The Pros And Cons Of Student Debt

816 Words 4 Pages
The price tag of higher education in America has seen an all-time rise over the past five years. The younger generation of those in their twenties is often referred to as the millennial generation. The millennial generation are those who face the worse setbacks of the rise of tuition and growing student debt. It is important for us to be aware of the real price of education concerning the rising tuition and everlasting student debt. Student debt can provide immediate relief, but to millennials, it is setting them back years of starting a family while also being impossible to erase, and allows the government to profit a large sum each year.
There is a pattern of millennials starting families’ later in life and this seems to be due to the growing
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This is true for debts acquired through businesses, gambling, and credit card debt. Private student loans, however, do not have the option to be wiped clean and will continue long after death. The worst part of student debt is that it is passed on to one 's family after their passing. The lenders will find your next of kin or immediate family and will not stop until each dollar is paid back. In my opinion, this is very extreme for those who chose to pursue an education and contribute to our society. Even though student debt is considered “good debt”, this should also be wiped clean if the event of our …show more content…
Public student loans that come from the government have an average of 4% interest on your total amount borrowed. In 2013, the government had a reported earnings of $50 billion off of student loan interests. There is no clear idea of where this money has been spent, but it should absolutely be invested into the educations of future students. Countries such as Germany and Finland are tuition free and support education in their perspective countries. America on the other hand, has a high dollar amount associated with education. Politicians, law makers, and our government as a whole can take notes on beneficial free education could be in other countries and apply said knowledge here in America. There is a saying that rings true, knowledge is

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