There are around 19 million students enrolled in college in the US, should a student be just another statistic? Many kids and young teens are encouraged to go to college by their parents and most adults. Why? Because Americans have always believed that gaining a degree is essential if they want a better chance of landing a job and increasing their income. However, that is not always the case according to Stephanie Owen and Isabel Sawhill. Owen is a Ph.D. student in policy and economics at the University of Michigan and was a research assistant at Brookings’ Center in Washington D.C. Sawhill is also a senior who attends Brookings and is learning economic studies. In their essay Should Everyone Go to College, they emphasize that young adults …show more content…
Liz Addison is a former college student who attended 2 community colleges in the states and one 4-year college in London. She goes on to praise the American community college system and compares it to an expensive 4-year university in her essay Two Years are Better than Four. According to Addison, “The philosophy of the community college, and I have been to two of them, is one that unconditionally allows its students to begin. Just begin.” In other words, Addison believes that college, specifically community college is meant to be a beginning, a start for students to discover themselves and what they want to do. Community college is accessible to everyone who wants to go to college for a better price than what a 4-year university might cost. Addison corroborates this idea by saying, “The community colleges of America cover this country college by college and community by community. They offer a network of affordable future, of accessible hope, and an option to dream.” The essence of Addison’s argument is that students don’t have to spend a small fortune to have a future, it can be affordable, and it is within reach. Community college can be a good choice for those who are afraid to spend a lot of money just to have an education. With additional financial help, education can be easily accessible to …show more content…
Student loans can spiral out of control if it’s not being treated correctly. This was the case for Rodney Spangler, a student who enrolled at the University of North Texas in 2001. Spangler used to take student loans every semester before leaving school without a degree. Charles Lehman, a writer for the Washington Free Beacon, wrote about Spangler and his student loans alongside the overall theme of student loan debts in the country. In Lehman’s essay The Student Loan Trap, he states, “Of course, it’s possible to go on living with a five-figure debt hanging over your head, but it imposes more than its fair share of limitations. When Spangler tried to get a job in law enforcement, he met all the requirements, but was denied because of his credit score.” Lehman’s point is to show that Spangler is one of many adults who can’t get the job or the things they want because of bad credit. What’s the reason behind these low credit scores? Because of massive amounts of student loan debts. To understand how widely this affects most college students, Lehman researched the approximate amount of money that has accumulated because of student loans. He states, “Spangler is not alone: he’s one of the 44 million Americans who holds student debt, 30 percent of the population who have attended college. Together, they owe about $1.5 trillion, a bigger burden than credit cards, auto loans, or any other
As we read “A Lifetime of Student Debt? Not Likely” we learn that the title is correct if student loans are used wisely. Many don’t pay attention to the debt they are building. Whether it is important for them to go to a certain school, or to always be partying, students will quickly use all the money they have. For some reason, when they find out how much they owe, they are shocked.
A Never Ending Sea of Debt In “Student Debt” on HBO’s Last Week Tonight, John Oliver discusses how awful student debt has become for college students nationwide. In a humorous way, Oliver’s segment on the student loan crisis in America reveals the truth about many for-profit schools, as well as their substantial costs, how they manage their money, and their recruitment processes. Stating some of the leading causes of debt in America, like credit card debt and auto loans, Oliver argues that student loans are a “special kind of debt” that reached over $1 Trillion as of 2012 (1). Oliver supports his claim by pointing out that student loans are inescapable and are the most collectable type of debt; resulting in garnished wages, being non
Accounts of those deeply in debt induces sympathy and stirs up anger in their audiences, and with the repetitive exposure to similar situations presented by the media, student-loans are commonly viewed as money leeches overtaking American
Liz Addison’s essay, “Two Years Better Than Four,” was first published in the New York Times Magazine back in September of 2007. Addison went to two community colleges and majored in biology; earning her degree in 2008. In her essay, she is responding to Rick Perlstein's article “What’s the Matter with College?” in which he claims, “College as America used to understand it is coming to an end” (211). Addison refutes Perlstein’s claims by saying, “My guess, reading between the lines, is that Mr. Perlstein has never set foot in an American community college” (212).
Title: The Student Loan Debt Crisis: A Sociological Analysis The student loan debt crisis is a complex sociological problem that has been affecting millions of Americans. According to recent statistics, student loan debt in the United States has reached a staggering $1.5 trillion, making it the second-largest consumer debt category after mortgages (Federal Reserve, 2021). This problem is significant and important because it affects the financial well-being of millions of people, particularly young people who are just starting their careers. In this paper, I will critically analyze the student loan debt crisis and propose a solution to this social problem. Thesis statement: The student loan debt crisis is a significant sociological problem
Introduction Americans have almost 17 trillion dollars in debt in total in April of 2023, in which around 10% of that debt is student loans. Student loans are a big issue because they contribute to the harm of many student's careers early on, delaying when Americans buy houses, cars and other financial decisions. Student debt is a big dent in the economy, but many say that this is a nessasary evil, required for the population to afford their education. Student debt could mean the difference between your dream school and job but also comes with the downside of debt before your first job. Student debt is problem for many students across the globe but is a big problem In the US.
