Problem Solution Essay On Student Debt

As I was thinking about college student problems for my Proposing a Solution Essay, I realized that student loan debt has become a major problem. In order to afford their education, students consume overwhelmingly large amounts of loans. At the end, loan debt becomes a burden on them as they compelled to make payments after graduating and suffer from a lifelong marriage to loan debt and potential financial hardship. Due to this setback, it is hard not to wonder if college is even worth it. At the end, is it just another problem a person endure?
The problem of the consumption of student loans may not be fixed as a whole since it may be a necessity for almost all students. Unless they come from a rich family or earned a full ride to college, …show more content…
One of them is the establishment of tax policy programs, such as the Earned Student Loan Repayment Program. This proposal would create a tax policy to allow employers to assist employees with student loans by paying down an employee’s student loan principal, assigning a portion of their compensation and applying it toward the loan. I know that some employers have been offering of 401(k) plans to allow employees to distribute funds either to retirement accounts or to student loan payments. An alternate solution would be establishment of reforms to extend the time between graduation and start of the payment of student loans to allow people more time to earn enough money and not face potential bankruptcy, especially if the people can prove that they are facing financial hardships balancing their living expenses and other bills if forced to repay student loans. The government is worried that establishing loan forgiveness programs and reducing the period of loan repayment might lead students to borrow more and take advantage of this if they see that their loan debt is potentially negotiable. By ensuring that loan amounts forgiven are not included in tax income, then there can be a mutual agreement between the two