Debt

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…

grad school graduate. According to Avery & Turner (2012) “total student loan debt rose to over $800 billion in June 2010, overtaking total credit card debt outstanding for the first time” (p. 165). We are borrowing more than ever, and there is no slowing in sight. If things do not change it would seem as if we are headed for another financial bubble, only this time rather than a mortgage crisis, it will be a student debt crisis. Students are responsible to control the costs of their…

One in five households in America owe students loans. Student debt is a rising problem in the United States. Back in 2008 there were 40 million people that had outstanding student loans (CNN). Since 2008, that number has gone up to 43 million (Irwin). The numbers keeps increasing as the years go by due to the rising cost of attendance. Since those numbers keeps on increasing it makes it hard for people to better themselves. Six months after graduation, the lenders expect the borrower to start…

having personal problems outside of school. Obstacles like these can affect a student inability to do well or attend school. It can force a student to drop out of school or flunk out of school. The biggest challenge out of these is student debt. Student debt is a difficult to deal with because it can stress someone out financially. Many students have bills that they have to pay for such as rent and car insurance. Also, many have people that depend on them such as their children or parents.…

for me as I have been thinking about my debt and know that I need to get a handle on things. While I do not have a house payment, the HELOC and the high credit card debt I carry are a concern, particulary as I begin to think more about retirement. I do put as much as allowable into my retirement and I own stock in several major corporations, but this exercise was effective in showing me how much money I waste each year on interest. After calculating the debt payments I was shocked to learn…

lifestyle they had at home. These new expenses will include board and a meal plan or rent and a grocery bill as well as transportation, clothing, entertainment, personal care and other necessary expenses that come with living alone. In order to ovoid debt, students need to learn how to manage their money by looking at all of their necessary expenses, making a budget and sticking to it no matter what. When looking at whether to live on or off campus students need to take in consideration the…

Drowning in Debt The concept of fiscal responsibility, to a majority of students, represents a new, unexplored terrain and their lack of knowledge allows the experienced system to entangle the fresh meat into their web of suffocatingly high, predatory interest rates. To express his frustration with the credit card companies, as well as sympathise with the students, Mancias asks then answers the question, “Who is to blame for this situation?” (274). The answer to his question becomes his thesis…

have a very successful life. This dream tends to be impossible for those students who are in the low and middle class range. The expense to go to college tend to be too much and makes those students who want to go are put into a deep whole of student debt. Going to a college in America is expensive yes, for those who are in a low-income home they do give us financial aid but that is just not enough. Those students who find them self in middle class income get nothing and they must pay for…

When people are in debt, there are many debt management companies that are willing to help them. They manage the debt that someone is in by taking one monthly payment; working with the lower payments and lower interest. But the person can also manage their own debt, without help of others. It is not an easy task, but people are able to do it. According to Dave Ramsey, good debt management is 80% behavior and 20% head knowledge. There are many advantages and disadvantages about debt management.…

Student Debt an Issue Facing Young Adults What is the biggest issue that faces young adults today from the ages of eighteen to twenty-five? It seems like this age group is always the one to face some form of struggle in their life. Some people think that it is money, employment, or social life, but the biggest issue young adult’s face is student debt. It is defines as money that a college student borrow either from the government, school, or a private loaner. It accounts for nearly 40% of…