition. Debt is something we all face if we decide to expand our knowledge after high school by attending college. After reading Williams essay I have came to the conclusion that college is all about money. The education system is set up in a way to continuously make money. College is set up in a ripple affect when it comes to money, college students sign up for a life a debt from the start, and lastly …show more content…
College itself is expensive. The way universities continue to make money is by creating a ripple affect. In Williams essay he states “at 46 and fifteen years out of my grad school I still owe around 9,000….” Williams is one of many people who are facing college debt. When deciding to attend a university you are making a commitment to paying back a certain amount each month for numerous years after you receive your degree. During those years more responsibilities come into your everyday life. Williams stated, “ Now I also owe plus loans for my daughters undergraduate education.” The ripple affect of education is created through making students agree to pay back loans after graduation. However, after graduation everyone starts building their lives and gaining more responsibilities. Responsibilities for some people are children. Children cost money to take care of, but so does their education. College graduates with children who are planning to attend college have to not only pay back their debts but their children’s schooling too. Once those children graduate then it starts the cycle over again. Moral of the story is that college is a ripple affect when it comes to money all because of the timing of debts being
Evaluating this article, it is very informative and helpful in helping one who is in debt to individually find a solution. This article, although not focused on the entirety of this social problem, demonstrates a perspective of solution for an individual. Comparing this article with the others, it relates to the article shown above, however; focuses more on how the individual can help their debt rather than how to solve the student debt crisis all throughout
“Generation Debt” by Alethea Spiridon is an argumentative essay that outlines the harsh reality of student loans. The author examines the consequences of student loans as well the reasons higher education should not come as an expense to the individual pursuing it. In the current job market a post-secondary degree is a prerequisite for almost any profession and the sad reality is that this costly degree is not a guarantee of future wealth. The author effectively explains why treating education like a luxury good can impoverish everyone, and outlines ways student debt can burden graduates’ lives. However, she fails to examine the reasons student loans can be advantageous, and this is problematic because there are several missing benefits including manageable reimbursement options, lower interest rates, as well as student friendly terms and conditions when compared to a standard loan.
Many college graduates are facing unemployment, leaving students and parents to question if college is worth the cost. The answer is no. Student debt has significantly increased. “If you get this wrong, it’s actually a mistake that’s hard to undo for the rest of your life”(Peter Thiel co-founder of PayPal). Peter Thiel is explaining that today 's students are taking on much more debt, due to recently tightened bankruptcy laws that have made it more difficult to get out of debt.
Student debt is a heavy burden to face, not only for upcoming student graduates, but also those who already are retired or nearing retirement. In “Haunted by Student Debt Past Age 50,” an article by The New York Times Editorial Board, argues how people that are of age 50 or above are struggling to pay off their debt while at the same time the government is taking away their money from their Social Security check. They give us the insight what they think of the situation, and what they suggest the government do in order for the problem to be sooth out. The Editorial Board through the use of rhetorical appeals of Logos, Pathos, and Ethos, shows the audience how the student debtor’s are having difficulty paying student loans, as a consequence they create a propose solution in which the government should help people that are carrying that debt, even after they have graduated.
When people think about college student?s financial status, they often think they are going to be broke from student loans. What most people do think about when it comes to college students is credit card debt. And if people do think about it, the students are often blamed for the debt because many people still think they are you kids who are irresponsible when It came to money. In the article, ? The Credit Card Company Made Me Do It? ?
According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.
Loans can quickly turn into a substantial amount of debt by the time a student completes their standard 4 year degree. As a result, this debt can carry on throughout their adult life and make starting that life more difficult. “A record share of students are leaving college with a
The Student Debt Crisis The look into college can be frightening these days. College seems to be an overwhelming topic because of the expenses. Over 50 million college students are in debt in America, collectively owing almost over 2 trillion dollars. The student debt in America is a serious problem for many young Americans trying to get a higher education and continue on with their lives as adults.
The Effect of College Debt on Students Many people take on debt to pay for college. This debt often affects the choices that students will make once they get out of college. Some manage to pay it off relatively quickly while others deal with college debt for the rest of their lives. Some may even manage to come out of college with zero debt, but that rarely happens.
The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.
Preston Harris 6/13/2023 ENGL 200 ZA Mrs. Martin Rough Draft You and I, as college students, probably keep up with the finances related to our higher education. Setting oneself up for success as a student is crucial, and this includes preparing for potential debt. The issue of student debt and what to do about our outstanding loans is causing a serious financial problem in the United States. After completing their studies, more than 65 percent of college graduates average $28,650 in loan debt.
The tuition and cost of college is detrimental to thousands of families across the country and brings student debt to future graduates. Some students have seen their debt climb over $30,000. Friedman writes, “The average student in the Class of 2016 has $37,172 in student loan debt…” (Friedman). With the debts being over the average income for single people households, college has transformed from a benefit to a burden. Young adults not only have to worry about their education but also paying for the next semester or years of college ahead of them.
Since tuition has risen 3 times higher the rate of inflation in the past 10 years, this increase a student’s chances of not being able to afford higher education and also gives them a better chance of accumulating debt post-graduation. Some people think that the college education they acquired did not fit the amount they paid for it, even if they pulled out loans or were an ideal candidate for a scholarship. This is a scary fact because higher education can determine if you thrive
Loans allow receiving a college education seem like a smoother process considering that such a hefty amount to pay is divided so that it can be paid for in moderation. Despite the fact that it’s split into many payments, it’s still a large quantity all in all so unless indebted students aim for high income jobs, there would many years of difficulty to come after college. For this reason, undergraduates make it their goal to go after jobs which would prevent them from being constantly pressured to pay off debt. Thus, student debt is both a crisis and a reason to encourage persistence towards greater ambitions (Hillman, 41). It is a tremendous thing when a student seeks to be financially comfortable or even rich in the future but not when it is for the wrong reasons.
Society often believes college is a necessary experience for a better future, but I argue that the future will not be any better when student debt becomes a part of life for those who follow that mainstream belief. Most parents often dream of the great colleges and universities that their children will get accepted into; however, they fail to think of the cost to attend those institutions. Financial aids! Financial aids! Yes there are financial aids that students can apply to lessen the student debt.