As Bob sat there looking at the cost to go to the college that he has wanted to go to, he realized that he would never be able to pay the staggering amount of money this will take to go to college. That is, without help from other people. Bob then started calling his friends and family hoping that he could find someone who is able to help pay for college. Sadly, no one could spare any money to help him. Bob knew that the only way he was going to this college was to ask the bank for a student loan. He knew no other option, he had no other choice besides going to a different college where it would cost less to go to, but would not have the classes that he needed to take. This meant that to go to his desired college, he would have to slowly pay
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The average total debt for student borrowers was around $30,000 in 2013.” (Korkki) Every year, more and more people get into deeper and deeper debt just so they can go to college just to pay off the debt that they have. “The high levels of student debt are also serving to perpetuate and even worsen economic inequality, undercutting the opportunity and social mobility that higher education has long promised.” (CNBC) When someone takes a student loan and falls into debt, they have to struggle to save enough money from every paycheck just to pay for their student loans even though they already have to pay for other things they need just to live in a functional house. When it comes to paying off their student loans, it can take someone many years just to finally pay it off and it feels like a huge weight has lifted from their shoulders finally. People tend to fall behind if they owe a lot of money and they might get sued for failure to pay for some time. Luckily, there is help that some people don’t know about. All that people have to do is to go online to get suggestions and advice on how they should go about for paying their debt. When people get student loans, they have to struggle just to get barely by with paying their debt on top of all the other bills they already have. Some people just ignore the debt, but that is a very bad …show more content…
On the other hand, the lifetime return on investment (ROI) for higher education tends to be significant, typically measured as higher income and lower levels of unemployment.” (stlouisfed.org) People tend to take a while to pay off their debt, but every once and a while, someone has managed to pay off their student loans quick enough so that they didn’t have to struggle with it for many years. Those people either didn’t need that much financial support for what they were working towards, or they had a lot of money saved up, or they already had a nice paying job which allowed him to not need to borrow as much money. For these kinds of people, they didn’t have to worry as much about missing their next payment or that their credit will fall from negligence. People tend to struggle with their debts, but for some people, it is all about planning it out right. Student loans have lasting effects on some people and until it gets paid off, they have a hard life of having little to no money except to pay for other bills. Sometimes people get lucky and find a way to pay it quickly, usually they do not find a way, but as long as they keep trying to pay it off, things will get better for them. Because for people that don’t pay at all will have a hard time in life. Getting
The average total debt for student borrowers was around $30,000 in 2013.” (Korkki) Every year, more and more people get into deeper and deeper debt just so they can go to college just to pay off the debt that they have. “The high levels of student debt are also serving to perpetuate and even worsen economic inequality, undercutting the opportunity and social mobility that higher education has long promised.” (CNBC) When someone takes a student loan and falls into debt, they have to struggle to save enough money from every paycheck just to pay for their student loans even though they already have to pay for other things they need just to live in a functional house. When it comes to paying off their student loans, it can take someone many years just to finally pay it off and it feels like a huge weight has lifted from their shoulders finally. People tend to fall behind if they owe a lot of money and they might get sued for failure to pay for some time. Luckily, there is help that some people don’t know about. All that people have to do is to go online to get suggestions and advice on how they should go about for paying their debt. When people get student loans, they have to struggle just to get barely by with paying their debt on top of all the other bills they already have. Some people just ignore the debt, but that is a very bad …show more content…
On the other hand, the lifetime return on investment (ROI) for higher education tends to be significant, typically measured as higher income and lower levels of unemployment.” (stlouisfed.org) People tend to take a while to pay off their debt, but every once and a while, someone has managed to pay off their student loans quick enough so that they didn’t have to struggle with it for many years. Those people either didn’t need that much financial support for what they were working towards, or they had a lot of money saved up, or they already had a nice paying job which allowed him to not need to borrow as much money. For these kinds of people, they didn’t have to worry as much about missing their next payment or that their credit will fall from negligence. People tend to struggle with their debts, but for some people, it is all about planning it out right. Student loans have lasting effects on some people and until it gets paid off, they have a hard life of having little to no money except to pay for other bills. Sometimes people get lucky and find a way to pay it quickly, usually they do not find a way, but as long as they keep trying to pay it off, things will get better for them. Because for people that don’t pay at all will have a hard time in life. Getting