Persuasive Essay On Student Debt

Improved Essays
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. We can thank the federal programs that help ease the financial burden for those attending higher education institutions. Congress approved the plans to relieve students' debt burden by lowering the monthly payments by borrowers, and forgiving any unpaid loans after 10 to 20 years. …show more content…
The amount of debt forgiven could also continue to grow as more and more students enroll in the program. But with the incoming Donald Trump administration and the Republican-majority Congress, parts of the program could be dismantled, according to Reuters. Specifically, the incoming administration may choose to end rules that make it easier for students who were defrauded by for-profit colleges to have their loans forgiven. It’s and Americans are more burdened by student loan debt than ever. You’ve probably heard the statistics: Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million borrowers. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year. As we can see student loan debt has a variety of problems. So as a kid you might want to ask your parents to start a savings account for your college funds, so when it comes time you don’t have to worry as

Related Documents

  • Improved Essays

    In today’s modern world, student loans have become an anchor just too heavy to drag. And so, this introduces the issue of student debt, and if it is really fair to all American citizens. The total student loan debt in the U.S is 1.48 trillion dollars, 620 billion more than the national credit card debt (Source A). If that doesn’t say something about how outrageously expensive student loans are, then I don’t know what does.…

    • 822 Words
    • 4 Pages
    Improved Essays
  • 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
  • Improved Essays

    Student Debt Forgiven

    • 464 Words
    • 2 Pages

    Do you struggle each month to pay all your bills? Add a student loan payment to this and you will understand how college students feel like. There are way too many people in debt to not have them be forgiven. Even the country is in debt. Most people that are in debt end up homeless and that's not good.…

    • 464 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    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.…

    • 784 Words
    • 4 Pages
    Improved Essays
  • Superior Essays

    Many American students suffer with college debt. The average student that graduates with a bachelor’s degree leaves the university with more than $30,000 in debt. Students that graduate with graduate degrees can end up leaving their universities with more than $100,000 in debt. Living with that type of debt has caused many Americans to put a lot of the plans they had post- graduation on hold. Average people have a hard time paying bills and living day to day already and with the added stress of school loans for many it can become unbearable.…

    • 1447 Words
    • 6 Pages
    Superior Essays
  • Improved Essays

    Student loans can be a burden on many students trying to further their education. Research says that the average debt for a college student has risen up by 25 percent and that’s just between 2008 and 2012. Not enacting this bill does not only affect the students in college but society as a whole. I am strongly concerned about the passing of this bill because I see education as a requirement for life. Living in a world where it is mandatory to obtain a secondary education in order to…

    • 370 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Student Debt Essay

    • 769 Words
    • 4 Pages

    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?…

    • 769 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    After graduating high school deciding where to go for college, what to do with your life, and how to pay for college can be exasperating. Right now, about 44 million Americans have student loan debt. The average individual student will owe about one hundred thousand dollars for a bachelor’s degree; together, Americans owe 1.4 trillion dollars. Do you really want to add another hundred thousand to that? If you start saving now, apply for grants and scholarships, and even get a part time job, you can follow Dave Ramsey’s advice and graduate college debt free.…

    • 612 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Student Loan Debt Analysis

    • 1079 Words
    • 4 Pages

    According to the Institute for College Access and Success reports, the average amount of student loan debt for undergraduates in the United States for 2013 was $28,400. The Institute for College Access and Success also reports that the average amount of student loan debt for undergraduates in Pennsylvania as of 2013 was $32,528. The same source reports that Maryland has an average undergraduate student loan debt of $26,349, New Jersey’s average is $28,209, and New York’s average is $26,381 (Bidwell, 2014). Even though these three surrounding states have a higher per capita income than Pennsylvania has, their student loan debt is lower than Pennsylvania’s. When comparing these surrounding state’s per capita income and student loan debt to Pennsylvania’s,…

    • 1079 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Students Struggle to Pay for College College is expensive and many students struggle with debt. The United States of America has a student debt total of $1.41 trillion (“A Look at the Shocking...”). That is extremely high, considering U.S. credit card debt is $620 billion less than student loan debt (“A Look at the Shocking...”). Although the government already provided $125.7 billion in 2016 for financial aid, students still struggle to pay for college (Federal Student Aid…). In order to help these individuals receive a college education, all community college tuition should be free, tuition at all 4-year schools should be based on family income, and state funding should be increased by raising taxes to fund colleges to allow free or reduced tuition.…

    • 1670 Words
    • 7 Pages
    Improved Essays
  • Improved Essays

    Should the cost of college tuition be lowered? Many students would answer this question with a definite “yes”, arguing that education needs to be affordable. Now that society is making college education the new element for most jobs, many people now have to gain a higher education degree for the job they prefer. “In the past couple decades; a college education has been promoted as a necessity for success in life.” (At Issue: College Education).…

    • 755 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Student Debt Essay

    • 1168 Words
    • 5 Pages

    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!…

    • 1168 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    The public debate over student debt is often focused on the roles of the students but leave out the colleges themselves. Colleges do not “shoulder none of the financial [risks] that comes with debt … [and] they get paid just as much regardless of whether students pay off their loans on time”(). With the solution of forbearance, it gives a little bit of breathing room before default kicks in which means you will no longer be eligible for forbearance, deferment, or lower payment options. Default loans are a burden to students owing to the fact that the loan will be due in full immediately.…

    • 292 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Rising Cost

    • 948 Words
    • 4 Pages

    With new laws being passed, it will help students that do acquire debt while going to school. " To reduce the cost of loans for millions - cuts interest rates - from 6.8 percent to 3.4 percent over the next four years." "In addition, this law will prevent students from facing unmanageable levels of federal student debt by guaranteeing that borrowers will never have to spend more than 15 percent of their yearly discretionary income on loan repayments and by allowing borrowers in economic hardship to have their loans forgiven after 25 years. "(US Fed News Service, Including US State News; Washington, D.C., March 2016).…

    • 948 Words
    • 4 Pages
    Improved Essays