High School Diploma Should Be Abolished Essay
Did you know back in 1950, just over fifty-four million adults over age 25 in the US alone, didn’t graduate high school with any sort of diploma? Thankfully, that number has gradually been decreasing over the years, at the beginning of the new millennium (2000) the number of people that don’t graduate without a degree is roughly half that at around 32,000 million. That number as of recently, is at a record low 24 million people, an incredible achievement given the fact this decrease in no high school diploma has been a result of increasing number of college degrees. It’s inevitable that going to college, students go into this maze not sure what choices to make or not, all their of decisions will based be on the idea of whether or not dealing
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As told in Source 4, “lifetime earnings for a college grad are substantially higher than the earnings of someone without a college degree, even when you deduct all the money you would have if you had been working full time and the costs of student loans.” What this means is the student will still earn more money, and be able to pay off their debt faster (eliminating the chance of interest building up).
On the contrary, when it comes to loans affecting millions, it’s becoming a near epidemic on a national financial scale. Students are expected to pay off their debts, often within a 3-4 year time span of interest free payments. A study from Equifax, states that “13% of students were defaulting on their loans within three years of graduating reported the Department of Education in late 2013”. It’s difficult or near impossible for students to pay off their debts within the time frame, or more. In the end, it’s always up to the student to decide whether or not the degree they earn from attending college is going to be worth the amount of student loan debt that they might receive. But with that said, if the student is dedicated, and will take full advantage of the degree he earns. The cost of debt (sum of books, and class costs) to get the degree in the first place is greatly overshadowed by the net income the student will
As told in Source 4, “lifetime earnings for a college grad are substantially higher than the earnings of someone without a college degree, even when you deduct all the money you would have if you had been working full time and the costs of student loans.” What this means is the student will still earn more money, and be able to pay off their debt faster (eliminating the chance of interest building up).
On the contrary, when it comes to loans affecting millions, it’s becoming a near epidemic on a national financial scale. Students are expected to pay off their debts, often within a 3-4 year time span of interest free payments. A study from Equifax, states that “13% of students were defaulting on their loans within three years of graduating reported the Department of Education in late 2013”. It’s difficult or near impossible for students to pay off their debts within the time frame, or more. In the end, it’s always up to the student to decide whether or not the degree they earn from attending college is going to be worth the amount of student loan debt that they might receive. But with that said, if the student is dedicated, and will take full advantage of the degree he earns. The cost of debt (sum of books, and class costs) to get the degree in the first place is greatly overshadowed by the net income the student will