Argument Essay: The Impact Of Student Loan Debt On Society

Improved Essays
Student loan debt is becoming an ever prevailing topic in today’s society. In the current world, most jobs are requiring a college degree for all their employees. With this change in jobs, more and more young adults have decided to attend college. As the price of colleges continues to rise, many students are forced to take out multiple loans. As stated in the article, there is currently about 1.2 trillion dollars in student loan debt currently in the country; about eight million of all students with debt will default on these loans. With this in mind, and the upcoming election in 2016 for President of the United States, many politicians are actively trying to create plans to help reduce the burden of student loans. One politician who is having …show more content…
College graduates will now have the opportunity to utilize new refinance options to help lessen the burden. In the same way, now students who attend a four-year public college or university will not have to take out loans to cover the overall cost of college. In a similar way Hillary Clinton impacts society, the plan will have an impact on my personal life. If the plan is put into effect, I will not be stressing every time a payment is due that I cannot pay for. With the plan, I will be able to the refining options to fall back on if my student loans get to aggressive. Hillary Clinton’s student loan plan, if put into effect, will have a great impact on the personal level of society. If Clinton’s plan is put into effect, the plan could have a positive effect on the economy. Students who would regularly take out loans now do not need to. The money that would originally be used to pay back student loans can now be put back into the economy. Additionally, those who are struggling with debt can take the money that was used to pay off the loans and put it into the economy. Although the plan could be beneficial to the economy, the benefit will most likely go to students and recent graduates and minimally affect others as a

Related Documents

  • Superior Essays

    Brianna Binion ENC 1101 August 8, 2016 Bernie Sanders means of persuasion In the article “Make College free for all,” Senator Bernie Sanders uses the presidential election as an opportunity to expose the truth why numerous citizens do not achieve “the American dream” (Sanders 3). Sanders argues that a college education should be free for all citizens. Furthermore, he explains why numerous Americans do not get a chance to go to college. In the article “Make College free for all,” Senator Bernie Sanders effectively uses pathos, logos and kairos to support his argument, however, his use of ethos is not effective.…

    • 771 Words
    • 4 Pages
    Superior Essays
  • 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
  • Superior Essays

    Social Location Analysis

    • 1006 Words
    • 5 Pages

    Students across the country are facing a mounting challenge upon graduation. This challenge is not one that is easily surmounted or circumvented. The challenge is also not limited in scope to one social class or geographical region. The challenge facing more and more students every year is student loans. The loans themselves are not the issue, but rather the excessive amount of debt that tends to follow.…

    • 1006 Words
    • 5 Pages
    Superior Essays
  • Superior Essays

    In the USA Today article called “More Government Aid makes College more Expensive,” the author talks about the government’s plan to fix the student loan issues. Each idea gets criticized and rejected for either pushing the problem on the rich or raising taxes. The authors of “More Government Aid Makes College more Expensive” and “The Student Debt Crisis” agree that there are more and better options that can be used to solve the…

    • 1055 Words
    • 4 Pages
    Superior Essays
  • Improved Essays

    Student Loan Debt

    • 383 Words
    • 2 Pages

    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.…

    • 383 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    College Tuition Costs

    • 639 Words
    • 3 Pages

    (Student Loan Hero) “Americans owe nearly 1.3 trillion dollars of debt in student loans” so that leave them to pay a debt for almost all of their life. But when college tuition cost is lowered then there’s a possibility that it can raise taxes because if herd of the quote “No free lunch” meaning there is always going to be someone who pays for stuff when the price is lowered then that raise the prices or taxes then that money will be used for someone else education even though they are not going to college. Then the instructors will get paid less since the price of college tuition has been cut so that…

    • 639 Words
    • 3 Pages
    Improved Essays
  • Superior Essays

    The plans are so new that many people do not understand how they work nor how well they actually help borrowers. Sophie Quinton addresses how many students take out loans because of the belief that working certain jobs will pay off your loans, which is often incorrect. She concludes that “policy adjustments are needed to ensure that students don’t get too comfortable taking on debt and institutions don’t get too comfortable charging high…

    • 1447 Words
    • 6 Pages
    Superior Essays
  • Superior Essays

    Student Debt Causes

    • 1036 Words
    • 5 Pages

    The student debt crisis is more apparent today than ever before. With student loan debt in excess of 1.3 trillion dollars, and rising at a rate of 3,000 dollars per second, it is easy to see why so many consider this a crisis. This is affecting 43.3 million Americans who split the debt in a negative manner. In April, the Education…

    • 1036 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    Student Debt

    • 1052 Words
    • 5 Pages

    Sixty percent of college graduates have an average debt of $16,033 (Gitlen). In 2010, Americans owed more than $875 billion on student loans, now that number has reached $1.3 trillion (Gilten). Many students do not get enough scholarships or grants to pay for the traditional four-year university, so they take out student loans. According to Beth Braverman, a writer for The Fiscal Times, “Those who need to borrow a large amount of money to finance their education, or who are going into a profession that doesn’t pay very well, will have more financial security if they attend a lower-cost school and don’t have to struggle with substantial debt payments after graduation.” (Braverman, par 6).…

    • 1052 Words
    • 5 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

    As the demand for a college degree is on the rise, so is college tuition costs. The cost of college tuition has increased more over the past few years than ever before. As Nicole Allan and Derek Thompson state in their essay, The Myth of the Student-Loan Crisis, “The costs of college has spiked 150 percent since 1995, compared with a 50 percent increase in the costs of other goods and services” (380). To help pay these unbelievable cost increases, student loans climb as well, putting…

    • 1043 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Free tuition and no debt for students attending higher education within the United States seems like a terrific proposal, however, there are several hidden small prints that may result in certain disadvantages for Americans. Many colleges across the country already offer student loans and other scholarships for low-income families in order to provide accessible education. Moreover, if this plan turns into an official policy, expenses for federal and local governments will increase up to $75 billion annually, only in public universities and colleges. As a result of such expenditures, nationwide increases in taxes would be significantly reflected and Wall Street will be the central target. According to Michael Hiltzik, a reporter for Los Angeles Times in the article “How free college tuition would become a giveaway to the rich” he argues that,…

    • 385 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Student Loan Crisis

    • 818 Words
    • 4 Pages

    These days, it is common knowledge that college is expensive. Most who attend college must take out student loans to even afford it. Although some believe the student loan debt crisis is purely fictional, the student loan crisis should not be considered a myth like Chris Lewis and Layla Zaidane suggest in their article “Here’s Your Crisis: Student Loan Debt Isn’t a Myth.” Due to financial aid and students not taking advantage of student loans, people believe student loan debt should not be considered a crisis, while others argue high college tuition rates and the weak job market are reasons to believe it is a real problem. One reason people think the student loan debt crisis is mythical is due to the financial help students usually get.…

    • 818 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Best, J., & Best, E. (2016). The shifting landscape for student loans. Society, 53(1), 51-55. doi:10.1007/s12115-015-9972-5 This scholarly article discusses how student loan policies are leading to repayment problems for graduate students. It discusses how the majority of policy proposals are set up for students with higher loan balances rather than those with lower balances.…

    • 1145 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Essay On Student Debt

    • 1075 Words
    • 5 Pages

    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).…

    • 1075 Words
    • 5 Pages
    Improved Essays