A Lifetime Of Student Debt Essay
Michael S. McPherson, an economist and president of the Spencer foundation, students “more often, the problem among students who go heavily into debt is that they are determined to attend their dream college, no matter the cost.” His argument is that students who attend the best colleges will enroll no matter how much the cost will be. For room and board college cost an average of 18,326 a year, but should be less because of financial aid that’s available, but students are borrowing much more like, 40,000. Robin Wilson and others say “it’s not that college is not worth borrowing for it’s the increased number of students borrowing now and how much more they are borrowing, and what that says about the affordability of college education.”
Patrick M. Callan president of the National Center of Public Policy and higher Education, disagrees stating that “ the only thing that is worse than borrowing, “ he says, “ is not borrowing and not going to college at all.” Others believe student loans can damage a person’s life; Ms.
Asher states high student debt “can ruin someone for life” Many students try to postpone repayments on their own for years so they can afford their rent or food. The problem is when you postpone payments borrowers find themselves owing more because interest rates keep raising…