The Student Loan Crisis

972 Words 4 Pages
People need to be aware of the issues on education and education reforms. The educational system requires people to pay thousands of dollars for a higher education. Students from all over the nation are forced to take out loans that put them into debt for most of their life. Low-income students also do not have many options nor are they able to afford higher education. The cost of education will keep on getting higher and higher as time progresses and the next President and Congress needs to focus on this problem for students who are in college and for the students who will be attending in the future. Both political parties have different views on education, and only one has the right mindset to fixing this problem. The education issue is …show more content…
On the website, feelthebern.org, college.usatoday.com, and an article by Michael Wenisch (The Student Loan Crisis and the Future of Higher Education), states various ways on how the democratic party will fix the educational …show more content…
The rates are at a high of 4.32%. Bernie believes that the government should not be profiting off student loans. Student loan debt has reached an all time high according to the USSA statistic. Student debt exceeded $1 trillion in 2012. Student loan debt is now close to becoming $2 trillion and continues to grow at a fast rate. In Michael Wenisch’s article “The Student Loan Crisis and the Future of Higher Education,” he states that the total amount of students loans that were taken out in 2010 reached up to $100 billion. Recent graduates are struggling to pay off their debt because they are not able to find jobs in their field after college. “A recent study of 667,000 students who entered re-payment in 2005 found that 15 percent of students in the cohort defaulted outright, and another 26 percent became delinquent in their payments” (Page 345). In Sanders speech at Johnston State College in Vermont, he said, “WE must fundamentally restructure our student loan program. It makes no sense that students and their parents are forced to pay interest rates for higher education loans that are much higher than they pay for car loans or housing mortgages. We must also end the practice of the government making $127 billion over the next decade in profits from student loans.” The vice president of the United States Students Association, Alexandra Flores-Quilty, believes that the nation needs to be addressed about student debt and

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