My economics teacher once told me a revised version of an old cliche. “Money doesn’t buy happiness, but it can provide security, which can help protect your happiness.” This is true, to a large extent. Happiness in life stems from one’s relationships with people and experiences, something that wealth will not provide. That said, having enough in the bank to not have to worry and stress about paying bills and basic expenses will go a long way in terms of reducing anxiety and allowing time to find a true source of happiness.…
Many college students believe that they will end up making more money than their uneducated peers. There are many citizens who are unaware that they have the potential to live a world of debt after graduating. Robin Wilson, author of the article “A Lifetime of Student Debt Not Likely”, clearly concludes that student debt is unlikely in the title of the article itself. The real truth is student debt can be highly likely. Although it is easy to agree with Wilson’s conclusion it is easy to see debt in an entirety can also be prevented.…
The Growing Problem of Student Debt A question that always seems to come up at the dinner table when a senior is finishing their last year of high school is that of, “what college are you going to choose and how are you going to pay for it?” Although both questions are kind of hard to answer on the spot, one is more difficult than the other. Most high school students struggle to come up with the finances to pay for college. The sad part is that everyone needs an education to have any sort of career because of how competitive the job market is.…
Life's a journey worth taking the unbeaten path. That is why, despite looking up to my loving parents and having the utmost respect for them, I have taken a different road than they did. However, undergoing any challenge without their guiding experience can certainly prove to be an undertaking. I, a first generation college student, am the pioneer of higher education for my family. Though I join many others in lunging out into the world for the first time, I am doing so without having a father or mother to tell me how to tackle the college experience.…
We've accomplished a ton this week. Two completely different businesses were visited and some very insightful business people were met. I enjoyed Scott's work, but his down-to-earth personality made me realize how he can keep such good client relationships. Debt leveraging was my favorite take away from Scott's advice. The way he accumulated more debt to generate another source of income to keep one of his projects afloat was inspiring.…
Education has increased in price over the years. With tuition rates ranging from at least $40,000 per semester, students have no choice but to take out loans. As some loans are abundant, these options have become widely accessible to pay off these costs. Sadly, these decisions have accumulated debts over a college student’s career. With few articles supporting from Megan and Gillispie, these loans can lead to detrimental problems during and after college.…
Student debt seems to be a growing problem. Not only for the students, but for the parents and schools. In a survey, 95 percent of parents said that college education is very important, 25 percent do not plan to help their child pay for their college, and 46 percent said their children should fund at least some of the cost of college. Students will see more of their debts forgiven than previously thought. More than $108 billion in student loans will be forgiven over the next 10 to 20 years.…
One of the most common questions asked to kids is “What do you want to be when you grow up?” Many times in response to this kids will answer with a typical dream job: “I want to be a Firefighter!” However, we can look at that same kid twenty years down the road and find them in a cubicle slaving over spread sheets as opposed to bursting into burning buildings to save lives. The question is why? Why would someone give up his exciting dream job in favor of something so monotonous and ordinary?…
According to the checklist I was more in financial trouble a couple weeks ago. I am continuing to improve my financial situation. It is hard to select no to all the warnings when I am a newlywed college student only recently venturing into the world. With no money we could have been considered to be in financial trouble, but I keep on saving and slowly getting out of trouble. A couple weeks ago I would have checked the yes box to living paycheck to paycheck.…
Millions of post-grads find themselves with student-loan debt in amounts that are outstanding. While the Pell Grants and other forms of aid exist, balances amount so high that students find them paying them off near their later years in life such as fifties or even sixties. Many claim that jobs acquired after attending college to not supplement enough for a successful lifestyle and for payment of this debt. This leaves many to question the the worth of investing in a higher education. Does it pay off in the long run, even with tremendous student debt?…
In today’s American society, the average college graduate leaves college with a whopping $37,172 in student loan debt. Crippled by constant payments, many struggle to keep up with payment plans. On top of that, federal student loans encompass an interest rate, which has a limit of 8%. Because the interest rates are so high, graduates can end up paying double the original loan amount. Coming from a large family, I have had first hand experience with the effects of student loans, and what it can do to a blossoming individual looking to start a new life.…
Student loan debt has increasingly become an issue, not only for those who have acquired it and must deal with it, but also for the economy. To function normally in today’s society, pursuing a college education is a requirement for those who want a high paying job. With this decision, students also decide to take on large amounts of student loan debt and the long-term turmoil that it inevitably leads to. Student loan debt impacts students purchasing power which negatively impacts the economy. Over 42 million people owe $1.3 trillion in student loans (Rosato).…
Game of Loans Education should not be a debt sentence. However, according to Mark Kantrowitz in The Wall Street Journal, the average student this year will have to pay back more than $35,000 in student debt (Sparshott). Statistically, that is more than buying a new 2016 car or truck, which averages around $33,560. For a college student that is just graduating and makes less than 30K a year, that is outrageous!…
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?…
Vast amounts of debt and scarce job opportunities are two main issues that college students face in the modern world. Student loan debt in the U.S. has recently surpassed one trillion dollars, leaving students to wonder whether a higher education is worth the cost. Although the costs depend on whether the college or university is public or private, all forms of college education are expensive. The U.S. already funds public colleges and universities through tax revenues. Through this program, the American government can prevent the costs of higher education from rising.…