Debt forces students to postpone life in several key areas including buying a house, getting married and saving for retirement. On top of all this, college degrees are more common than ever; record numbers of Americans have a college degree and its impact on future earnings is not what it used to be. So, college students are paying more for a degree that will earn them less than the same degree did a generation ago. And we want to go into debt getting this degree? This is absurd.
Journalist Sophie Quinton discusses how college expenses are constantly rising, though many states are now reducing instate tuition in her recent article, “States Move to Curb Rising College Tuition. Quinton informs readers that colleges are not only cutting college tuition, but freezing it. As a result student loans are soaring nationally, and schools are forced to become more efficient. Student loans are then causing debt, that later affects a students’ life in numerous ways. College students today, tend to lean towards nicer looking colleges, rather than a higher education.
According to Anya Kamenetz in the article “Generation Debt,” young people of today are struggling with high debt due to high educational finances and this is preventing them to move on as responsible adults. College tuitions are too high to pay that young people fall into applying for student loans, and have significant credit card debt with high balances. Most students are using their credit cards to pay for their college expenses and student loans; even their paychecks are being used to pay for college. I agree that many young people held back in becoming a full adult which they are doing everything they can just to continue their education. Even if it means to continue living at home with parents just to make ends meets and not being able to step in the “fully adulthood.” In other words they, are prolonging their adulthood just to be able to go to college and be able to fully
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.
The origin behind all of this is a lack of a student loan amount cap. Overall, this issue affects most people living in our world today and must be fixed for our generation and generations to come. Over the span of many years, the world’s jobs have expanded to millions upon millions. Due to this rapid expansion of job growth this has caused education to be expanded in to different fields and degrees. Some jobs require a degree that is harder to earn in an
Various authors today are still writing about the ongoing issue of poverty and the ways to climb out of it. Brink Lindsey, the Cato Institute 's vice president for research, writes about not only the importance of a college degree, but also the financial strain it has on the families funding it. Brink Lindsey, has written that the income of college graduates has risen from below 50% in 1980 to 85% in 2008, and those without an education are barely able to attain a menial income, insufficient of their needs. “Tuition costs have galloped far ahead of inflation, while many in the working class have seen their incomes stagnate or slip” (Lindsey). “A lack of money is the
You now have skyrocketing tuition costs and loans. Totally wrong and unfair. As an example: Yale 's endowment is now $23.9 billion as of June 30, 2014, net of spending. The University benefited from investment gains of approximately $4.0 billion. Yet how many students will be able to EVER pay back their loans that go there.
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.
A college level education has many perks. “Education is essential for personal and national well-being. We live in a highly competitive, global economy, and if our economy is to be strong, we need the best-educated workforce in the world. We won’t achieve that if, every year, hundreds of thousands of bright young people cannot afford to go to college while millions more leave school deeply in debt” ( Sanders). If every young person is
The increasing rate in which students are dropping out of college is alarming, because it will affect our society in the long term, as the students of today are the employees of tomorrow. Governments need to address this issue, because everyone’s future lies in the hands of teenagers. They need to find a solution to the increased prices in colleges relative to people’s earnings. Years ago, attending college may have been only for the people who were well off, but today having a bachelors degree holds the same value as a high school certificate did years ago. Teenagers’ aswell need to understand that attaining a bachelor’s degree is key for getting a well-paid job later on.
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. As well as, young students may not be able to acquire a good grasp of how too take care of money properly and to evenly spread finances across all needs and wants. And secondly as another alternative solution could be starting out slowly and going to a community college so that college debt can be slow and that it will be more bearable to handle when going to university if that is a choice to pursue even further for a student’s education. In the article, ‘Paying for College Without Loans, Scholarships, or Looting Your Parents Retirement” it writes, “We’ve seen something of a devaluation of a bachelor’s degree in the job market.” (Steinberg
In Source C it states, “Among millennials ages 25 to 32, median annual earnings for full-time working college-degree holders are $17,500 greater than for those with high school diplomas only. That gap steadily widened for each successive generation in the latter half of the 20th century.”. This shows that people who went to college and got an education earn a lot more money than those who only have a high school diploma. When people are focused on their education and go to college they will be more successful, but focusing on college as a “country club” won’t get people successful. Continuously, in Source D it states, “High school graduates earn about 62% of what those with four-year degrees earn, according to a Pew Research Center study.