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.
Students face various challenges throughout their college career. Thus, the problems that students have can range from balance, new lifestyle, to financial problems. Therefore, finding a balance between being a student, possibly working, and keeping up with their social life is a necessity. Similarly, others are away from home for the first time thus, they have a new responsibility with being on their own and findings ways to deal with homesickness. Likewise, being exposed to new financial situations is yet another challenge college students will need to learn how to cope with.
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.
Unfortunately, when students ask for a loan, they do not have strategies to repay that debt, it is not their fault, but schools’ fault that have not taught financial literacy in their schools. Sadly, it seems ordinary to have a massive debt after we graduate from college, and therefore no one has acted to change this. Having a student loan is not the problem since it is not a liability, but an investment in your future. The problem of student loan is how long you keep them after college. Luckily, there are a few suggestions that if mastered through college, can make a huge difference in the debt.
Many people may argue that the financial burden of college is not worth it, yet paying for college teaches responsibility and accountability. There are many fields in the job industry that doesn’t require a college degree. However, when the facts are presented about why college is important it is very clear the the financial burden of college is worth it. A college education helps shapes the economy into a brighter future. Students who put in the time and effort with paying for college, they find a whole new world that opened up to them with job opportunities.
Student loans pose as a suitable way out of this issue as it provides a pathway for those of lower- or middle-class to pursue further education; however, this puts the individual in serious financial debt. The author effectively suggests that since the individuals who choose to pursue higher education will ultimately use that knowledge to help their society then society should realize the value of education and fund any associated costs. Everyone should have fair financial access to post-secondary education so that it is not deemed a “luxury good”. All individuals ultimately have the same cognitive competencies therefore one individual should not be restricted to certain “lower class” profession solely due to financial
This is something that many can relate to because they learned how to socialize or pay taxes through life, and not from school. Students can learn about money management, personal responsibility, effective communication, and time management by working at home for an allowance or at a part-time job. What kind of homework can teach you all of that?" (Everett). This is something that many can relate to because they learned how to socialize or pay taxes through life, and not from school.
Being away from home means students must take care of the financial burden on their own(Mcaleer,2015), but someone may lead their life in chaos by not managing their finances well. Firstly, they should set the amount of their purchase and set a list about money income and expense, then collect every receipts to help them record an account book. Consequently, students can posses a better plan for their money. Taking control of reactions is another vital step to manage the stress(Bradberry,2014). When students have problems about their financial issues, staying calm will help them to overcome these problems.
When people pay for college they find it really hard to pay off things like bills and debt. College is expensive, and the costs keep getting higher and more impossible to pay things every year. (The value of education, 42). Lastly, Every year, students find it hard to pay a lot of important needs when also paying for college. When people pay things like this they can’t afford it, they can’t buy other things, and they most likely can’t do what they want to
Learning to manage credit sooner rather than later holds big benefits. It seems as if getting a credit card is something that only adults should do. In reality, college students should be considered responsible enough to control a credit card. Credit card companies are not taking advantage of students and students should look into getting a credit a card because building credit early has its advantages, it can be a teaching tool, and being responsible with credit use can come with rewards. Firstly, having a credit card in college has many advantages.