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.…
The first issue that Matthews presents is the fact that over the past four decades, the ordinary high school graduate along with the lowest twenty-five percent generally have similar salaries when working the same jobs. This fact could disappoint a teenager looking forward to pursuing a college degree in order to earn a higher salary and make them question their choices. However, the value of a college degree has increased for everyone, including the bottom twenty five percent of earners, as a result of the liquidation of “high-paying blue collar jobs.” (Matthews). This increase in value still does not take away the fact that someone with a degree does not make more money than someone without one.…
Alice has many goals that encompass her entire life. Using the S.M.A.R.T. system, let’s take a closer look at each goal to assess its viability and priority. While Alice’s first goal is to pay off her student loan, she must first ensure she can maintain her current living expenses. This is a short term goal that needs to be addressed immediately.…
While the upper class has to pay more taxes and higher fees as well, it is the lower class that is stuck with the dreaded student loan fees. People who are in their 30s and 40s who have degrees are still paying off fees (“The Student Debt Crisis” para. 4). If tuition continues to rise then students will be paying for their loans into their 40s and 50s. Both sides agree that the government should be faulted. It has not done enough to help former students fix their debt, nor does it help enough people that are going to be in debt.…
Having a great education is beneficial to have In the long run. It helps you with finding better-paying jobs; apply the skills you learned from college into your career and shows employers that you are capable of being trained to work on the field. But on the contrary, the cost of getting a college degree is becoming more expensive. Although paying through scholarships or having a family with disposable income makes it more accessible, the majority of students pay off their tuition with federal loans. Consequently, after students graduate, they end up with tremendous loan debt and has to pay it after a couple months.…
Student loan debt is one of the many financial issues that we in America are faced with today. Not only does this debt have detrimental effects on the economy, but it is directly affecting students who would like to pursue an education, but fear the dreaded debt that accompanies it. Graduates are completing school with exorbitant amounts of debt and are being expected to start making payments within 6 months of completing their degree. How are students expected to start living their lives with massive amounts of debt after freshly graduating school? This issue is increasingly important to me because I am one of the students that will have to be dealing with this issue in not too long.…
Student Loans On the topic of students loans, I feel like there are only two side that could be talked. One being that students are a terrible thing for student to invest in and the other being that student loans are the most effective way of ensuring your tuition is paid. When doing research on this topic, I discovered information that covered both of these side. Personally, since I am a student that has already used student loans I am all for the use of student loans.…
There is many problems with student loans. College is a choice that everyone has but, A Lot of people have trouble paying for college. Americans owe over 1.4 trillion dollars in student loan debt. People are not making enough money to pay it back. The interest rates are going up as we speak.…
Over time college wage rate and high school wage rate difference has grown. Students thus are more likely to borrow loans because they believe they will make more money after attending…
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?…
Student loan debt has increasingly become an issue, not only for those who have acquired it and must deal with it, but also for the economy. To function normally in today’s society, pursuing a college education is a requirement for those who want a high paying job. With this decision, students also decide to take on large amounts of student loan debt and the long-term turmoil that it inevitably leads to. Student loan debt impacts students purchasing power which negatively impacts the economy. Over 42 million people owe $1.3 trillion in student loans (Rosato).…
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!…
To aid the gap between rising cost and flagging aid more students have turned to student loans to compensate being able to afford their college education. This deems the question are students making the best decisions in regards to the amount of education they should pursue and how much money should be invested to earn this learning? The average debtor has $37,172 in student…
In the essay “Student Loans: Should some indebtedness be forgiven” by Robert Applebaum, the author argues that, like the essays name indicates, because the financial burden that student loans have become, after some reasonable repayment period, legislation should forgive excessive student loans. Applebaum points out that education should be a right and not a commodity. He points out that Americans are overpaying for their education and that there is no connection between the salary expected to be paid upon graduation and the tuition paid. He supports this statement by bringing to light that every other industrialized country has already figured out how to pay for higher education for its citizens. Furthermore, the author suggests that the student…
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.…