Essay on Fixing The Student Debt Problem

1802 Words Oct 12th, 2016 8 Pages
Fixing the Student Debt Problem
Many people dream of graduating from a good college and starting a career in a field that they both love and that will secure them a well-paying, secure job. Unfortunately, due to the rising cost of college tuition, a large amount of students are unable to pursue this dream without amassing a large amount of loans. Student debt has become almost synonymous with attaining higher education. However, student debt often has a crippling effect on people’s financial independence and future. For many people, finding a job that pays well enough to repay their massive loan payments is impossible. Student loans are given on the basis that one day the knowledge learned by procuring the degree financed by the loan will give the loanee a job with a salary high enough to justify giving the loan in the first place. Unlike almost all other loans that require lengthy processes aimed at revealing one’s financial ability to afford the loan and repay it back in total over time, student loans do not require such a process. They are given fairly easily, and in large amounts, to people that who are often very young and do not fully grasp the magnitude of what they are signing for. Though incurring student debt can provide students with opportunities otherwise unavailable to them, it is important nonetheless to realize the full impact that these loans have on one’s future economic stability.
To understand why student debt is a problem, it is important to first…

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