College Students Contain Debt

America is one of the greatest nation to harbor debt. How did we become a nation littered with debt? There has been so many ways that we as the general population of America can contract debt. A factor contributing to debt is the economic success of America itself. As a capitalist country, most of our American goods are processed in other countries because the labor force is cheaper. This leaves American citizens with less jobs, more competition, and less money for spending on goods necessary to maintain a lifestyle that of the middle class. Thus, if one is eligible for loans and credit cards, debt will be inevitable. Debt must begin somewhere in our lives and where else would it begin other than when we are students?

Students obtain debt early

With only a margin of jobs accessible to adults in the transition from college to their dream occupation, it leaves many unemployed students with a huge sum of debt. Debt has become a situation where it is reduced into a smidgen of a problem due to the glamorization of the once free money. Students and adults alike, are unable to see beyond the available money. And when they have collected debt, it seems as if they have become immobilized at a dead end. Scurlock makes a moving documentary as he focuses on the effects of debt that occur to students. He describes two incidents where college students have taken their own lives because of debt. “[Mitzi] had hanged herself in her dorm room after racking up credit card debt” (Scurlock 153) and “Sean moved back home… told his mother he felt like a failure, and two days later, hung himself” (155). Because of debt, many other students have cut their lives short. Debt is a fear young students believe that would not impact their lives so long as they get a high paying job after college.With debt incorporated into their lives, they just want to be financially

Thus, working at an early age and seeing the money in their hands give them a slight tilt to keep on working rather than follow up with their education. The Bureau of Labor Statistics states that, “16.9 million persons age 16 to 24 were not enrolled in school. The labor force participation rate of youth not enrolled in school increased over the year” (par. 12). Contributing to this fact, youths would rather work and help their families’ financial problems due to debt instead of pursuing a higher education. Youths believe that going to college will put them into more debt because their family does not have the financial support. Discouraged from further empowering knowledge due to potential debt, teenagers would rather work a minimum wage job and help pay off their parents’ debt before looking after themselves and their own