Sweetland, Edwards H., Altman Alex, Miller Zeke J., and Thompson Mark. But Can America Afford This Approach to Solving Student Debt? Vol. 186. , Time, 2015, pp. 92-99. Academic Search PremierAccessed 2 Feb. 2017.…
With the rising problems of unpaid student debts, it was obvious as to why congress lower student loan allotments. Federal student loans are controlled by the US Department of Education under the National Defense Education Act. Considering the fact that I am living off of my student loans right now to both go to school (3.62 GPA) and live since I don’t work, the reduction of student loans greatly concerns any decision I make financially. The decision to reduce the loans scares me for the present.…
The student debt in the United States alone is in the trillions. According to Forbes and the Federal Reserve Bank of New York, the student loan debt is between 902 billion and 1.2 trillion (How). Since the economy took a plunge in 2008, a big issue is that not enough graduates are able to find job opportunities that can help pay off their debt, and on top of that support themselves independently. “Americans who received bachelor’s degrees in 2008 were roughly twice as likely to be unemployed after a year than were their peers who graduated in 1993 and 2000…(Inside).” The supply and demand of employment is slim and fiercely competitive. Of those that had the opportunity to get a job, 27 percent of them reported that it was unrelated to the degree…
The main idea of this essay is to present the purpose of Student loans and their effects on college expenses. “Is student loan a lifetime situation”? “Are students frustrated with college loans”? Is making a decision to borrow money in order to attend college often amounts to a “financial disaster”? “People not paying attention to their debt”? “Is this generation only thinking about the next month’s payment”? “Are students graduating with an enormous amount of debt equal to a mortgage on a nice home”? Main perspectives will be impending from the author Robin Wilson.…
“In Debt We Trust America” was an incredibly eye-opening video for me. Family and friends constantly warn me of the dangers of debt, but I was unaware of just how much of a problem it is. For me, one of the most informational, or perhaps motivational parts of the video, was the portion on students in college. Constant increases in college tuition are putting a more drastic burden on college students and their families. In the video, it mentioned that the…
Student loans become something that students have to worry about for the rest of their lives. Debt will affect a lot of things in their life that college students don’t think about. A lot of students do not realize that they must back the loan plus interest, the interest on some loans can end up being more expensive than the loan itself. After school, they must find a job, pay for living expenses, and pay off their loans. People take on massive amounts of debt and they don’t think of the consequences. They end up with so much debt that it takes them their entire lives to pay off the loans and money they borrowed. Dwyer, et al. writes that taking out loans makes it more likely that a student will complete college, to a point. Students who keep…
With banks and financial institutions rising their interest rates on student loans, student debt is literally killing many americans. College graduates are trying so hard to be able to cover their personal expenses and pay their student loans. How will they rise financially if they are working and barely being able to pay everything? They keep working and their salary barely covers all student, credit card, and personal debt. This is where inequality becomes a problem.…
Out of all the students that go to college more than half of them are in debt after graduating. In high school all you hear your senior year is “you need to do this in order to go to college”, “you need a degree to get ahead”. You work 12 years to get a diploma and then get told that in order to go “further” or “do better” you need a degree, but what they don't tell you is that you will most likely be in debt for the rest of your life.…
The story of student loan debt isn't too often talked about, students don’t take it too serious like they should. College students that barely have time to work spend four years thinking about the student loan; how it will affect their life after college; how they will manage to pay it later. Seven in a total of 10 seniors that graduated back in 2015 had a student loan debt average of $30,000. It had increased 4% comparing to 2014 graduates. Within the years, student loan debt has grown at twice; America colleges graduates are lucky if they have some money left to pay the bills, or even to eat regularly. Every year the debt is increasing, but when this will stop? "I believe we have a higher education bubble," says Derrick Handwerk, managing…
About half of all students (49%) graduate college with a total debt count of over 30,000 dollars in student loan debt alone. When you add all this debt together, college graduates and students have a total combined debt of approximately 1.2 trillion dollars. With that much money at hand you have to wonder how these students can manage to buy a house, car, or start a family once they have graduated and pursued…
College debt is a nation-wide phenomenon that many Americans face. Unfortunately, this country is facing over 1 trillion in student loans from dropout students or graduated students who owe money from their years of education. The financial crisis has caught many Americans by surprise and this problem will only get worse if this trend continues. Despite the fact that college debt is increasing, fortunately there are several solution to this problem.…
The issue of student debt affects so many people worldwide on a day to day basis. As of 2015, student debt is more than $1.1 trillion dollars (Cook, 2015). This crisis of student debt that has risen overtime has caused major debate and discussion to families, policy experts, and politicians (Cook, 2015). As a result of trying to attain a career, students that are not financially capable of supporting their education and have no choice but to acquire student loans that will in turn become student debt. The impacts of student debt are seen to affect each individual differently depending on their financial and mental status. Additionally, the type of college each student attends will determine how dramatic their debt will be (Cook, 2015).…
There are many people who want to attend college but struggle with the expenses. Attending college and graduating with a degree will help people live comfortably and achieve their dream job. Many good paying jobs usually require a degree of some sort and people attend school with the help of borrowing money which puts them in debt. School debt piles up after each year of school a person has attended. The problem of college debt has several solutions, and one is superior over the others.…
Beginning in the 1960’s the distribution of federal and non-profit funds have given students all over the United States the opportunity to pursue post-secondary educations. Although this method has given students the ability to go to college financially, the majority of the students are not able to pay the money back when finished causing debt. Currently students in the United States owe more than $1 trillion dollars worth of federal and private student loans. Surprisingly this number has surpassed the country’s credit card debt which is $852 billion dollars. This years presidential election has many serious & interesting topics being discussed such as gay marriage & immigration, but the topic of student loan debt is of high importance and relates to the majority of the country. More specifically student loans are affecting African Americans more than any other race today. Due to the economic state of the country and their lack of knowledge on student loans the majority of African Americans are unable to repay their loans. Student loan debt is one of the biggest issues facing African Americans in the 2012 presidential election due to their limited knowledge on student loans, cost of college, and the economy of the United States.…
This year the average college student will graduate with at least $20,000 in student loan debt (College access and success). For years higher education has been worshiped with God like influence as a way to escape poverty and attain a career and live the American life. With the rising college tuitions it has become increasingly harder for the middle class to afford college and reap the benefits. Seven out of ten students, will have a burden over their shoulders for years to come as to how to repay the debt. Debt is no respecter of persons: business owners, single parents, teachers and seniors to this day are still constantly bombarded with debt.…