College tuition is a nightmare among people seeking a higher education. Tuition is not decreasing; in fact it has been on a rapid nonstop rise since 1978. College tuition is a growing concern since many of the job openings require some sort of college education to even be considered for the job. Today’s society has made college appear as requirement in order to succeed in life, but in order to succeed one must go bankrupted paying college tuition to prove ones successfulness. Even after miraculously paying for tuition there is no guarantee of a job opportunity. Since colleges and universities are allowed to set the tuition rate they can increase tuition any time. It seems as college tuition went from affordable to sky high over night and because
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Since it might seem like an easy way to get money to pay for college tuition this one of the main reasons college students go bankrupt. Student loans are handled by the government and are only paid back after the person graduates from college at a fixed interest rate. Having college paid for and not having to worry about it sounds like the best idea ever. However, many recently graduated college students face the trouble of finding employment. If the recently graduated college student cannot find a job he will not be able to pay for the student loan. According to Susanne Soederberg, “Default rates on student loans have been climbing since 2003. By 2012, student loans registered the worst delinquency rates in consumer credit, worse than even mortgage debts and credit cards.” (Par. 2). The amount of money that is available by the student loans is continuously growing every year, but when the amount of money available to borrow grows so does the amount of college students that default. Once the college student defaults it is extremely difficult retain a good economic status. As a consequence of defaulting the college student could face: legal actions, higher interest rates, a low credit score, and possibly a government deducted wage to pay back the money the student owes. Student loans are proven to be a scary thing that can ruin a college student’s economic life. There is no guarantee that recently graduated student will get a job, therefore students loans should be avoided to pay college
Since it might seem like an easy way to get money to pay for college tuition this one of the main reasons college students go bankrupt. Student loans are handled by the government and are only paid back after the person graduates from college at a fixed interest rate. Having college paid for and not having to worry about it sounds like the best idea ever. However, many recently graduated college students face the trouble of finding employment. If the recently graduated college student cannot find a job he will not be able to pay for the student loan. According to Susanne Soederberg, “Default rates on student loans have been climbing since 2003. By 2012, student loans registered the worst delinquency rates in consumer credit, worse than even mortgage debts and credit cards.” (Par. 2). The amount of money that is available by the student loans is continuously growing every year, but when the amount of money available to borrow grows so does the amount of college students that default. Once the college student defaults it is extremely difficult retain a good economic status. As a consequence of defaulting the college student could face: legal actions, higher interest rates, a low credit score, and possibly a government deducted wage to pay back the money the student owes. Student loans are proven to be a scary thing that can ruin a college student’s economic life. There is no guarantee that recently graduated student will get a job, therefore students loans should be avoided to pay college