The Advantages Of Student Loans

Improved Essays
The majority of United States citizens want to attend college, but some simply feel they cannot afford it. College is expensive but there are ways to make it more affordable such as grants, scholarships, and student loans. Plenty of opportunities are given to college students to help pay for their tuition, but many don’t take advantage of these great opportunities. As a result, it has created an endless debate on whether student loans are affordable or if they are a crisis within the country. Allan and Thompson offer a great argument for the affordability of student loans, while Lewis and Zaidane take the other side of the debate and argue that student loans are a crisis for many college students. Although Allan and Thompson’s opinions on …show more content…
Lewis and Zaidane state, “The cost of public universities has more than doubled since 1988”, which supports the fact that almost half of adults between the ages 18 and 34 without degrees cannot afford to go to college. College is more expensive than most people are willing to pay and this mainly effects the lower class citizens. Parents who are considered to be within the lower class simply cannot afford to send their kids to college, and this results in a low paying job for that child who then passes it on to his or her family and the cycle continues. Lewis and Zaidane are trying to point out in their argument that the cost of college has increased so much that it is discouraging many people from going to college, thus effecting our economy negatively. Another point Lewis and Zaidane make is that there are way more degrees than there are jobs.”53% of recent grads are unemployed or not using their degree”, (Lewis), the job market is so competitive that although a student puts in the time and effort to earn this degree and get a job they aren’t always able to. This causes the graduate to be unable to pay off their student loans because they do not have a good paying job, and the graduate is then overwhelmed with debt. This results in an increase in federal student loan delinquencies to shoot up and become a crisis within our country like Lewis and Zaidane stated. It seems to be that Lewis and Zaidane are saying the root cause of the student loan debt crisis is not the fact that students aren’t paying off their loans, but the continuing increase of tuition

Related Documents

  • Improved Essays

    In “Debate on Student Loan Debt Doesn’t Go Far Enough”, Robert Applebaum expresses his concerns when it comes to student loan debt. Applebaum is a graduate of Fordham University of Law who initiated a petition for student loan forgiveness which later was published by The Hill in 2012. Applebaum came up with a proposal of a plan which involved “automatically withdrawing ten percent of the debtor’s income and at 45,000 the loan would be forgiven”. In his essay, Applebaum exclaims that students these days have to mortgage their education because tuition is too expensive due to new stadiums and six-figure administrative salaries. Applebaum believes that student loan forgiveness should be made available to all graduates because a higher education is “a right, not a commodity reserved only for the rich”.…

    • 1011 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    The number of American students in debt keeps increasing day after day. To make matters worse, most of these students happen to come from low income families. So their families are already struggling to make ends meet in their household, but not only that, now they also have to worry about an extra burden upon their shoulders; college tuition. Many students who can't afford to pay these large amounts, usually end up dropping out or putting their careers on hold. According to a statement in the reading, "Almost one in three Americans in his or her twenties is a college dropout, compared with one in five in the late 1960s.…

    • 575 Words
    • 3 Pages
    Improved Essays
  • Superior Essays

    Social Location Analysis

    • 1006 Words
    • 5 Pages

    His point is that the default rate on student loans is pushing college graduates into poverty and reducing any opportunity to get back to a decent economic…

    • 1006 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    Carey Student Loans

    • 567 Words
    • 3 Pages

    The Problem with Student Loans Student debt loans is a crushing problem that plagues many students in the twenty first century. Higher university fees have led to more student debt that punishes students with high interest rates. These high interest rates may lead to damaged credit and future financial instability for students. Kevin Carey tackles this problem in a commentary published in the Chronicle of Higher Education, titled “The U.S. Should Adopt Income-based Loans Now”. Carey offers a solution and a plan to this issue, and does it using comparative dates.…

    • 567 Words
    • 3 Pages
    Improved Essays
  • Great Essays

    Caralee Adams author of “Students Alerted to Loan Debt,” Kim Clark author of “Learning the Hard Way,” and Hollis Phelps author of “A Degree in Debt: The High Price of Higher Education,” explain the consequences of student loan debt, specifically how students are forced to take out large amount of loans because of the “struggling” economy. The three articles stress the need for a higher education to be successful in life. The three articles also showcase a students’ fight for a quality, wont-break-the-bank education. In each of these articles, the multitude and differences of opinions of student loan debt are explored, and combined with each authors take on the consequences of debt that come along with the price of higher education. Adams, Clark,…

