Financial Inequality In America

According to Storms, the core problem for graduating college students is debt. In the article, Storms explains how we are told that having a bachelor’s degree will double a person 's earning. Even though this may or may not be true, there is still the fear of paying back student loans after graduation. It is obvious that not every degree is guaranteed a job straight out of college in the field one chooses. Storms also gives the story of his family using the fear of debt as an excuse to not to go to college.

Being the youngest of four children it has been interesting to see the outcome of what college and the debt that build up tend to do to people. Students are creating huge amount of debt trying to get a degree so that they can have a job and life after college. But the real question people have to ask themselves is that is college worth it? To build up an amount of debt that has you working in your late fifties just to pay off the debt from college to get “started on your” life? College is not worth the cost due to a much raised price teachers and education, as well as uninsured job security.

Most students receive some type of loan to pay for college. CNNMoney reports, “Thanks to climbing tuition and inadequate college savings, 40 million Americans now have at least one outstanding student

Paying for the first two years of college leads to more debt for not only yourself, but the college that you choose as well. In America, 70% of college students are in debt. To be more specific we are currently $1.2 trillion in student debt. The reason being is because college is just simply to expensive.

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

One reason that has been a source of major concern for many years, which is the increasing level of debt that students are being left with after completion of a four year degree. Community colleges are an affordable alternative for many socioeconomically underprivileged students who want to earn a bachelor’s degree or higher, which leads us to our next reason. Low income and under-represented minority students are transferring or obtaining degrees at low rates, there are many inequities in educational attainment that still exist. Another reason that has concerned our politicians is the lack of Bachelor’s degrees that are being granted nationwide, we are lagging behind other countries in this area.

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

There is a huge debate on rather or not attending college is worth the money . Yes, college is very expensive. 69% of college students has to take out loans and are in debt. The average college student is about $28,400 in loan debt. According to Consumer Report, if a student drops out, or graduates and is either unemployed or underemployed, it may be next to impossible to pay back student loans.

According to studies , “college costs had risen 500 percent since 1985, while the overall consumer price index rose by 115 percent.” These shocking transformations take a possible attempt at college out of the picture for students that don 't have wealthy families or scholarships to depend on for their time being at the college or university. The cost of the modern world can not be afforded by everyone that even want to make an effort to do so. Debt will be a critical stop to spending and maintaining money while in college or after college. (alternet.org)

In 1965, President Lyndon B, Johnson signed the Higher Education Act. The legislation, as a part of his Great Society plan, had the purpose of lessening the divide between rich and poor Americans by providing more support and financial resources through student loans to lower-income students pursuing a higher education. Unfortunately, more than fifty years later, that divide continues to grow.

With the deterioration of income inequality, intergenerational mobility has been exasperated over time. In most cases, individuals from a disadvantaged family encounter barriers while pursuing their goals, and the American Dream is not a reality for everyone. Undoubtedly, it is possible for each individual to achieve their dreams, but it is impossible for everyone to attain their goals by the same amount of effort. In our society, some people are having abundant wealth and social resource whereas the rest is lacking of social and financial resources.

That all men are created equal is indisputably a core tenant of the United States, appearing centrally in the Declaration of Independence. Immediately following this decree in that founding document is the compound statement that certain unalienable rights apply to these equal men. Since the founding days of the United States, this has been interpreted to mean a variety of things, but almost always boils down to what modern politicians and political commentators would title “equal opportunity.” Traditionally throughout American history and typically today, this translates into a belief in hard work as a determinant for success, rather than intervention of circumstances at birth. The United States frequently expresses this commitment to the pursuit of equal opportunity for economic and social mobility based on hard work.