Student Debt Case Study

Student debt is a huge concern amongst college students, especially those that attend Rutgers University. Rutgers University has one of the highest tuition rates in the country among other colleges. According to the 2015-2016 annual financial aid report, 23,797 students took out $110,732,898 in Federal Need Based Loans. At this point, student debt continues to rise each year due to the rising cost of tuition and the fact that students can’t get a decent, high paying job. This problem stays ingrained in the back of almost every college student, but in Anthony’s case, it’s on his mind almost every day. Anthony is currently finishing up his last year at Rutgers-Newark University. He transferred here after his second year at Fairleigh
The first payment is always going to be more than the rest of the payments. That’s the biggest piece students have to look at it and realize because some students can’t afford to do that” Said Darlene Brown, former EOF Financial Aid Advisor, Rutgers. It’s bad enough trying to survive taking out loans for four years of schooling, but what about the students that want to or need to further their education in graduate school? The debt alone makes students stray away from furthering their education or have them wait a couple years to gather the income they need to attend grad schooling. I don’t even know if I can make it to graduate school just yet. I need some time off to find a job to at least help me pay off the debt I am with now because graduate school is going to be worse” Said Jessica Hernandez, 22, Rutgers student. Tuition might be every college student’s nightmare, but what about the students that live on campus? Those students have to additionally put money towards their meal plans and living quarters. Also, don’t forget that there are at least 1-3 textbooks required for almost every class, school supplies and if you are one of the lucky ones, you will have a class that will require you to buy extra supplies that will be used once throughout the