“The dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to his ability or achievement (Adams 1).” A 2002 study found that 17% of student loan borrowers reported their loans had a significant impact on their career plans.13 Today, after the economic downturn, ASA’s survey suggests that number has nearly doubled, as 30% of respondents said their student loan debt was a deciding factor or had considerable impact on their choice of career. In addition, 52% said they either strongly or somewhat agreed with the statement that their “need to pay student loan debt is hampering my ability to further my career.” One ASA survey respondent commented, “I need to have two jobs because of my student debt, and I cannot take employment opportunities that will not make enough money, regardless of the potential that they may have in the future (American student assistance 5).” Relates to definition because they need to have 2 jobs to be able to pay off student debt.
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.
Argumentative Essay: Embracing College Debt "By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good paying job" (Pocan, 2016). High school seniors advance into college with little income and no knowledge of managing large expenses. Although college incurs significant debt, it has positive lifelong benefits such as a better job, higher salary with benefits, and obtaining an opportunity for a fuller life. College graduates tend to have better employment opportunities.
In the article “Debt Education: Bad for the Young, Bad for America”, Jeffrey J. Williams explains the damage student debt causes past and present college students. Williams argued that more than half of the college students and their families are in debt from having to make such large payments toward the rising costs of colleges. Though, Williams also states a higher degree or education will lead to a high income and all around better jobs, the risk of being unemployed after college is too great. This is considered to be good for individuals, as it will maximize their economic potential. It is also good for society as a whole as people are getting better education, and rising to greater expectations in the world. Williams mentions the opportunity
The phrase “education being worth it no matter the cost” has been drilled into students as well as their families. This has led to student loans eclipsing a total of $1 billion every year, and in total reaches more than $1 trillion. While most loans don’t have to be paid off until after graduation, many students aren’t able to find jobs to subsidize the loan payments once they have
In today’s society we regularly hear about the high tuition universities and colleges are demanding. In the span of one generation, how is it that graduating students are still unemployed? Could they be unknowingly causing a plummet and stagnating the economy? Tuition for both public and private colleges has tripled in the last four decades. We are living in an era where families are paying as much as six figures for their children’s higher education. The inquiry students and families are making is if higher education worth the price, time and investment? By focusing on student debt the author overlooks a deeper problem that has to do with how much students need to reciprocate once their education is finished.
According to Anya Kamenetz in the article “Generation Debt,” young people of today are struggling with high debt due to high educational finances and this is preventing them to move on as responsible adults. College tuitions are too high to pay that young people fall into applying for student loans, and have significant credit card debt with high balances. Most students are using their credit cards to pay for their college expenses and student loans; even their paychecks are being used to pay for college. I agree that many young people held back in becoming a full adult which they are doing everything they can just to continue their education. Even if it means to continue living at home with parents just to make ends meets and not being able to step in the “fully adulthood.”
It seems that debt has become a norm in today’s society; people do not flinch at the sound of the word or attempt everything in their power to not succumb to it. When debt was a feared concept, people ran away from it. However today it seems that people are somewhat forced into a life of debt. The piece by Margeret Atwood, “Debtor’s Prism” is one about how the idea of debt has been deeply woven into our literature, social structure, and culture. Since the recession began in late 2007, Atwood takes a unique perspective of the history behind debt and the meaning of having been pawned.
Our whole lives our parents told us that we need to go to college to be successful. They told us that college would insure us a great life, but for many, that isn’t the case. Many students go to college hoping to get a degree, but many drop out due to insufficient funds. While for some, college might be the right choice, that doesn’t mean that college is for all of us. One of the reasons i believe that college isn’t worth it is because of student loans and debt.
College debt is developing into an immense issue in the United States with about 1.3 trillion dollars worth of college debt across the country in 2015, which is about a 39% increase since 2011 (Redd, 2016; Goldrick-Rab and Kendall, 2014). This debt is not just piled on a small portion of people; according to Redd, “about 10 million college students took out student loans” in the 2012-2013 school year (2016). The average tuition at in
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
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? ? The Credit Card Industry?s Role in Causing Student Debt, author, Carlos Macias, warns his audience that credit card companies will try anything and everything to get students to own a credit card from their company. Macias states that college students have a huge target on their back when it comes to credit
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.
Student loans can be helpful, but when it's time to pay back, it can lead to future mental struggles and be stressful and hold you back from living the life you want to live in the long run. The student loan debt crisis in now only taking a huge toll on the personal lives of many Americans, but on the economy as well. Whether or not students graduate or not, if they pulled out student loans worth $200,000 they remain in debt for a remainder of years. As the problem continues to grow it becomes more and more critical to find a solution to help the well being of everyone in the nation, student or
Going to college is similar to going to the casino, in the sense that many people are told they should be willing to take a loss for a possible win in the end. In his essay “It’s Time to End Tuition,” Jon Wiener tackles the problem we have in America in which students incur massive amounts of debt as a result of attending college. He is successful in painting a picture for his audience with an analogy describing how many people attending college in pursuit of higher education end up owing “more on their student loans than they do on their credit cards” (Wiener). In order to stop student loan debt problems in America we should provide more opportunities for individuals who desire more education by making tuition at public colleges free which