Managing Student Loans Essay

Managing Student Loans Student loans have become an insurmountable problem facing many former, present, and future college students, graduates, and their parents in the United States of America. With student loans accumulating at surprising rate, it is important to find a solution to assist these students and their parents. While reducing student loans may be challenging to execute, this objective can be realized with hard work and commitment. The solution to student loans should be handled by multiple parties. The Department of Education, Department of Labor, and the Texas Workforce Commission must educate the American students and their parents about the consequences of obtaining student loans, hold the student loan companies responsible …show more content…
It is terrifying to realize that the future Einstein or Madame Curry is not able to afford college expenses and does not qualify for financial aid or student loans or does not predict to have the means to pay off their student loans in the future. It is so frustrating to think students are doing what is best for them and their future only to discover that they are starting their future with tremendous debt that will follow them until the loan is stamped, “Pain in Full.” It would be detrimental to all, if this generation of college graduates decided that the cost of their student loans did not outweigh the benefits of their education. However, writer Jenna Martin of the “Rising Student Loan Debt Cause for Worry” emphasizes “on average a bachelor’s degree graduate earns a lifetime earnings of $570,000. Imagine the lifetime earnings of a graduate who earned their master’s degree or their doctorate degree. The benefits of a college degree far outweigh the costs, including student loans with the interest” (Martin). Conceding that interest does come along with student loans, the investment’s costly expense is well worth it to a graduate’s career and earning