They are tricky and usually lead to paying much more than intended. It is a decision many later regret in life. Anyone who has taken out a student loan will tell you it is a bad idea. So many take out a loan and end up not being able to pay for it, dropping out of college, and still having to pay off the debt. It is better to just avoid student loans and debt in
Let’s say that a student wouldn’t be eligible for financial aid and doesn’t have a job to support him or herself for school, that’s also another reason why student loans could be very good for that certain student. The process of getting student loans does take a while and have to have certain credentials to get it but it’s totally worth trying to get. It is heard that student loans can cause a money drought or
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).
Student loans pose as a suitable way out of this issue as it provides a pathway for those of lower- or middle-class to pursue further education; however, this puts the individual in serious financial debt. The author effectively suggests that since the individuals who choose to pursue higher education will ultimately use that knowledge to help their society then society should realize the value of education and fund any associated costs. Everyone should have fair financial access to post-secondary education so that it is not deemed a “luxury good”. All individuals ultimately have the same cognitive competencies therefore one individual should not be restricted to certain “lower class” profession solely due to financial
This wasn’t always the case; back in the 1980’s tuition was much more affordable and could be paid off fairly quickly without having to take out a student loan (Kay 36). In addition those who did take loans were able to find good jobs and pay them off quickly (Kay 36).One must also take into account that college didn’t pay for luxuries such as swimming pools, high class weight rooms, and arcade (Kay 39). Kay also states “The current prices of tuition are approaching the average American’s annual salary” (Kay
Student loans can be helpful, but when it's time to pay back, it can lead to future mental struggles and be stressful and hold you back from living the life you want to live in the long run. The student loan debt crisis in now only taking a huge toll on the personal lives of many Americans, but on the economy as well. Whether or not students graduate or not, if they pulled out student loans worth $200,000 they remain in debt for a remainder of years. As the problem continues to grow it becomes more and more critical to find a solution to help the well being of everyone in the nation, student or
Education after high school will lead to better job finds and just all around smartness and maybe even learning things a school can’t teach you. I think the world needs to lower college prices because you need a college education for most good jobs, so poor students can still attend college, and the debt you have after college is enormous and takes forever to pay off. Please take all of these reasons into
Students often go to their parents for help while they study through college. As college tuition gets higher and student loans become more difficult to get, the harder it is for a college student to pay completely for their college. Students will go through obstacles down the road and their parents will be there for them. Whether it's financially, physically or just mentally preparing their kid for the
These studies have proved that college is not worth it in the long run. College graduates are beginning to have high expectations on their wages earned. New college students are losing ground on wages by the time they graduate. Many are working hard to earn a degree, going into debt, making sacrifices financially. But, the lack of wage growth is affecting them after college.
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.