The article “Is College Worth the Cost? Many Graduates Don’t Think So” by Jeffrey J. Selingo describes that most of the graduate students’ who had already completed their four years at a university and earned their bachelor’s degree are in debt for over a couple of years paying off their education. As stated by Selingo, those students that got a higher education are likely to be unemployed because the unemployment rate for college graduates is still at 9 percent, which makes it difficult for students to start paying of their debts. According to the Federal Reserve Bank of New York, the wage of college graduate workers has declined about 10 percent for the first time. Even if the college graduates do start working right after finishing their education most of
An Annotated Bibliography Block, Sandra and Dugas, Christine . " Five Proposals to Solve $1 Trillion College Loan Crisis." USA Today. Gannett Satellite Information Network, 21 May 2012. Web.
The longer they are in college and the higher the degree of education they pursue the more debt they will be in. In my opinion this is the biggest problem for students. We are literally releasing people who go from undergraduate to unemployed with massive amounts of debt that are difficult to pay off. Just because someone have a degree doesn't mean they can get a job in that field of study. A degree means they can get a better job but that doesn't meant they will have that job immediately.
College debt is only increasing, “two-thirds of the class of 2011 owed 26.600.” According to Ellis of CNN Money, “the increase comes at a time when unemployment has remained stubbornly high for college graduates - 8.8% for 2011.” Most kids would rather party when they get out of high school then get a job, therefore students who have parents with steady jobs will have an advantage over the
Ana Lucia Urizar, author of the article titled We’re Being Punished by Crippling Student Debt presents the argument of Student debt and the importance of remedying this topic otherwise face future detrimental effects. Urizar provided statistics suck as the average amount of loans in dollars the class of 2015 had taken out. Ultimately, Urizar’s main argument is that something needs to be done about the exorbitant cost of attending college because it is impeding graduates’ careers, standard of living and ability to fully engage the economy. This argument does well providing strong statistics found through credible sources such as The Wall Street Journal, however, the article failed to provide a counter-argument or different viewpoint regarding
College debt can have a crucial and long-lasting impact on students’ futures and life choices. Student debt lowers their credit scores and affects their future financial wellbeing, inflicts mental health
Are you drowning in student loan debt? Have you received solicitations by student loan debt relief companies offering to help you get out of it? The Consumer Financial Protection Bureau has issued the following warning signs to consider before you decide to use one these companies: • Avoid working with companies that require you to pay them before they actually do anything to help you. You really should not pay anyone to help you with your student loan debt as you can access free assistance through your student loan servicer. • Never sign up with any company that guarantees loan forgiveness or debt cancellation.
Author, Sandy Baum writes about how student debt affects individuals in the book Student Debt: Rhetoric and Realities of Higher Education Financing. “It seems quite clear that student debt has generated serious harm to some individuals” (Baum 70). In stating this, most people do not want to go to school because they believe
Since tuition has risen 3 times higher the rate of inflation in the past 10 years, this increase a student’s chances of not being able to afford higher education and also gives them a better chance of accumulating debt post-graduation. Some people think that the college education they acquired did not fit the amount they paid for it, even if they pulled out loans or were an ideal candidate for a scholarship. This is a scary fact because higher education can determine if you thrive
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.
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
In sum, then the issue is whether the threat of unemployment after racking up a substantial amount of debt or college prepares undergraduates with more than wages or a career. My own view is that education should not be limited to cost, it transcends beyond literal money and provides for life in more
The value of college debt is almost equivalent to developing a small business instead “a co-founder of PayPal, will pay each of the 24 winners of his fellowship $100,00 not to attend college for two years, and to develop business ideas instead” (Source E). If more than 24 people did that for themselves, they could make a good investment instead of a risky one towards college. Wanting a higher education means that, “Students today, are taking more debt, and recently tightened bankruptcy laws make it more difficult to shake that debt” (Source E). Therefore, making a useful investment, instead of a risky one can help get rid of debt quicker and
The tuition and cost of college is detrimental to thousands of families across the country and brings student debt to future graduates. Some students have seen their debt climb over $30,000. Friedman writes, “The average student in the Class of 2016 has $37,172 in student loan debt…” (Friedman). With the debts being over the average income for single people households, college has transformed from a benefit to a burden. Young adults not only have to worry about their education but also paying for the next semester or years of college ahead of them.
Student loans can be helpful, but when it's time to pay back, it can lead to future mental struggles and be stressful and hold you back from living the life you want to live in the long run. The student loan debt crisis in now only taking a huge toll on the personal lives of many Americans, but on the economy as well. Whether or not students graduate or not, if they pulled out student loans worth $200,000 they remain in debt for a remainder of years. As the problem continues to grow it becomes more and more critical to find a solution to help the well being of everyone in the nation, student or
