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The Pros And Cons Of Student Loan Debt

945 Words4 Pages

In today’s worldwide economy, there is a high demand for the best-educated post-graduate students in our industry. Hundreds of thousands of intellectually savvy students cannot afford to go to college, and those that can leave school with a colossal debt that haunts them for years after. As stated by presidential candidate Sanders, “That shortsighted path to the future must end. I will fight to make sure that every American who studies hard in school can go to college regardless of how much money their parents make and without going deeply into debt. This isn’t a radical idea.” We see worldwide that this burden of debt has hindered society for too long. In 2014, Germany got rid of college tuition because they thought that “charging students …show more content…

Through the widening support to make higher education reasonably affordable, the concept of giving U.S. high school graduates the chance to go to college for free has gained political backing. In 2015, President Barack Obama put forward a national, free community college project that is being looked at by Congress right now. This plan would “grant free tuition to any student enrolled at least halftime with a 2.5 grade-point average, and with a family income under $200,000.” Recently, Oregon and Tennessee have passed similar plans. However, high ranked private universities have multibillion funding that can give full ride tuition for low-income students who have done very, very well in their academic performance. However, for the rest of us, it 's every person for themselves. Antonio Vielma, a Questbridge Scholar and senior at Northwestern, agreed with the idea but wondered whether "private colleges with large endowments will lose their middle class students." However, new data portrays that sixty-nine percent of colleges are able to keep students after their first year due to tuition fees. Free college isn’t going to lead to the apocalypse or the end of time, all it will do is give students the opportunity to get an exceptional education without student loans haunting them for the rest of their

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According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.

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