Debt is important to the United States In “The pedagogy of Debt” Jeffery Williams discusses the harsh realities college students face after graduation. He talks about how even after 15 years of being out of grad school he still is currently paying back his debts. Not only is he paying back his schooling debts, but also his daughters current tuition. Debt is something we all face if we decide to expand our knowledge after high school by attending college. After reading Williams essay I have came to the conclusion that college is all about money. The education system is set up in a way to continuously make money. College is set up in a ripple affect when it comes to money, college students sign up for a life a debt from the start, and lastly …show more content…
College itself is expensive. The way universities continue to make money is by creating a ripple affect. In Williams essay he states “at 46 and fifteen years out of my grad school I still owe around 9,000….” Williams is one of many people who are facing college debt. When deciding to attend a university you are making a commitment to paying back a certain amount each month for numerous years after you receive your degree. During those years more responsibilities come into your everyday life. Williams stated, “ Now I also owe plus loans for my daughters undergraduate education.” The ripple affect of education is created through making students agree to pay back loans after graduation. However, after graduation everyone starts building their lives and gaining more responsibilities. Responsibilities for some people are children. 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
Click here to unlock this and over one million essaysShow More
Loans allow receiving a college education seem like a smoother process considering that such a hefty amount to pay is divided so that it can be paid for in moderation. Despite the fact that it’s split into many payments, it’s still a large quantity all in all so unless indebted students aim for high income jobs, there would many years of difficulty to come after college. For this reason, undergraduates make it their goal to go after jobs which would prevent them from being constantly pressured to pay off debt. Thus, student debt is both a crisis and a reason to encourage persistence towards greater ambitions (Hillman, 41). It is a tremendous thing when a student seeks to be financially comfortable or even rich in the future but not when it is for the wrong reasons.
Preston Harris 6/13/2023 ENGL 200 ZA Mrs. Martin Rough Draft You and I, as college students, probably keep up with the finances related to our higher education. Setting oneself up for success as a student is crucial, and this includes preparing for potential debt. The issue of student debt and what to do about our outstanding loans is causing a serious financial problem in the United States. After completing their studies, more than 65 percent of college graduates average $28,650 in loan debt.
Student debt is a heavy burden to face, not only for upcoming student graduates, but also those who already are retired or nearing retirement. In “Haunted by Student Debt Past Age 50,” an article by The New York Times Editorial Board, argues how people that are of age 50 or above are struggling to pay off their debt while at the same time the government is taking away their money from their Social Security check. They give us the insight what they think of the situation, and what they suggest the government do in order for the problem to be sooth out. The Editorial Board through the use of rhetorical appeals of Logos, Pathos, and Ethos, shows the audience how the student debtor’s are having difficulty paying student loans, as a consequence they create a propose solution in which the government should help people that are carrying that debt, even after they have graduated.
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. College debt is a large amount of money that a college student will have to pay back within a certain amount of years after graduating.
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.
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 Student Debt Crisis The look into college can be frightening these days. College seems to be an overwhelming topic because of the expenses. Over 50 million college students are in debt in America, collectively owing almost over 2 trillion dollars. The student debt in America is a serious problem for many young Americans trying to get a higher education and continue on with their lives as adults.
College debt can affect students for their whole lives. It affects the choices that they make every day. It also affects whether or not they should accept the first job that comes their way or if they can wait and get a job that they prefer. It also affects their living situations and they may have to live in an apartment with roommates for longer than they had originally planned. The effect of college debt has started to make people wonder if college is even worth it and if it is a good investment and value to
Students can't pay back loans for many years. Then, as a domino effect, there is more debt. Middle class parents , are caught in a tight web because they can afford college on paper but in reality, have no money left for retirement and receive no financial aid. The cost of college has escalated out of control and the cost of college grows faster than the rate of inflation. In order to cut the costs of my education, I plan to work part time and contribute some of my earnings to my education.
According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.
Many people dream of a life filled with riches, but that dream is hard to obtain without a college degree. It is somewhat ironic how people dream of being a successful student and going to college but the cost of tuition turns that dream into a horrible nightmare. It is not a shock to most people when they that college tuition is expensive, but in the past few years it has increased to an all-time high. Lower and middle class students have now begun to realize that college tuition is holding them away from their dreams. Even though college tuition could provide opportunities for job creation and economic growth, tuition is not affordable for the average American household which in effect, prohibits students from taking opportunities like going to college in the first place.
Many college graduates are facing unemployment, leaving students and parents to question if college is worth the cost. The answer is no. Student debt has significantly increased. “If you get this wrong, it’s actually a mistake that’s hard to undo for the rest of your life”(Peter Thiel co-founder of PayPal). Peter Thiel is explaining that today 's students are taking on much more debt, due to recently tightened bankruptcy laws that have made it more difficult to get out of debt.
The financial burdens that college leaves with the families and students needs to be addressed as student loans keep racking up over time. The cost of tuition for colleges has risen drastically over the years and has bounded students to only one or two college choices to choose from and at some points tearing away the opportunity to go to their dream college. However, one reason college has driven up in price is because the value it brings with it’s degrees, but it should not limit those who can not afford the worthy degree. College should be cheaper as it will ease financial burdens and broaden the choices of those wanting to attend
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.
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.