Essay On Student Loan Forgiveness

Improved Essays
After years of all-nighters and writing extremely long papers, you have finally walked across the stage and earned your college degree. Now, it 's off to find a job, the perfect apartment and maybe even buy yourself that nice car that you thought you could never afford. If you 're like many college graduates, it won 't be too long after you get comfortable with your new, fancy lifestyle, where you can afford pretty much anything you want, that your grace-period will end and your student loan payments will begin.

For those struggling to figure out how they will pay off their student loans and not be stuck making payments for the next 10 to 20 years of your life, there are a number of things you can do to get your loans paid off and rid yourself of this huge debt.

Make payments on time
When it comes to any bill, it is always wise to pay it on time. It is really no different with student loan payments. Paying a bill late leads to late fees, which lead to you spending more
…show more content…
Basically, if you were to work as a teacher or obtain a public service position, after a certain amount of time and loan payments, your loans will be forgiven. In some cases, only part of your loans will be forgiven if you meet all of the requirements. This may not be the full amount of your loans, but even half of this debt being forgiven is better than you having to pay the money yourself.

You may not have been lucky enough to pay for college with grants and scholarships, but you are smart enough to avoid having to make loan payments for the next 20 years of your life. It is not fun paying any bill, but it must be done, and it is a great feeling knowing that you have your bills paid and are free of them until next month. Just imagine how you 'll feel once you have no more student loan debt haunting you and constantly digging into your

Related Documents

  • Improved Essays

    Although a majority of the American society find student loan forgiveness to be unrealistic, I believe that forgiveness can provide a well-rounded economic platform for graduate students who have acquired large amounts of debt due to college tuition costs.…

    • 1011 Words
    • 5 Pages
    Improved Essays
  • Decent Essays

    Paying off student debt is hard, and it takes years to pay it all off.…

    • 214 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    At last, the time has come for the start of what parents have talked about since birth and what teenagers wished would come faster, graduation. However, it’s not just graduating high school it’s a stepping stone towards a life-long career. In addition, the first decision high-school graduates must make is whether or not to go to college. Nevertheless, the cost of attendance, course of study, and location are all important factors in choosing between Northeast Lakeview college and the University of Texas San Antonio. Over time college has gradually became more expensive; paying back student loans can be a burden on students and take them years to pay back the financial aid that was acquired.…

    • 1335 Words
    • 6 Pages
    Improved Essays
  • Superior Essays

    Social Location Analysis

    • 1006 Words
    • 5 Pages

    Students across the country are facing a mounting challenge upon graduation. This challenge is not one that is easily surmounted or circumvented. The challenge is also not limited in scope to one social class or geographical region. The challenge facing more and more students every year is student loans. The loans themselves are not the issue, but rather the excessive amount of debt that tends to follow.…

    • 1006 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    In the book "Is college worth it? , The Borrowing Binge",talks about how "Many of today's college graduates are suffering under mountains of debt, with slim chances of gaining suitable employment to pay back their debt on a timely manner. " As you can see going to college is a hassle because it's not free. Going to college causes you to get into debt. This can be a problem, if you can not find a job to pay off your loans.…

    • 856 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Although forgiving student loans provide troubled graduates the ability to get back on their feet, the forgiveness of student loans do not provide a cumulative benefit for the entire nation economically, therefore the student loans should not be forgiven. First of all, Justin Wolfer’s “Forgive Student Loans? Worst Idea Ever” Wolfer highlights the…

    • 814 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Student loan debt can be a daunting thing to face when you first graduate from college. You have spent the past four to eight years or more concentrating on your future endeavors and now find yourself at the end of your academic road with a mountain of debt and looking for a job. There are a number of easy to eliminate student loan debt and this article with share the two main ones with you to help you find a light at the end of your student loan tunnel of debt. Student loan debt is inescapable and can not be gotten rid of with bankruptcy or other financial tactics.…

    • 484 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Pay of Student Loans Earlier Without Trying Too Hard Student loan debt has now reached an epic all-time high, which is why the US government is finally cracking down on students that do not repay their student debts. You may be paying yours off, but is there a way to get it done quicker with a little less pain? Can Students Avoid Paying Back Their Student Loans? An old trick was to avoid your debt company for thirty years and they would write off your debt, but that trick isn’t possible anymore.…

    • 1107 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Student Debt In America

    • 239 Words
    • 1 Pages

    Over the years, student debt has accumulated uncontrollably and has affected millions of Americans. While the goal of attending college is to prepare oneself to be successful after school, many college graduates are restrained from doing so. Making big purchases becomes scary to people who are burdened with debt – people like college graduates who are looking for a place to call home. Not only does the housing market become affected negatively, but so does the job market. With many college graduates unable to find jobs well-suited for the degree they earned, and with the amount of debt they accrued, young adults are left to find jobs that allow them to pay off debt and other bills.…

    • 239 Words
    • 1 Pages
    Improved Essays
  • Improved Essays

    But that is not that case for Liz Kelly, a Missouri high school teacher and a mother of 4 who owes the government $410,000 in student loans. Liz Kelly’s circumstances are not unique, of the 43.3 million borrowers, 1.8 percent of people (799,000) owe $150,000 and 346,000 owe more than$ 200,000. The debts get worse with the interest rates with some students paying 8.25% the same as bank rates. According to the Federal Reserve Bank of New York, the number “of active borrowers enrolled in college has declined to roughly nine million today from about 12 million in 2010.”…

    • 448 Words
    • 2 Pages
    Improved Essays
  • Superior Essays

    Such as giving young entrepreneurs more money to advance their careers and businesses. Students leaving college after their undergraduate degree usually have loans that would take years, if not multiple decades to pay off. The graduating high school student of 2015 is expected to have a debt of almost 35,000 dollars. That alone is someone’s yearly salary. Federal government has made ways for a common person to lower their debt and eventually acquire loan forgiveness.…

    • 1447 Words
    • 6 Pages
    Superior Essays
  • Superior Essays

    Student Debt Causes

    • 1036 Words
    • 5 Pages

    Instead, students are forced to search for other alternatives. According to the New York Times, the average college graduate is in over $25,000 of debt. This debt tends to carry a glooming shadow over the student as they begin their life in the real world. The average student takes roughly 20 years to completely pay off their debt (Moore 1). With making around $51,000 a year right out of college, little of it can be spared for paying off their debt.…

    • 1036 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    Essay On Student Debt

    • 1075 Words
    • 5 Pages

    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).…

    • 1075 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Essay On College Tuition

    • 1308 Words
    • 5 Pages

    As a consequence of defaulting the college student could face: legal actions, higher interest rates, a low credit score, and possibly a government deducted wage to pay back the money the student owes. Student loans are proven to be a scary thing that can ruin a college student’s economic life. There is no guarantee that recently graduated student will get a job, therefore students loans should be avoided to pay college…

    • 1308 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Repaying Student Loans

    • 1324 Words
    • 5 Pages

    I graduated from law school in 2011 with $206k in student loan debt. Since then, I’ve paid down my debt to $131k. While it is still a work in progress, there is so much that I have learned over the last few years. If you are like me and have student loans, then there will come a time when those loans will come due. Whether you are just graduating college or whether you are a few years out and you are just getting around to it, getting organized and planning for repayment are the first steps in actually repaying your student loan debt.…

    • 1324 Words
    • 5 Pages
    Improved Essays