Persuasive Essay On Student Loan Debt

739 Words 3 Pages
Education is said to be “the great equalizer” among social class and race. Despite the lack of resources, poor funding, and limited opportunities, low-income students still get access to higher education. However, getting through college isn’t the only struggle. Growing up, it is instilled in you that college is an investment, and job opportunities will come like there’s no tomorrow. As Admiral Ackbar from Star Wars would say “It’s a trap!” Investments are great if you get employment right away; this is not the case in most occasions. Countless of college grads are stuck doing minimum wage jobs, instead of exploiting their knowledge in what they studied hard for; a great case of “underemployed and overeducated”. Sadly low-income students can’t …show more content…
Financial Aid is offered to almost anyone, making college accessible to everyone. This is an issue in itself. With everyone accessing these loans and aids, large amounts of money are being taken out that hinder students in the long run. As a nation, college graduates and students have an accumulated student loan debt of $1.3 trillion, with low-income students being the majority of the partakers. “Student loans have become the second largest source of personal debt in the United States; surpassing credit card and auto loan debt total,” says Dan Friedman from New York Daily News. With college rates rising, it’s nearly impossible to pay out of your pocket. It is estimated that “by 2025, the amount of student-loan debt will double,” according to the Congressional Budget Office. With the numbers increasing drastically, too many low-income students are carrying burdens too heavy for them to ever lift; hurting their abilities to pursue post-college life with …show more content…
Henry. Yet both groups of graduates earn the same piece of paper that showcases the completion of their long efforts with their college career. The trouble is that many low-income students rarely benefit from inheritances or other transfers of wealth that help upper-class students afford down payments on homes or college tuition. Low-income students have to go at life alone, with all the debt and unemployment that comes with it. This struggle is what tends to turn most people away from college, since they feel that they will only be adding wood to the fire of their economically unstable situation. According to Danielle Douglas-Gabriel, “Despite the financial gains afforded by a college degree, minority graduates suffer greater losses of wealth than their less educated counterparts.” The idea is that, right after college you start working rather than “wasting 4 years in college” and work your way up. However, that just puts an even greater financial gap between the wealthy and the poor since low-income students are just settling rather than truly exploiting their

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