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.
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.
The moment a person enters college, they find themselves stranded in a financial vacuum called student debt. The typical American making an average salary struggles to keep up with their student debt. Getting a job straight out of college is not a common opportunity anymore. Meanwhile whether a person is employed or not, loans start to become due shortly after they receive their degree. With loans underway and no job to pay the bills, this causes great stress on the individual and their family.
My vision of America is that the school system would change, things would be more expensive, and the people in poverty will decrease. In the future, America will probably change the academic system. My vision is that they will have made the school days shorter and less homework. Kids go to school 7 hours a day, some kids even have sports practice after school which leaves no time for them to go home and do homework, chores, and have family time. This affects their grades because when they get home they are busy with all their homework and chores, so they probably don’t do their homework.
For many people, college is an important key for their future. Some people go to college for the job opportunities and the new windows it can open. Others go just for the education and experience. A good education is beneficial from many different viewpoints; in truth, it is a possibility that one's adult life could be much harder than people care to think. One can have better wealth, is less likely to be unemployed, and a much higher chance of being closer to your family.
Families, who have their own issues, now need to confront the challenges of concocting cash that they scarcely have all together for their child to get instruction at a college institution. Student loan debt is common and is anticipated for undergraduates to seek higher education subsequent to graduating from their high school. College tuition costs are soaring, and a majority of undergraduates experience issues paying for their educational costs. To pay for their college expenses, most students require loans and toward the end of four years, those wind up owing debtors. Student loan debt has an unremitting impression on the lives of those within its grasp, influencing the manner in which they make important life choices.
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.
In Atkinson, (2009) “The difference principle requires that inequalities in a society should work to the greatest benefit of the least advantage.” The goal of student loans has been to make higher education affordable particularly for those who would otherwise not be able to attend. The negative consequences of student loans is an increase in defaults, which is only making those who offer loans more reluctant to lower the cost. Another result, is minorities and women still receive fewer higher degrees among the groups studied. Most people want to pursue a higher education but are weary of the future cost associated.
“With more than $1 trillion in student loans outstanding in this country , crippling debt is no longer confined to dropouts from for-profit colleges or graduate students who owe on many years of education”. Students or future college students are struggling to figure out solutions to pay off college debt. With rates increasing every year , it is becoming extremely difficult to receive an education and overcome tremendous debt at the same time. However , there are several possible solutions that can help solve the issue of high tuition fees. The first solution is to attend a group called the Scholarship Sharing.
Every year, thousands of students are affected by student loans. College debt is now the second form of consumer debt, right behind mortgages. Surprisingly, textbooks are part of the reason college students lose so much money. On average, students take eight classes a year. Given that textbooks are roughly $150 each, that puts students at spending nearly $1,200 annually (according to a Chicago Tribune report).