In the article “Two Years are Better than Four,” Liz Addison argues that community college is better than four year universities, such as the one Rick Perlstein attended. Where Perlstein reminisces about his days in college and claims that the greatness of American colleges is gone. Addison makes it apparent to the reader that she not only disagrees with Perlstein, but makes remarks suggesting that she believes that Perlstein’s college days were less for studying and more for partying and enjoying the fact that he went to a fancy private college. Addison continues by detailing some of the opportunities for people that attend community college such as being affordable, a place for the student to begin, and possibly a better match for students’ lives. She claims that this is the way college is intended to be and by no means is college as we knew it coming to an end.
“Student debt has exceeded credit card debt and impacts about 43 million Americans, sparking a variety of efforts to aid students struggling to afford college (Max Lewontin).” That debt weighs
March 17, 2023 Student Debt and its Impact on America’s Scholars Americans currently owe a total of $1.7 trillion in student loan debt, and if we focus on an individual borrower, that person would carry an average of $30,000 in student loans. Student debt is a known issue in the university system and affects millions of students every year. As tuition increases and mortgages also rise, students have been resorting to borrowing to make their way through school. However, abusing the privilege to borrow a loan will add up over time, causing long term problems in the future. Although loans can be helpful every once in a while, it would be ideal to try to prevent borrowing.
“Today, 45 million people collectively owe nearly $1.7 trillion in student loan debt. Every 26 seconds, one of those student loan borrowers defaults on their loan” (The Student Borrower Protection Agency). These are terrifying numbers that affect everyone not just individual debtors. Student debt is a ripple effect that will affect generations to come. Such problems become even worse for individuals; “these are ‘kitchen table’ financial issues that affect every aspect of their lives” (The Student Borrower Protection Agency).
Liz Addison, who graduated from Piedmont Virginia Community College and Southern Maine Community College agreed that community college was better than a university. Addison believed that a four-year college was for the “privileged class”. Addison viewed universities as the “privileged class” due to students applying at their curriculum vitae. In addition, Liz Addison tells the importance of community college. Addison then goes on to tell how high school graduates have a hard time getting into universities; the odds of entering would be low.
Loans allow receiving a college education seem like a smoother process considering that such a hefty amount to pay is divided so that it can be paid for in moderation. Despite the fact that it’s split into many payments, it’s still a large quantity all in all so unless indebted students aim for high income jobs, there would many years of difficulty to come after college. For this reason, undergraduates make it their goal to go after jobs which would prevent them from being constantly pressured to pay off debt. Thus, student debt is both a crisis and a reason to encourage persistence towards greater ambitions (Hillman, 41). It is a tremendous thing when a student seeks to be financially comfortable or even rich in the future but not when it is for the wrong reasons.
Student loan debt loads have been spiraling, doubling over the last decade, and the enrollment rates of young people from lower socio-economic groups are rising far slower than middle and upper groups. Governments must recognize the renewed public investment in post secondary education is an economic and social imperative. 6.7 million borrowers in repayment mode are delinquent (Snider 1). The sad fact is that many lenders aren't exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans can't be discharged in bankruptcy.
There is an ample amount of information that leads people to believe that college is a great choice. In Source F, it is shown that, “Adults who graduated from a four-year college believe that, on average, they are earning $20,000 more a year as a result of having gotten that degree. Adults who did not attend college believe that, on average they are earning $20,000 a year less as a result.” Also, provided in Source F, “...55% say it [college] was very useful in helping them prepare for a job or career.” While these statistics are true, the negatives still outweigh the positives.
However, the cost, value, and impact of the educational system have become increasingly scrutinized, leaving many to question if modern-day education is still able to fulfill the promise of the American Dream. Pamela Aronson, a writer in the International Journal of Psychology, found that “compared to previous generations, young people have lower lifetime earnings and savings, higher tuition costs and debt, higher levels of anxiety and depression, and difficulty paying back student loan debt,” (3). This surprising reality deters many young Americans from seeking a college education, yet does not prevent them fully. A large number would rather go straight into the workforce rather than be several thousand dollars in debt just after graduation, however, this seems impossible to them. The majority of college students feel that you must have a degree to be successful, “a first-generation white woman said: “I like learning new things, and nowadays you... can’t do anything without [a degree].