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.
Luckily, there is a way to reduce student loans, and offer higher education to more people. The ferderal government has to take the tuition payment over, to enable higher education for more people. The tuition payment should be payed through taxes, so college students do not have to pay for their education at the moment of their studies. Basically, the working generations pays the education for the following. Consequently, once finished with college, graduates are going to pay the education for the next college students, and so forth.
An even larger majority -- 75% -- says college is too expensive for most Americans to afford. Similarly, a record of share of students are leaving college with a substantial debt burden, and among those who do, about half (48%) say that paying off that debt made it harder to pay other bills; a quarter say it has made it harder to buy a home (25%); and about a quarter say it has had an impact on their career choices (24%) -- (pewsocialtrends). This just simply shows that it is better that there are no more tuition in college in which will help lessen the percentage of people who suffers difficulty in paying debt. Although we know how great number of people contradicts in giving a free education for college students, it is one of the needs of students and will also be an ease for their parents. Along with this, President Obama made a proposal which offers two free years of community college where this proposal of the President had received lots of different positive and negative opinions, comments, and feedbacks from it.
Is College Worth the Cost ”If you get this wrong, it’s actually a mistake that’s hard to undo for the rest of your life.” (Wieder 2) Students spend on average $9,410 a year on instate college tuition and out of state is excessively more coming in at $23,890 a year. This merely covers the cost of tuition and even those costs are rising every year. Many students fall into debt trying to afford rising tuition and the cost of living, but is the price of the degree worth it? College is not worth the cost because it causes excessive debt, students do not graduate, and college degree does not guarantee learning or job preparation. A disturbing amount of students do not graduate college.
My second reasoning for changing the funding and time a person can use it is to make it more beneficial to those who have it. Obviously, the program isn’t for everyone and was meant for only the ones that needed the extra incentive and help for college. By limiting the amount of people using it to lower incomes and increasing the amount given has been shown to not only increase graduation rate but enrollment rates as well. Along with this putting a cap on it after four years is better in many ways. First this allows it to be able to more of an incentive to graduate on time for any given program.
If you are unable to afford college, then you should get loans in order to get your degree. You can pay these loans back and still have a better life and more money compared to the person that did not go or dropped out of college. These are the reasons for why students should not drop out of college. They should not drop out of college because college is the way to get their careers so they will have more job opportunities. If they stay in college, they will have more stability in the future since they will have more money.
Because a bachelor’s degree does not ensure a stable income anymore, this debt can be crippling and make a person even worse off than someone who did not attend college or someone who pursued an alternative form of higher education. After all, in the article “Plan B: Skip College”, Jacques Steinberg states that “of the 30 jobs projected to grow at the fastest rate over the next decade in the United States, only seven typically require a bachelor’s degree” (1). The quote illustrates the point that few people actually need to go to college to be successful, and only few areas actually require that level of expertise. This leads to the assumption that the only jobs that require a degree and are worth spending a great deal of money on, are the
“An important pathway to the middle class now runs through higher education, but rising costs are making it harder and harder for ordinary Americans to get the education they want and need” ( Sanders). Many student who’s families can not easily afford the cost of college often do not further their education after high school. Students that know that their family struggles with money already don’t want to ask for more so that they can go to college. As the cost of college has been on the rise many have talked about wanting to provide students with a free college education. Many bring up that the states grant their students with free public education till they complete the twelfth grade.
Buyers often have to overpay for a book itself, even though it may be only used for 2 of it’s pages in some cases (Satz, 28). Eventually, when students sell back those textbooks to the university, they only get less than half their money back in return. With these prices, and outrageous tuition and additional fees to the university, these young adults need as much money as they can
Programs the students are given are for their own individual choices for what they truly want to study but with many people coming in with free education most of those opportunities get taken away because they wouldn’t be able to handle all of it with the income colleges are getting from the federal funding. A different situation can be handled by making the people pay more taxes to pay for college tuitions but that would be changing 40k-50k a year to a starting point of 70 billion a year coming from the U.S. This will not be paying for the students financial aid on the government programs which also won’t show them (people attending college) to how to work their own financial aid work. Many can complain on how the government set up the way to pay for it but other countries such as Canada has done the same with their taxes but are benefited with free healthcare instead of free colleges and has made a big change on the government’s
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
This is a simple thing that could reduce the cost of college for students greatly. Another way to reduce the price of college is to give more need based loans and scholarships. Coles says that students who have the greatest need do not receive enough or any support for college. Many loans and scholarships that are given are merit-based, given to students who do well in high school, but may not actually need money to pay for college. If we can reduce these merit based loans we could increase the number of need-based loans and thus make college more affordable to the low-class families, who actually need help paying for
For example, in paragraph 7, Smith notes that education offers graduates opportunities for employment and the wherewithal to pay off debt “if they are wise stewards of that debt”. By using the word “if” in this idea, Smith qualifies his claim but weakens his argument. Throughout his piece, readers can see that the author has not looked at the topic from many angles or situations. By asserting that education as an investment, he leaves out the fact that there are many graduates being in unemployment and big student loan debt. Even though many years after graduating, many people who are having job still have a very hard time to pay off their student loan.