Many recent studies have debated that poverty is still a mass issue in today’s society and has been accustomed to many individuals' lives. In many instances, poverty affects many individuals at youth with the main reason being debt, which further affects individuals lives with many being unable to receive a sustainable start. In society, poverty has been found to have many components to it, and debt has been considered to be a prime factor in a poor financial situation. To thoroughly address the issue of poverty, it is crucial to examine what extent debt leads to poverty by analyzing financial assistance, and how it can be improved by viewing valued sources that are credited by many individuals. The problem that people in debt face is that …show more content…
He further claims that paying off debt is a component of “establishing personal responsibility” (HofferNew). Furthermore, HofferNew uses the perception of personal responsibility as a way to show that paying off said debt could help build independence. He believes in the idea of having some relief for college students considering debts are at an all time high, but he claims the idea of having it pardoned does not help students build independence and prepare them. He further believes a solution in having debt forgiven is to ensure students are required to perform public service in exchange for debt to be paid off. Likewise, he argues that this will benefit students more than just having debt paid off, but to also show the students they are “connected to a system beyond self-interest” (HoffnerNew). Implying that this will show students that colleges do not care mainly about the money and tuition. In addition, Westover and Obama’s articles both agree on the fact that an individual should have some form of assistance, but what differentiates the claims is that HoffnerNew believes that an individual has to work for it and not just receive help without giving back. He also agrees with receiving assistance, but his main goal is to ensure students payback the debt in some …show more content…
This possibly contributes to why individuals in that community cannot escape debt and find it hard to provide for. In a way to combat poverty, she states all people need to do is give back a little and provide for those in need whether it is volunteering or donating clothes and necessities. She further claims that it is important for the whole community to play a part in improving the situation. Anderson stresses the significance of how a once known hopeless area with poverty can turn into a community providing for each other, as long as they give back and help contribute. Another source that discusses the effects of poverty is “Poverty in Granbury ISD” in which the speaker Trisha Suit analyzes poverty levels in Granbury ISD and shares the statistics of many students who are living in poverty. She further explains that in Granbury ISD alone “53% of students currently live in poverty”, meaning half of the students do not receive the basic necessities they need (Suit). Not to mention, she explains that this only applies to students who have signed the free and reduced lunch from which means the number is possibly higher. As a solution, she believes every individual
04 Dec. 2016. In USA Today’s article by Sandra Block and Christine Dugas titled “Five Proposals to Solve $1 Trillion College Loan Crisis,” the authors mention five ways to solve the student debt crisis in America, illustrating things like Bankruptcy reform, loan forgiveness, increasing federal pell grants, and the education of borrowers. Evaluating this article, it provides an informative view on the solution of student debt, and overall expresses many different spectrums on ways we can solve this social problem. The five ways to solve this problems
With student loan debt on the rise across the United States of America, measures must be taken to address the issue of millions of Americans facing tens of thousands of dollars in debt immediately after finishing college. According to Robert Applebaum, a man that began a petition for the United States federal government to offer a one time deal of forgiving all student loans, to forgive these loans is a necessity and may prove to boost the economy. In Kayla Webley’s “Is Forgiving Student Loan Debt a Good Idea?”, the journalist and correspondent for Times magazine takes a long hard look at Applebaum’s proposal and just how forgiving the student loan debt is likely to play out. Throughout her article, Webley dissects the argument for forgiving
Her point is that if a student is struggling with debt they are not well off. So the burden would fall the taxpayers. Then she goes on to debunk the myth we hear and see on television or the internet. She states “As it turns out, the six-figure debts that we keep hearing about in the media are actually pretty unusual.
Student debt is the nightmare that many people live with on a daily basis. It is nearly ironic how people use education as a potential ticket that hopefully will bring financial stability, along with many other things, in the future; yet, people are graduating with high amounts of student debt under their name that take years to repay. Now that the nation’s student loan debt have surpassed 1.4 trillion dollars, policy-makers are extremely concerned. From 2008 to 2012, there was a .2 million increase of students graduating with debt, meaning that ever since, there are more than 1.3 million people with student debt (Student Loan Hero). I think that student loan debt is a problem in the United States.
Students with college debt often feel a sense of pressure and anxiety, fearing the judgment of other students and family members who may not understand what they are going through. Because of the impact on one’s mental health, students under this pressure may be led to making poor decisions and begin to lose hope for their lifelong goals and values. College students’ lives get torn apart by the burden of their debt and tend to feel ashamed of their low income families who could not afford their tuition. People from these low income families are more vulnerable as it is. It is probable for them to have a tougher time finding a steady source of income for themselves, causing them to feel even more overwhelmed and hopeless about paying off their loans.
Such as potential forgiveness from high power spots which would be seen to help a lot. Some political candidates and elected officials have advocated changes that would eliminate all student loan debt, while others would eliminate at least some of it. Advocates for student debt forgiveness think it will help the economy ("Student Debt Forgiveness"). Debt will potentially be forgiven to those that are in need of the help. Debt is being discussed to only be helped with for the ones who need it so that loans do not become too affordable, they might be ensured to be a payable and reasonable price for the payer.
Additionally, the benefits of debt relief would be significant, as it would stimulate the economy and give millions of Americans a fresh start. Conclusion In conclusion, the student loan debt crisis is a significant sociological problem that requires a comprehensive solution. The solution should include policy changes, financial education, and debt relief programs.
There is an action taken to help with the student loan debt that keeps affecting graduated students and the economy. According to Bassaline (2022), “Recently, President Biden started considering an executive order to do a loan forgiveness of student debt under 10,000 dollars” (para. 7). The loan forgiveness would help decrease people’s debt that they owe. Bassaline (2022) also says, “Overall, it will cost the government $321 billion dollars. If we were to have a 10,000 debt forgiveness of student debt, it would mean more spending for consumers, and there would be a boost of entrepreneurship” (para. 7).
Going to parties, out with friends, or money in case of emergency will always be a questioned thought due to one’s financial situation. Paying off debt is vital to one's credit score and ability to secure loans. While exploring the article, “Debt Burden after College” states, “The amount of debt a student accumulates by graduation can influence an array of decisions and experiences.” This quote means that the money due at the end of a student’s college years will not only influence but affect the rest of a student’s life. Choices such as what you want to do with your life and who you want to be in it can change
She is glad that, in Healy’s words, her son is irresponsible because he did not return home after college. Even though all these pieces approach the topic of debt in impressively different ways, they all have a similar string between them. These four pieces along with society today makes one believe that people are somewhat bottle necked into debt. The financial stability everyone wants is somewhat impossible for the common
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.
“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).
Forgiveness of Student Loan Debt On a global scale, there is a large amount of people who are unfortunate in the sense that they are all regrettably faced with the issue of the struggle to pay for a proper education. Seeing as those who struggle are unable to pay on the spot, whether it be because they are financially independent adolescents or their families have low financial income, a majority of said strugglers resort to applying for student loans. This allows them to receive an education for the time being, but it still must be paid for eventually. As a result, every student who takes a loan for schooling will be in debt until everything that has been borrowed is paid off.
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.
According to our author, poverty is neither cause nor effect. But maybe a proxy for an underlying social disease-specifically, inequality and economic segregation (Conley, 2015, pp. 374-376). In fact, there is an argument that poor people have adopted certain practices that differ from those of middle-class society in order to adapt to economic circumstances; also know as, culture of poverty. Throughout the reading, the author uses a real life example of how poverty can affect children, and ultimately their way of life up through adulthood.