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Argumentative Essay On Student Debt

1458 Words6 Pages

“Today, 45 million people collectively owe nearly $1.7 trillion in student loan debt. Every 26 seconds, one of those student loan borrowers defaults on their loan” (The Student Borrower Protection Agency). These are terrifying numbers that affect everyone not just individual debtors. Student debt is a ripple effect that will affect generations to come. Such problems become even worse for individuals; “these are ‘kitchen table’ financial issues that affect every aspect of their lives” (The Student Borrower Protection Agency). These issues have been a problem since the 1950s with no true solution having been put into work yet. However, hope survives as experts are still working on fixes today, including President Biden, U.S. Senators, and economy experts.

Student debt has not always been a problem within the United States. In fact, as CNN explains in their article “How Student Loan Debt Became a Trillion-dollar Problem for Americans”, Student loans did not even exist until 1958 when the National Student Loan program was introduced during the Cold War. These loans were created under the National …show more content…

This act influences the debtors as well as the loans themselves, which bridges the other two solutions together and covers more issues. I believe that education can significantly help prevent any future problems and this act would make sure to educate all possible debtors. As well as education, something must be done about the debts now, which is outlined in the fourth bill of this act when it states that lenders must use one of two repayment plans. Overall, this solution is not only one of the stronger ones but also the most likely to come to pass. President Biden’s plan was terminated by the Supreme Court on June 30, 2023, and Laurence Kotlikoff’s theories do not have the influential backing needed to bring it to

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