Student Debt Research Paper

Suze Orman once said “debt is sacrificing your future day needs, for your present day desires” (Suze Orman). According to The Higher Education Quarterly, during the 1980s, a political consensus developed concerning the need to increase participation in higher education. How to finance this increase, however, was a matter of contention. While successive Conservative governments demonstrated a commitment to increasing the number of students, this aim was subordinate to their central concern of controlling public expenditure, which meant they were not prepared to meet the cost of expansion totally from the public purse (Humphreys and McCarthy ). As a consequence, alternative ways of financing students were introduced which, as this paper will demonstrate, have led to a higher education system subsidized by student debt (Humphreys and McCarthy). As stated in Facts on File, the cost of a college education has outstripped the value of a degree. Attending college burdens many graduates with debt that is difficult to repay. In addition, the degree itself is not as valuable as it used to be because college education does not adequately prepare students for a changing global economy. (Issues and Controversies 1 ) The topic of student debt is a subject that is very much disdained yet people fail to realize that it not only affects students both mentally and emotionally, but rather that …show more content…
It is generally realized that powerlessness to pay understudy obligation can bring about a large group of issues, as harmed credit or embellished compensation, yet another study from the University of South Carolina proposes that some evil impacts, for example, expanded anxiety levels or sentiments of exhausted wellbeing, can surface just from collecting understudy advance obligation (Kawachi, Ichiro, and Subramian S.V. 89