In the article, “ The Largest Predatory Lender in America” by Kevin Cochrane makes valid arguments against our government itself and reason for increased student debt. The title itself explains the overall concept of the article and is ironic because The U.S acts like a “predator” looking for their next victim and preferably which are low income minority borrowers. An organization that targets a certain population would typically be investigated under the government but in this case it’s our government itself.
There are many arguments on the increasing tuition for students attending college in the U.S. In the article it states that The Federal Reserve Bank of New York reported that, “ student loan debt has nearly tripled and the number of …show more content…
This is preposterous because in only a decade tuition has tripled just to get a better education. Although it is quite difficult to get free college due to economic reasons, the government in which we have enlisted our trust on should be more sympathetic to students especially when 70 percent of them are in debt after college. This could possibly mean 70 percent of people of my generation will be in debt basically their whole adult life and could be over one hundred thousand dollars in debt by the age of 23. It extremely shocking because the government is instigating the increase in debt within students. The question now is why is tuition increased so heavily in the past ten years. The article, then goes and and says that, “ while college administrative and overhead expenses have increased during that time, their increase stands at only about 3 percent—it's hardly the cause of such rampant tuition inflation” (www.weeklystandard.com). This …show more content…
In simple terms all i’m hearing is that we had a nation from where if we drop out of college we would be debt free and basically just free, to a nation where dropping out of college makes me thousands of dollars in debt with no degree to show for it. This is depressing because why pay for an education you never fully got. It’s insane that students who drop out have to pay this debt they’ve acquired from trying to further their education, but now they have no degree to help them pay off their debt. How does the government think these people are going to be able to pay it off. This is not a wise path for Consumer Financial Protection Bureau or the federal reserve to take. This is a bad investment of their part because in order to create innovative thinkers that can eventually help us solve many of our problems we need to be able to access the education. The U.S is trying to get back back on top by creating new systems of education like Common Core but fail to see that they're making it more difficult for people to become more educated. It not shocking that the government is behind all this but it is shocking how much higher
There are many arguments on the increasing tuition for students attending college in the U.S. In the article it states that The Federal Reserve Bank of New York reported that, “ student loan debt has nearly tripled and the number of …show more content…
This is preposterous because in only a decade tuition has tripled just to get a better education. Although it is quite difficult to get free college due to economic reasons, the government in which we have enlisted our trust on should be more sympathetic to students especially when 70 percent of them are in debt after college. This could possibly mean 70 percent of people of my generation will be in debt basically their whole adult life and could be over one hundred thousand dollars in debt by the age of 23. It extremely shocking because the government is instigating the increase in debt within students. The question now is why is tuition increased so heavily in the past ten years. The article, then goes and and says that, “ while college administrative and overhead expenses have increased during that time, their increase stands at only about 3 percent—it's hardly the cause of such rampant tuition inflation” (www.weeklystandard.com). This …show more content…
In simple terms all i’m hearing is that we had a nation from where if we drop out of college we would be debt free and basically just free, to a nation where dropping out of college makes me thousands of dollars in debt with no degree to show for it. This is depressing because why pay for an education you never fully got. It’s insane that students who drop out have to pay this debt they’ve acquired from trying to further their education, but now they have no degree to help them pay off their debt. How does the government think these people are going to be able to pay it off. This is not a wise path for Consumer Financial Protection Bureau or the federal reserve to take. This is a bad investment of their part because in order to create innovative thinkers that can eventually help us solve many of our problems we need to be able to access the education. The U.S is trying to get back back on top by creating new systems of education like Common Core but fail to see that they're making it more difficult for people to become more educated. It not shocking that the government is behind all this but it is shocking how much higher