The Student Loan Debt Crisis Essays

818 Words Nov 18th, 2016 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. With grants, financial aid, and scholarships, students typically do not end up paying the full price for college. The average four-year student at Harvard, after grants and scholarships were applied, owed $17,360 as opposed to $27,453 without the additional aid. Only 1.2% of students owe more than $150,000 in student loan debt (Allan). However, grants and financial support have not kept up with the increasing college costs. As of 2016, the average debt of a student at college graduation is about $35,000 (Kantrowitz). While this might not be as high as the previously mentioned $150,000, it is still a high amount, especially with the poor job market. Although financial aid helps with the cost of college, in most cases, students are not given…

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