Generation Debt Summary

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.

Young college students are taking longer to finish school while choosing to wait longer to start a family. Nathan Harden article Peter Goes to College states “Today’s college students are a lot like Peter Pan—they are in no hurry to grow up”( Harden, 257) He argues that many college students are affected by “hook up culture ” struggling to commit to relationships and career choices. Like Peter Pan, many college students are taking longer to “grow up ” and are no longer considering marriage as an option. Many college students face social pressure to prioritize career development over relationships.

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. Out of all the possible reasons to drop out of college, “the No. 1 reason many young adults drop out of college is an inability to juggle school and work” (Johnson). Finishing college is the most decisive forecaster of prosperity in the workforce and the inconsistency in college completion between children of rich and poor families duplicated since the late 1980s (McGlynn 55).

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 institute of for college assistance and success did research on college student debt. The average debt of graduating college seniors with student loans is $29,400 (Average Student Loan Debt). Julian Berman a reporter for market watch did an article “What’s really causing student debt crisis, according to Sheila Bair. The national student debt of young adults is approximately $1.4 trillion (Jillian Berman). Max Lewontin writer for Christian Science Monitor discusses this topic in his article, How the Presidential Candidates Would Tackle Student Debt.

Parents play a big role in their child’s lives because they provide a sense of direction for them. It is natural for a child to look up to his/her mom or dad. If a young adult doesn’t have the help from their parents who have already experienced college then they are already behind the kids who are able to use their parents as a resource. A quote by Nijay Williams in the article says, “My mom stopped school in the ninth grade; my dad stopped in the fourth grade … It makes it harder for me, [and] most of the people I graduated with are not in college, but that’s what I see myself doing; I want to go to college.

College takes around 4 years for most, sometimes more, and those years could be years of making money. Years spent in college could be years spent racking up debt for a future that will never exist. A multitude of college graduates don’t actually have a career in the field that they majored in, but still end up in service jobs. Consequently, 57% of 18 to 34 year olds who are not in school and don’t have a bachelor 's degree say they prefer to work and make money rather than go to school (Source F). These high school graduates do not desire to collect debt during their prime working years and would rather find work using their hands.

Unsettled student loans exceeded $1-trillion last year, surpassing the total amount of credit card, auto loan and home-equity debt in America. While most agree that college student debt is a major dilemma, there is little accordance on precisely how to fix it. Though increase in tuition costs has slowed in recent years, what students actually pay in the end is still on the rise. Possible solutions are being offered by government officials and educational advisors, however there is still no clear cut solution to the crisis. As more and more students take out college loans and fewer graduates are able to secure jobs upon college completion, many are faced with the challenge of starting off their lives in crippling debt.

Many of the youth desire to further their education but no support, no health insurance, and no independent living skills. Imagine it’s your 18th birthday. You have been told that you have to move out of your house. You do not own anything,

College Isn’t for Everyone "By telling all young people that they should go to college no matter what, we are actually doing some of them a disservice" (Owen). This quote from “Brookings Paper: Is College a Good Investment” goes into detail about how college isn’t for everyone. By educators, parents, and authority figures telling graduating high school seniors that college is necessary, they are limiting the potential of that student’s true skills. College isn’t right for everyone and not everyone wants to go to college.

Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million borrowers (U.S. Student Loan Debt…). This is a very problematic topic in the U.S. today that needs to be solved with a carefully thought out analyzed plan. It is unnecessary for one to be in debt from schooling just to get a job to make money. College is supposed to help give a job that pays enough money to be financially stable and make monthly payments for student loans not put people in debt from paying so much money back.

In Botstein 's article Let Teenagers Try Adulthood he explains how high schoolers are not in the “real world” “They could then enter the real world, the world of work or national service, in which they would take a place of responsibility alongside other adults in mixed company.” Botstein also states that we need to graduate at the age of 16 now to

Thus, restricting those scholars to what is an utmost important by making them stay in school for over the age of 18 will become a hinderance to their daily lives outside of class. Governments had decided upon a

At the same time, they also learn about developing work ethics and value for money. That is no longer the case. In order to earn enough to pay for college, kids and teenagers have to pay twice the hours than previously. The work hours has doubled, and according to Time, times have really changed.

As a demonstration, author Swenson, a journalist from Us Today, states that “Student knows at 16 that he won’t have the resources to finance higher education, or if his community does not value higher education, a high school diploma by default of his birthday is unlikely to convince him to work hard and go to college.” (Swenson). This quote explains that high school students at the age of 16 knowing that they won’t go to college due to his culture/community that they don’t support higher education. Even if they give a high school diploma at birth that still won't convince to work hard and make it into college. This support my claim because some kids drop out before they graduate high school/ some only go for the high school diploma and don’t try to reach the higher education.