Improving certain aspects of community colleges will ensure the graduation of more students. The cost of community colleges needs to be lowered in order for more students to reach their full potential. Expensive tuition is the one of the top contributors to students giving up on college. Whether it be because of an unfortunate situation or other responsibilities, a large majority of these young adults do not have enough money to reach graduation. When these students run out of money they come to a point where they have no other option.
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.
Although people may argue that a person can take care of the debt faster the person may not have the ability to do so. Some colleges are charging the tuition price of a big name college when they are not as well known and the degree may not go very far. Recently students are (taking on more debt) than they can pay and end up not being able to pay them off (Hacker and Schlesinger). When students graduate college most of them will have debt that they have to pay and many of them can’t pay it off. In highschool people and teachers stress that students need to go to college and it can (cause a sense of panic) in the highschool students (crawford).
For example, many families take their whole life savings out of the bank in an effort to pay for their children’s college. Doing so causes an immense amount of financial stress. Nevertheless, for some families this is still not enough. On the contrary, finding another job that will support them is often far more difficult for those who do not complete college. These levels of stress can take over a person’s life, causing them to lose their drive and focus, which affects their future further.
The nation's financial aid system currently fails to provide an equal opportunity to everyone qualified. with high amounts of student loan debts has been shown to reduce a person's chances of owning a home, getting married, having children, and accumulating wealth. The earnings for a full time minimum wage worker is $15,080 at the federal minimum wage of $7.25. Full-time work means working 2,080 hours each year, which is 40 hours each week. A better educated population could result in smarter decision making at every level of society, which could lead to
Furthermore, college dropouts should also expect lower incomes. It is true that years of experience might give a push to any person who seeks a job, but a college degree has become a major requirement before the experience. Therefore, this would make a difference in the incomes these people gain. According to a slideshow published on prezi.com by Sueisy Membrila under the title of "College Dropouts", the 2012 US Bureau of Labor Statistics data states that "a college dropout earned about seven percent less than someone with an associate 's degree, and about 32 percent less than someone with a bachelor 's" ("College Dropouts", slide 18). As a result, a dropout student would be in a more complex situation in future years when a family and children become his or her dependents.
Although debt is a bad thing, it is not unavoidable for everyone. People will fall into debt because not everyone has a solid financial backing. More than seventy-one percent of students graduating from a four year college are graduating with debt (A Look at...) . Setting a cap would cutthat percent far down so the students would have a chance to break even with the income they receive after college. Because there is no student loan debt cap, colleges take advantage of this or they set the cap very high so the students will keep having to pay the college for years.
Student debt is one of the biggest issues that people are struggling with. Especially for those graduates whose major does not guarantee a stable job due to the limited amount of job positions, such as art history and music majors, many of them end up being a freelancer because job unavailability. Governments often encourage the citizens to spend more and help improve the economy, but how could the citizens help when they don’t have the spending power due to the heavy student debt that they are carrying. A good way to improve the economy is by solving the issue of student debt. With the help of the “Organ for Ed” program, both the job seeking and economic problems would dissolve at once.
To get through college, it's an obligation to be motivated to do your work to graduate. A great deal of students do not have the motivation to go to college right after high school. The reason for that is because a great deal of high school students are ready to graduate and be done with school, forever. Students often would like to experience other things than school. College is a massive financial commitment for a post high school graduate.
College is not for everyone, people can go and end up in debt because some people simply don’t need it. Many graduates can’t find jobs and they question why? The reason being is because it does not guarantee you a job. Moreover, blue collared jobs are equal to having your degree. The issue is that people need to get informed and look for pick their future
Without these numerous factors that vary vastly among different colleges and universities one simply may not assume every student that finances a loan goes into long term debt. College admission may be a hard decision when it comes down to price. Many other students fail to attend their dream school due to the financial struggle. Ultimately there are students that pay the full price for admission no matter what the cost just to attend their dream school. To many students college is worth the price for admission.
Drowning in Debt: What are the Consequences of Student Loan Debt in the U.S.? Student loan debt has a big impact on students decisions, student debt influences a lot on how they spend their money. American Student Assistance (ASA) recently made a survey, with this survey they found out that the Students with loan debt are postponing important decisions in their lives. Many of the students that participated in the survey are waiting to buy a home, get married, have children, save for retirement, and some of them haven’t been able to enter the career field that they wanted all because of their debt. Student loans were created to help out students who want to go to college by giving them money that has to be paid back.
To continue, keeping a job and saving that money for college debt could help drastically. Working while in high school before college will help create a small pile of cash that will be a savior when debt is at it’s highest. And while working just saving a small portion of a check over time will stack up more and more without a thought and at the moment it is needed the cash will be a huge savior. In the article on page 13 it states, “The Journal of Student Financial Aid found that college students who were employed actually had a slightly higher average GPA.” so obviously having a job will not only benefit any money problems but also help with being academically adequate. However, when having a job may help with college debt it is also important to recognize that it does not help entirely when work starts to become more of a priority over school.
Financial Aid is helping her lower her tuition money, but however will soon graduate with a large amount of student-loan debt, which is a college student’s worst nightmare! Even with the loans, financial-aid package and assistance from his/her parents, not having a job is not the option. Being paid with the federal minimum wage that is currently $7.25 per hour is not very amusing to most college students. Not only tuition is the only
As a capitalist country, most of our American goods are processed in other countries because the labor force is cheaper. This leaves American citizens with less jobs, more competition, and less money for spending on goods necessary to maintain a lifestyle that of the middle class. Thus, if one is eligible for loans and credit cards, debt will be inevitable. Debt must begin somewhere in our lives and where else would it begin other than when we are students? Students obtain debt early