The Current Balance Of Federal Student Loans Nationwide Essay examples

885 Words Mar 1st, 2016 4 Pages
“The current balance of federal student loans nationwide is $902 billion, with an additional $140 billion or so in private student loans.” ( Martin, Andrew, and Andrew W. Lehren, 6) Many people are getting into a whole of debt while trying to receive a higher education. Some ways to of getting a higher education and not having the burden of a large amount of debt over your head is to obtain scholarships, work while you go to school, or go to a community college. In addition people are coming out of college with mountains of debt. In our day and age college is getting harder and harder to afford. “The average cost of a public college will have more than doubled in just 15 years.”(Martin, Andrew, and Andrew W. Lehren, 5) This just goes to show that it will be much more difficult for students to attend college with these already high tuition costs rising. Furthermore, those who are stacking up all this debt from getting a higher education can 't even pay them off. As it says in the article “Even if student loans are what many economists consider good debt, an increasing number of borrowers are struggling to pay them off.”(Martin, Andrew, and Andrew W. Lehren, 6) Going to college is a good thing but not if it 's going to hinder you financially. This type of debt will affect your life entirely.
Moreover, one way to avoid this bottomless pit of debt from going to college is to get scholarships. One reason why obtaining scholarships is a good way to dodge college debt is because…

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