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College Debt Essay

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The Effect of College Debt on Students
Many people take on debt to pay for college. This debt often affects the choices that students will make once they get out of college. Some manage to pay it off relatively quickly while others deal with college debt for the rest of their lives. Some may even manage to come out of college with zero debt, but that rarely happens. Many factors can contribute to how much college debt a student has and how quickly they can pay it off. Some of these factors include the degree that they choose and the demand for this degree. This means that people who choose a degree that is in high demand will often get better jobs and earn money more quickly than other students who choose a degree that …show more content…

After college, most kids will have to consider debt while making decisions about what they want to do with the rest of their life. Kids have many choices they have to make when they come out of college. These choices include where to get a job, whether or not they should go back to school, where they should live, and what kind of house or apartment they can own (Hossler 52). Students who have massive amounts of debt may choose to accept the first job that is offered to them even though that might not be the position that they would like to be in for the rest of their careers. Students who consider going back to school might have to take a long break and get a job to start paying off the debt from their previous years in college. Kids looking to buy a house or apartment might have to buy an apartment that may not be the best option but is the cheapest and the best financial decision for them to make at that moment in time. College debt coming from student loans has risen in the most recent years. A study done in 2016 revealed that the graduating classes cohort is burdened by an average of roughly $30,000 in student loan debt, while the national total has surpassed $1.2 trillion. A figure that most claim represents an economic bubble that could have very negative effects on future generations (Webber). These numbers are making people worried for the future and are putting the likelihood of people attending and graduating …show more content…

College debt can affect students for their whole lives. It affects the choices that they make every day. It also affects whether or not they should accept the first job that comes their way or if they can wait and get a job that they prefer. It also affects their living situations and they may have to live in an apartment with roommates for longer than they had originally planned. The effect of college debt has started to make people wonder if college is even worth it and if it is a good investment and value to

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