Student loan forgiveness

The day of college graduation is a day that every student dreams about. The completion of the final step of education before the beginning of your life and career. But with all the excitement of a new life and career comes the burden of paying student loans. With student loan debt totalling at about $1 trillion student loans have surpassed credit card debt. Student loan debt are restraining graduates from moving on and excelling in their profession. “It definitely holds you back. It’s hard to move forward in your life and career knowing you have this debt," (Smith, CBSLocal.com) Graduates are so overwhelmed with student loan debt that it affects different aspects of their lives. "I've actually met people who are afraid to tell their partners what their debt is. They are so terrified that this is going to be a deal breaker." (Fudge, CBSLocal.com) With student loan debt becoming a major issue in the United States student loan forgiveness is not only a very reasonable option but it seems like the only option for graduates to be able to move forward with their lives. Student debt is distressing for many students and an increasing amount of graduates are incapable of paying back their student loans on time. Delinquencies on student loans have risen dramatically over the past decade: 11.5 percent of graduates were at least ninety days late on paying back their loans at the end of 2013, compared with 6.2 percent delinquencies on student loans inrograms as enabling students to be lazy and irresponsible. For example economist Thomas Sowell condemns students as "irresponsible"..."the increasingly easy availability of college to people who are not very serious about getting an education." (Sowell,132) Sowell ignores the value of encouraging education including education of those who don't finish college or who aren稚 scholars. Many in the United States education has a greater value than that of a mere commodity and even from an economic perspective such as Sowell痴the