Policy Argumentative Essay: Student Loan Debt

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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. I don’t think that education should be free, but I do think that there should be a policy approach to helping people pay off their student loan debts in a reasonable way or time frame. People are accumulating high amounts of debt that is expected to be paid back in a limited amount of time. If the United States followed a path similar to …show more content…

The students are not expected to start paying back their loans until they have reached a certain amount of earnings. Dynarsk claims that, “yet while students borrow about as much as they do in the United States (30,000 Australian dollars, or about $20,000), the system works smoothly because borrowers pay nothing until their earnings reach about $40,000.”. The expectation is that hopefully by reaching the $40,000 threshold, they have gain some financial stability so, they can start pay off their student loans. In contrary to the U.S. where they expected you to pay off your loan in a short amount of time, soon after graduation. The United States isn’t thinking about how minimum wages compared to the high amounts of debt that has to be paid nor, the fact it can take time for some student find a stable job for the first couple of years after

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