ipl-logo

Persuasive Essay On College Debt

437 Words2 Pages

Debt To the “Highest Degree” The debate over whether or not a college education is worth the money is a contentious topic. Some people believe that to remain competitive with the rapidly increasing technological world, college is too expensive and therefore should be made free in the United States. The foes of this idea are in dire opposition claiming that free college would burdened Americans with more taxes, the quality of universities will dwindle, thereby devaluing a college degree and most interestingly enough, eliminate the private sector. However, increased taxes are an ever- inescapable necessity of being an American. While both sides of this issue have merit, it seems clear that a college education is not a worthwhile …show more content…

This high cost has resulted in a student loan debt crisis. In fact, the average student loan debt for 2016 was approximately $38,000 which is 6 percent higher than the year prior. 44 million Americans are now burdened with student loan debt totally $1.48 trillion a staggering dollar amount that surpasses credit card debt by $620 billion. In 2016 the U.S Department of Treasury unveiled a report finding that student loan debt accounts for 31 percent of the governments assets. The most common of these loans are the Stafford Loans which comes in two types, subsidized and unsubsidized. In these loans the Department of Education is the direct lender. The difference between the two loans are that in the subsidized loan the interest doesn’t begin to accrue until the student has failed to register as full time. With the unsubsidized, the interest begins to accrue once the money is borrowed. Coincidentally, of the total amount of money allotted to borrow per year of college, the unsubsidized loan always accounts for the greater portion of what a student may borrow. This deliberate financial snare is designed to trap the vulnerable

Show More
Related
773 Words | 4 Pages

He argues, “Even if they get the degree, they’re stuck with a huge bill..” (Reich 398). Although it is true that college can leave many in debt, that debt can be filled with a higher-salary job obtained due to having a degree. The only inconvenience that can be found in a college education is the cost and temporary debt that will be seen as worthwhile in the future. There are so many factors that weigh into why college is essential, but very few logical arguments are against it.

Read More
1149 Words | 5 Pages

“Forty Million people in the United States are dealing collectively with $1.2 trillion in student loan debt” (Dickinson 37). College tuition has rocketed to “66 percent” (Noah 11-13). College Tuition is up “500% since 1985” (Dickinson 37). The rates for older borrowers has risen from “6 percent in 2004” to “12 percent” in 2013 (Patton A10-A11). “40%” of American households have a student under 35 that has student loan debt (Jones 57-62).

Read More
1031 Words | 5 Pages

Over the last 12 years, federal student loan balances have quadrupled, exceeding $1.1 trillion (Lee and Looney, et al.). America’s student loan debt has skyrocketed to over $1.1 trillion. In the United States, student debt is a known problem that haunts many students and alumni due to the high prices of colleges. Many may argue student loan debt is worth it because of the job opportunities and higher earnings that can justify the debt. In contrast, others believe college prices should either drop or that the government should help with the debt.

Read More
1059 Words | 5 Pages

Currently, the U.S. has accumulated roughly one trillion dollars worth of debt from student loans. (cite) But, what if student debt was forgiven overnight? Now if student debt was eliminated all at once it would be an enormous expense for private lenders and the federal government. Yet, people continually suggest the dissolution of student loans with a one-time payment plan from the government.

Read More
1095 Words | 5 Pages

it’s 2016 and that average debt is probably double by now. Every day people do not have that much money to pay back their college debt. “About 70% of 2013 graduates left college with an average of $28,400 in debt” (Bidwell). $28,400 is about the price of a brand new car. This is thousands of dollars that students will have to work all of their life just to pay off.

Read More
1373 Words | 6 Pages

College Free Debt Free Do you imagine yourself, wealthy, happy, and successful? I believe we all do. Money isn't everything to most people but to some it's their whole entire world. To me, money is going to be my everything these next few years. I don't have parents that make godly amounts of money, my moms a hair dresser and my dad works as a pilot.

Read More
1228 Words | 5 Pages

The student loan issues are causing huge problems on both students and society it seems clear enough that students are borrowing a lot of student debt, and they are failing on that debt and aren’t capable of paying it back and that is destroying their ability and threatening their ability to access any more credit in the future. The approaches students are taking to a student loan debt collection are fraught with many problems, including bad recovery tactics and failing on making repayments on the debt. There is no escaping the fact that the cost of college tuition is on the rise and it’s not declining, and that is making it more difficult for students to obtain a degree which is really important to acquire to be able to function in today’s

Read More
513 Words | 3 Pages

Student loan debt is one of America’s biggest issues today. It is a problem that many leading political and economic figures are trying to solve, but have not yet succeeded. The nation’s high record of $1.34 trillion in student debt is not only troubling households but it is also disturbing the economic lifecycle. Students are not required to make payments until they graduate. But once they do, entry-level wages and salaries could take up to decades to pay off loans.

Read More
1185 Words | 5 Pages

The student loan debt has currently surpassed the 1 trillion dollar mark in the United States. A student loan is the same as other loans because it will actually make your credit score go down. Student loans are going to make you lose a lot of opportunities when defaulted. However, I was in the same boat and I am going to definitely show you how you will be able to pay off your student loans in these simple steps. 1.Budget.

Read More
1032 Words | 5 Pages

According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.

Read More
485 Words | 2 Pages

If you are reading this article, you are more than likely in some sort of college debt, whether it be a lot or a little. And trust me, you are not the only one! Millions upon millions of young adults are diving into debt as we speak for an education that will probably only allow them to make enough money to pay off their debt 20 years into the future. What to do? Well like anything in this world, if you want something to get done, it takes determination and focus.

Read More
302 Words | 2 Pages

I think college students know so little about their own student loans and the key terms that follow are because in high school my generation wasn’t taught the importance of student loans, credit score, and how to handle financial situations. When young adults enter college it’s a new and difficult challenge because we come in with no knowledge of finance with college. Default means if a student does not pay their student loans within 90 days it will affect their credit and put the loans in default. The difference between a subsidized loan and an unsubsidized loan is the government will pay the interest rate on the student loans while the student is in their grace period. That is for the subsidized loan and the unsubsidized loan is when a student

Read More
901 Words | 4 Pages

The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.

Read More
378 Words | 2 Pages

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

Read More
365 Words | 2 Pages

Going to college has never been an option. When looking at how to finance my college education, I quickly realized there are many options for paying for it. If the “free college for all” bill isn’t passed, student loans seems to be the route I will have to take since the cost of education continues to increase. A student working part time simply cannot afford to pay for college and come out debt free. At first, I thought that would not be a big issue given all the “debt forgiveness” programs.

Read More

More about Persuasive Essay On College Debt

Related Topics

Open Document