    • 1620 Words
    • 7 Pages
    Great Essays
  • Great Essays

    It’s hard to believe that once upon time, Americans did not have the dreadful worries of finding a way to prepare for the financial necessities for college. Now, college is becoming more of a dream rather than a reality as high tuition rates becomes the number one reason why Americans are not advancing themselves into higher education. In some cases, there are college students who receive full-ride scholarships to the college they desire; however, the majority of those who do go to college do not obtain the same luck. Those students who do continue their education and go off to college find themselves short of financial aid, out-of-pocket cash, and even scholarships. This causes students to resort to taking out a student loan.…

    • 1550 Words
    • 7 Pages
    Great Essays
  • Great Essays

    Student Debt Economy

    • 1818 Words
    • 8 Pages

    Student Loan Debt and the Economy Ever since the idea of going to college was created students have always worried about how they were going to pay for it. In 1958 the government thought of a solution and the first federal loans for college were introduced (New America Foundation). shortly after former students started to struggle with paying them back, 57 years later students are still fighting the same battle. with interest rates and the costs of tuition rising students are still encountering the same hassle if not even worse.…

    • 1818 Words
    • 8 Pages
    Great Essays
  • Improved Essays

    Across the country, college dreams are being dashed by rising yearly tuition prices. The increase of annual college tuition prices has become such a substantial problem that the percent of students attending college after high school has dropped from 70.1% in 2009 to 65.9% in 2014 (Is College Tuition Really Too High?). (2) Of course, college is a business, and needs money for upkeep, supplies, upgrades, and salaries for the professors. (6) However, the argument pales in comparison to the facts that are present within the declining number of students going on to college yearly, and the consequences of these declining numbers.…

    • 864 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Education has increased in price over the years. With tuition rates ranging from at least $40,000 per semester, students have no choice but to take out loans. As some loans are abundant, these options have become widely accessible to pay off these costs. Sadly, these decisions have accumulated debts over a college student’s career. With few articles supporting from Megan and Gillispie, these loans can lead to detrimental problems during and after college.…

    • 905 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Research Paper In the last decade there has been a significant spike in student loan debt. Within the recent years there has been an increasing number of Americans whom are overwhelming burdened by student loan debt than ever before. Statistics show that Americans owe nearly $1.3 trillion dollars in student loan debt alone. The process of borrowing loans to assist with the cost of postsecondary education in the US has recently become a normal occurrence throughout this past decade.…

    • 705 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    In today’s American society, the average college graduate leaves college with a whopping $37,172 in student loan debt. Crippled by constant payments, many struggle to keep up with payment plans. On top of that, federal student loans encompass an interest rate, which has a limit of 8%. Because the interest rates are so high, graduates can end up paying double the original loan amount. Coming from a large family, I have had first hand experience with the effects of student loans, and what it can do to a blossoming individual looking to start a new life.…

    • 822 Words
    • 4 Pages
    Improved Essays
  • Superior Essays

    As tuition and fees continue to get higher, scholarships will be more challenging to achieve, and the student will have to get multiple student loans to cover it. “Tuition and fees at public colleges soared a record 14 percent this year, continuing a quarter-century trend of higher-education prices rocketing faster than inflation,” (Price 3). It is true that the government has not always funded the children through the twelfth grade, but times have changed, (Kingsley 16). On one hand, some would argue that students can get apply for a loan or financial aid to pay for college. Education is not free now does not mean that students are prohibited from entering a college or university for a higher education.…

    • 1483 Words
    • 6 Pages
    Superior Essays
  • Improved Essays

    Everyone has stressful challenges in their lives. It can keep you up, stealing your sleep and your thoughts. What is it that keep up at night? Is it the payment you need to do? Or a lover you broke up with?…

    • 1119 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Each year the cost of higher education goes up, schools find a way to charge more for something new. Most 18 year olds in America go to college to get a good job. That is why this country’s’ students have racked up 1.1 trillion dollars in debt. People say you cannot put a price or value on education, but a four year degree at a United States college racks up to at least 60,000 dollars. The price of college has risen more than four times faster than inflation since 1978, but most of this money hasn’t gone toward the betterment of education.…

    • 2322 Words
    • 10 Pages
    Improved Essays
  • Improved Essays

    Education and Citizenship. Do they go hand in hand? Is education required to be a good citizen? Yes, and No, A good citizen should know how to vote, to keep up with current events, laws of their country and so on and basic human rights. Yet they are not taught this in school but instead they are taught useless things which is a waste of time and money.…

    • 828 Words
    • 4 Pages
    Improved Essays