A student graduates from college and in ten years is forced to work a low-paying job that has nothing to do with their major just to pay off their college debt. Now imagine an alternate scenario where the student took into consideration every aspect of their future and goals before deciding what to do about college. Now, in ten years, this person is doing a job they love and not utterly overwhelmed with the debt they have. It is crucial to get some education, but the type of education and how much one spends on that schooling can determine the rest of a student’s life. College education is worth a cost, but it is not always necessary for that amount to be immense. Getting a college education can benefit one monetarily. For instance,
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For example, “Those who borrowed for a bachelor’s degree granted in 2012 owe an average of $29,400” (“Is College Worth It?”). That amount of debt can be exceedingly burdensome to pay off without a well-paying job when taking into consideration students also have to pay for their living expenses at the same time. If someone decides not to go to college, they may make less, but they do not have to worry about paying off college debt. This is an idea college students need to take into consideration when deciding to go to college, especially if they know it will require a substantial sum of debt. In addition, “The Project on Student Debt, a non-proft, says that 15% of borrowers default within three years of entering repayment" (“Is College Worth It?”). Defaulting on a loan means being unable to pay it back. If students are unable to pay back their debts, it is obvious that they are overwhelmed with the debts they acquired to obtain their degree. The price of the degree they earned impacted their financial life greatly in the years to come, probably more than they expected it to. For these people, going to college was not worth the cost because they were not able to balance out the costs of their education with the income they came into after they
For example, “Those who borrowed for a bachelor’s degree granted in 2012 owe an average of $29,400” (“Is College Worth It?”). That amount of debt can be exceedingly burdensome to pay off without a well-paying job when taking into consideration students also have to pay for their living expenses at the same time. If someone decides not to go to college, they may make less, but they do not have to worry about paying off college debt. This is an idea college students need to take into consideration when deciding to go to college, especially if they know it will require a substantial sum of debt. In addition, “The Project on Student Debt, a non-proft, says that 15% of borrowers default within three years of entering repayment" (“Is College Worth It?”). Defaulting on a loan means being unable to pay it back. If students are unable to pay back their debts, it is obvious that they are overwhelmed with the debts they acquired to obtain their degree. The price of the degree they earned impacted their financial life greatly in the years to come, probably more than they expected it to. For these people, going to college was not worth the cost because they were not able to balance out the costs of their education with the income they came into after they