College Essay On Student Debt

In this day and age, it is assumed that the majority of high school graduates will be attending college, whether a two year community college or a four year college or university. The problem with this expectation of young people is that college is expensive, which is why numerous people are pushing towards free college for all, not just for the academically talented. While overall publicly funded college is unrealistic, this country could slowly overcome this issue of college debt by providing more two year community colleges across the nation with the tuition of these community colleges drastically reduced.

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. Yet the amounts of financial aid they receive are generally never enough for most students, and they continue to carry the debt for most of their miserable life.

Currently, the U.S. has accumulated roughly one trillion dollars worth of debt from student loans. (cite) But, what if student debt was forgiven overnight? Now if student debt was eliminated all at once it would be an enormous expense for private lenders and the federal government. Yet, people continually suggest the dissolution of student loans with a one-time payment plan from the government. This notion seems politically appealing for those on the left wing side of the argument, but overall no one wants to accumulate debt. Many of the young progressive college students and graduates would love for their student debt to dissipate. Student debt has become a crushing and often unavoidable generational crisis. But why not just forgive all that

So many successful adults till this day are paying back their college debts. Over the years, some are able to pay back their debts in college and others are not able to and are still struggling, due to having to pay other debts that they may have. In some cases, some people drop out of college just so they will not have to owe so much money, but to drop out for that reason is not good. There are several of ways to stay away from college debt and that is getting scholarships, saving money before going into college, and also attending a community college instead of jumping to a university.

Most of my friends who are currently in college have between 5000$-20.000$ in federal and private loans. In many cases, besides for the loans, students have to work and study at the same time, which results in a stressful life for the student. In fact, many students are not able to finish their education because, since they can’t afford it, they have to work over their studies.

One of the reasons i believe that college isn’t worth it is because of student loans and debt. Between 2003 and 2012 the number of 25 year olds with student debt increased from 25% to 43% and their average loan balance was 20,326. While some thrive in college, some fail due to stress to succeed while trying to figure out how to pay for their college education. Student debt has surpassed the trillion dollar line and more than 850,000 student loans were in default.

In 2014, just a bit over 70% of college students graduate with $33,000 in student loans. This number is staggering and why student loan debt has become such a hot topic of debate in the United States. In the meantime I think we, as students need to be a little more involved in our future and the college process rather than placing the burden and stress solely on our parents. There are various things I can do to reduce my student loan debt and avoid the stresses after I graduate college.

Although debt is a bad thing, it is not unavoidable for everyone. People will fall into debt because not everyone has a solid financial backing. More than seventy-one percent of students graduating from a four year college are graduating with debt (A Look at...) . Setting a cap would cutthat percent far down so the students would have a chance to break even with the income they receive after college. Because there is no student loan debt cap, colleges take advantage of this or they set the cap very high so the students will keep having to pay the college for years. “One reason graduate school debt has grown is that students have nearly unlimited borrowing capability from federal programs — with few credit checks or examinations of ability to repay…” (The Washington Post). Students use the loans unknowing what pay they will get from their future job. By setting a student loan cap, students would take less of a risk with coming back from

Just how awful has the student loan strain become? Rhetoric of crisis influences the present popular discourse, while very few voices call for tranquil, noting the average number of student indebtedness is approximately equal to the cost of a new car. concealed by the aspect and attention captured headlines, though, it is a more embarrassing picture exposing that all classes and groups of students will not bear the increasing debt hardship equally: women, students of color, and Low-income household students are more greatly affected by this escalated debt. I have currently revealed the 30,000 dollars is the typical amount of debt that students will acquire after attending college for four years. Though the cost of college is increasing, a variety

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. The cost for colleges must go down so students will not be

I hereby say that student loans is something that should not be dragging educated people down. We cannot allow the for-profit colleges and the banks to follow behind students and collect their wealth. “Everyone deserves a quality education. We need to come up with a better way to provide it than debt and default”(Taylor). Education should not vanish. It’s something that young people want to pursue in. However, debts should be completely vanished. One idea to make this accomplished is by promoting public colleges or by regulating the private ones. In a piece of writing called A Strike Against Student Debt, it states,“We also need to bring back the option of a public, tuition-free college education once represented by institutions

a similar group in 2010, found more college correlated with less dementia” (Belluck). This shows that college can have a beneficial impact for mental health. By going to college, a person is less likely to live an unhealthy lifestyle, and may keep their cognitive health for longer.

“Of the starting 65 percent who face debt, the average they owe is around $20,000. That’s just below the starting price of a 2009 Ford Escape,” stated by Robin Wilson in his essay, A Lifetime of Student Debt? Not Likely, means that many college students are taking loans that are so large to the point it can take the place of a brand new truck (257). Then, the question should be asked, what makes a student pay this much to go to a school? What makes these teachings from these so-called wealthy professors different from an online website that will give you the same answers for free? This is because in order for students to go forward and pursue a career, they will have to face the challenges that college funds will give them. That is even if that means that they are thousands of dollars in debt.

Student loan debt loads have been spiraling, doubling over the last decade, and the enrollment rates of young people from lower socio-economic groups are rising far slower than middle and upper groups. Governments must recognize the renewed public investment in post secondary education is an economic and social imperative. 6.7 million borrowers in repayment mode are delinquent (Snider 1). The sad fact is that many lenders aren't exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans can't be discharged in bankruptcy. Forgiveness programs can be lifesavers for borrowers drowning in student loan debt (Snider 1). However, jobs for recent grads are harder to find and salaries are lower, but that won't last forever; in spite of all of this, the data make clear that getting a college education is still a good idea. College graduates earn more and are more likely to have a job in the first place, and is especially important for some Americans (Webley 2). According to the Bureau of Labor Statistics in 2010, the unemployment rate was 9.2 percent for those with only some college and more than 10 percent for those with just a high school degree, but it was 5.4 percent