Drowning In Debt

Superior Essays
“If the world were the way most educators would have us believe, America’s streets would be clogged with people who decided to skip out on their college degrees, panhandling to feed their illegitimate children. If you asked any of the hypothetical street-lurkers what they regretted most, they’d turn to you, eyes weary and underlined with dark circles, like sad, sad eyeliner for poor people, and whisper, ‘I didn’t get my college degree. Don’t be like me, kid. Go to college. Pursue that higher education for all it’s worth.’ And you’d nod, give them a reverent ‘Yes, sir!’ and know in your heart that had just unlocked the secret to the life you’d always dreamed of,” (Peech, Charlotte). In the quote above, the author captures exactly how the image …show more content…
The fact of the matter is that many graduates are practically drowning in debt accumulated through college attendance. According to board of college a moderate college budget at a private four year college is averaged at $44,750, that’s not even including Dorms, transportation, food, or other living expenses. That’s an insane amount of money to be in debt from, plus interest, you could possibly end up spending the next 20 years of your life paying that debt off. In addition to this, many people spend more than four years getting their degree. Red –shirting Athletes often take five years or more to get their degree, and according to Tom Kertscher student’s o average are spending six years, on a four-year degree. “…And so we have, in all of our good intentions,” Ron Johnson said, “We’ve actually made college less accessible because we’ve made it so unaffordable and we’ve plunged our children into debt. And also by giving them this easy debt, on average, kids are taking six years to get a four-year degree, while the debt meter is increasing.” Going off of what Johnson, 56% of students in 2007-2008 took five to six years to get a four-year degree. It’d be crazy to have to pay for six years of college for only a four-year degree. Especially with the prices of college on the rise, yet that is what most college students have to do. All in all, college could end up costing you a fortune, in both time and …show more content…
According to the Bureau of Labor and Statistics, in 2012, only 22% of all jobs required a bachelor’s degree or more. If you have a bachelor’s degree, only 17% of jobs projected by the Bureau of Labor and Statistics will require a bachelor’s degree in 2022. 32% of the population over the age of 25 has a bachelor’s degree. Among people ages 24-34 it’s at 34%. This means there are only 2 jobs for every 3 people with a bachelor’s degree. The number of people with a bachelor’s degree is growing faster than the number of jobs that require it. There is any oversupply of jobs that require a high school diploma or less than (about 66%) compared to that of the 12% whose education fits those jobs. And even if you did end up getting a job that you’re qualified for, it’s not like you’re going to be launched into a high standing position like CEO. To put yourself through all several years of college, and only have somewhat of a chance to get a job after all you just went through, it doesn’t sound like it’s really worth it. Also wouldn’t it be better to spend six years in a gaining experience in an industry rather than studying 24/7 for the next several years of your life. Studies and common knowledge dictate that the longer you spend in a business/industry the higher your average income will be. It will also make you more efficient, knowledgeable and overall better in that industry, and make employers more

Related Documents

  • Great Essays

    On average, a male high school dropout will earn $24,000 a year, while someone with a four-year degree will earn $52,000 and someone with an advanced degree will earn $67,000. Many students are struggling with college tuition, some even deciding not to attend college, or find a job while in college, or going to college and drowning in debt, and I believe that shouldn’t happen. Also there are many countries who college education is free that we can follow, certain countries…

    • 1488 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    Parents drill this into their kids brain from the time they can speak. Although, it’s hard to be “successful” when the price of the that success is so expensive. College tuition has increased tremendously over the past thirty years and the number is only going to get higher. There are fewer people attending and even applying to college every year. “Between 2012 and 2013, the Census Bureau reported last week, 463,000 fewer people were enrolled in college” (Pathe).…

    • 1475 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    Saving money can also help college graduates in their much later future. According to the article, “College Degrees Get You Dollars, But What Else?” by Nick McCrea, “People with a college degree are 72 percent more likely to have a retirement plan, and fewer than half are still working at age 62, whereas 67 percent of people with just a high school diploma are still in the labor market after age 62” (McCrea). McCrea does not stop there with the benefits of college. Although retirement is a huge part of many peoples lives, going to college can also help someones life on a more personal level. “People with degrees were 21 percent more likely to get married and 61 percent less likely to be divorced” (McCrea).…

    • 1455 Words
    • 6 Pages
    Improved Essays
  • Great Essays

    Degree fields such as teaching, social work, and elderly care are not studied because these jobs just do not pay enough to repay back students college debt. Nearly one-quarter of grads from public universities carry debt that would be unmanageable with the starting salary of a social service worker. These numbers are even higher for those who went to a private college or university. Today, three-quarters of the fastest-growing occupations require education and training beyond a high school diploma. Nearly half of the students who begin college in this country do not finish within six years.…

    • 1688 Words
    • 7 Pages
    Great Essays
  • Great Essays

    Now students who pursed a four-year degree that didn’t graduate within 6 years were responsible for $3.8 billion dollars lost in income. $566 million dollars in lost in federal income taxes, and $164 million gone in state income taxes per year. As the number accumulate, more and more people find college unessential if we waste so much money on it and don’t use…

    • 1977 Words
    • 8 Pages
    Great Essays
  • Improved Essays

    Benefits of a College Education College isn’t for everyone. I was set on not going to college after high school but that changed when I found out about the benefits of having a higher education than a high school diploma. Now there isn’t any realistic future of mine that I could see being successful without a college education, because it helps obtain a better salary, better career opportunities, and it helps with building up the community and your family. Furthering an education after high school can be a benefit to you in more ways than just gaining some knowledge – you also gain money. People who go to college make an average of $22,000 more per year than those who have no education after high school.…

    • 489 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Additionally, the majority of late dropouts do not matriculate at any college after dropping out based on National Student Clearinghouse records. 2. Complete College America (CCA) fundamentally believes that .1) There is a new American majority on campus; (2) Part-time students rarely graduate; (3) Poor students and students of color struggle the most to graduate; (4) Students are taking too many credits and too much time to complete; and (5) Remediation is broken, producing few students who ultimately graduate. B. 1.…

    • 777 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    In 2008, the graduation rates for students at traditional schools seeking a bachelor’s degree were 39.5%, at liberal schools 42.5%, and at open schools 27.6%. The rates for students seeking associate’s degrees were 24.4%, 37.6%, and 26.3%, respectively. (Student Success 14) This means that, on average, over 50% of students that are accepted to college, pay tuition, and take out loans never even finish out their degree. More than likely, these dropout rates are a result of unmanageable tuition costs, unmanageable workloads, and unmanageable stress. To add insult to injury, students that have some college but no degree typically earn less than students with just a high school degree or equivalent.…

    • 1708 Words
    • 7 Pages
    Great Essays
  • Improved Essays

    When entering the workforce after attending one of these three universities, the average entry-level job is $50,000 per year. The average American must also take on other fiscal responsibilities such as a car loan, mortgage, medical debts, and the daily cost of living. These burdens have often overwhelmed the many middle class graduates. Ehrenreich states that because of these fiscal obligations, “In 2006, for the first time, the average household’s debt exceeded its income” (Ehrenreich, 85). Because of this, people must work at a lower end job without much opportunity to grow within the job in order to try to clear debt.…

    • 1064 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    According to Floyd Norris in his article titled “Fewer U.S. Graduates Opt for College After High School,” 65.9 percent of high school graduates are enrolled in higher education after high school. Deciding to go to college or join the work force after high school is a difficult decision because people don’t know what is better for them. Going to college after high school is more beneficial than going straight to work. It opens up better job opportunities and better wages.…

    • 723 Words
    • 3 Pages
    Improved Essays