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Debt In College

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College takes around 4 years for most, sometimes more, and those years could be years of making money. Years spent in college could be years spent racking up debt for a future that will never exist. A multitude of college graduates don’t actually have a career in the field that they majored in, but still end up in service jobs. Consequently, 57% of 18 to 34 year olds who are not in school and don’t have a bachelor 's degree say they prefer to work and make money rather than go to school (Source F). These high school graduates do not desire to collect debt during their prime working years and would rather find work using their hands. Furthermore, according to Source C, “since 2000, America’s young college graduates have seen wages… deteriorate”
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College not only allows you easier access to a steady above minimum wages but also access to more life itself. Imagine yourself as a 80 year old grandparent, you could die pretty much anytime at that at age, but you can spend more time with your future family if you decide to get a Bachelor’s degree. I know this may sound as ludicris as the early 2000’s rapper, but according to the Center of Desease Control (CDC) “Between 1996-2006, the gap in life expectancy at age 25 between those with less than a high school education and those with a bachelor’s degree or higher increased by 1.9 years for men and 2.8 years for women. On average in 2006, 25-year-old men without a high school diploma had a life expectancy 9.3 years less than those with a Bachelor’s degree or higher. Women without a high school diploma had a life expectancy 8.6 years less than those with a bachelor’s degree or higher.”

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When people think about college student?s financial status, they often think they are going to be broke from student loans. What most people do think about when it comes to college students is credit card debt. And if people do think about it, the students are often blamed for the debt because many people still think they are you kids who are irresponsible when It came to money. In the article, ? The Credit Card Company Made Me Do It? ?

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My family has already had one son go through college and another one is currently a sophomore in college. I have another brother that is a freshman in high school, so this means that my parents will be helping pay for two college educations for half of my college career. College costs could place undue financial burden on my family, this is why I hope to remove college debt by obtaining financial help through

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323 Words | 2 Pages

Today college costs are through the roof. Many Americans say that they leave college with crippling debt. Living with the debt from college is a hard thing to do, and paying it off, not over months but years, is an even harder thing to do. Underskilled jobs, like plumbers & auto mechanics, have seen an increase in wages. In most parts due to people have become more likely to reuse old material instead of buying new.

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So many people believe the only way to succeed in life is to begin with graduating with a four-year college degree. They seem to have this illogical thought that with this degree comes job and financial stability. College degrees alone do not bring money, hard work does. In many cases hard work is a college degree, but not for everybody. Only certain professions need college degrees.

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731 Words | 3 Pages

According to the Federal Reserve Bank of New York, college student debt has risen and continues to rise but regardless of the debt, college graduates should be able to pay them off with the jobs that are available to them. College graduates are less likely to become unemployed (Nader). College degrees easily gain value over time and is almost always looked for in higher positions. In 2004, male students with HS diploma/ GED made an average of over $20,000 a year less than their college educated counterparts according to the NCES (Bellenir). Although, according to the NCES, women with a Highschool diploma or a GED made $16,000 less than college graduates but female graduates on average make $10,400 less than male graduates.

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1022 Words | 5 Pages

Living where we live, you begin to comprehend that living off of $11.00 per hour including with your family will never suffice your needs. Getting a college degree can ensure the graduate a higher chance of being able to earn more financially. In the article “Why College Isn't And Shouldn't Have to be For Everyone” by Robert Reich, he states that “A degree from a prestigious university can open doors to elite business schools and law schools-and to jobs paying hundreds of thousands, if not millions. ”Even though Reich’s article is on the opposing side of the argument, he fails to overlook the fact that in the long run having a college degree will, and can open doors to many new opportunities. One of those opportunities is to be able get a well paying job that can earn more than the average non college graduate.

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During a press conference in Washington D.C., democratic presidential candidate Bernie Sanders proposed six action steps to make education tuition and education debt free with the purpose to increase the affordability of higher education and help students graduate from college without a debt burden. However, as favorable as Sanders’s plan sounds, current debates prove it to be double-faceted. On the positive end of a spectrum, Sanders’s notion will create an influx in quality human capital by lifting the burden of expensive tuition and high loan interest rates, thus allowing more students to attend college, which in the long run will benefit the economy. On the other end, the means of revenue (the Wall Street Speculation Tax) needed for the

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College education doesn't guarantee employment. In 2012, there was a lot of evidence suggesting the education to work link being broken. (Allen, 2011) A lot of college graduates are searching for work today. A lot of college students feel that college is a waste of money.

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“It is not where you come from. It is where you are going that counts.” As aforementioned, Ella Fitzgerald says this to anyone at any stage of their life. She emphasizes the importance of looking ahead into your future, whether applying to college, improving upon your mental or physical health, working a job, or spending your life with a perfect person. This message is heavily put on college students and all their future decisions.

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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.

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1003 Words | 5 Pages

However, when having a job may help with college debt it is also important to recognize that it does not help entirely when work starts to become more of a priority over school. As well as, young students may not be able to acquire a good grasp of how too take care of money properly and to evenly spread finances across all needs and wants. And secondly as another alternative solution could be starting out slowly and going to a community college so that college debt can be slow and that it will be more bearable to handle when going to university if that is a choice to pursue even further for a student’s education. In the article, ‘Paying for College Without Loans, Scholarships, or Looting Your Parents Retirement” it writes, “We’ve seen something of a devaluation of a bachelor’s degree in the job market.” (Steinberg

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478 Words | 2 Pages

For young college-educated women, hourly wages fell from $19.38 to $18.43 over the same period. Now, with unemployment expected to remain above 8% well into 2014, it will likely be many years before young college graduates - or any workers - see substantial wage growth. As college students head back to the classroom this semester, a harsh reality confronts them - the rewards for the time, energy, and money that young people put into college are less than they were a decade ago. Since 2000, America’s young college graduates have seen wages, adjusted for inflation, deteriorate. (Shierholz,

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701 Words | 3 Pages

The first thing that they might bring up is that college education makes more money which in return can pay off your student loans as said, “While the income for those with a bachelor 's degree was $65,482, and $92,525 for those with advanced degrees. [110] The median income for families headed by a bachelor 's degree holder was $100,096 in 2011.” (college-education) The next point they might bring up is that more and more jobs are requiring people to have some sort of college degree as said here, “According to a June 2016 study, 99% of job growth (or 11.5 million of 11.6 million jobs) between 2010 and 2016 went to workers with associate 's degrees, bachelor 's degrees or graduate degrees. [104] Based on economy and job projections calculated by Georgetown University, in 2018, approximately 63% of jobs will require some college education or a degree.

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901 Words | 4 Pages

Most of my friends who are currently in college have between 5000$-20.000$ in federal and private loans. In many cases, besides for the loans, students have to work and study at the same time, which results in a stressful life for the student. In fact, many students are not able to finish their education because, since they can’t afford it, they have to work over their studies. Out of all the possible reasons to drop out of college, “the No. 1 reason many young adults drop out of college is an inability to juggle school and work” (Johnson). Finishing college is the most decisive forecaster of prosperity in the workforce and the inconsistency in college completion between children of rich and poor families duplicated since the late 1980s (McGlynn 55).

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