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Persuasive Essay On College Student Debt

656 Words3 Pages

In January of 2015 President Barack Obama got our attention by proposing to give every student in the U.S a chance to attend a community college free of Charge. Many were thrilled and some were unsure how this would work. We all know how important education is for one’s own sake, and as a nation in general. Education is an opportunity for one to expand their knowledge, way of thinking and it is a chance to change your life for the better for those who need it. The level of college student loan debt exceeds the amount Americans owe on their credit card- over a trillion dollars and it’s Getting worse. If public college tuition was free, the amount debt Americans owe would be severely lower, the unemployment rate would be reduced by 2 million and it is easily possible to make this a reality. …show more content…

Nearly one third of borrowers in repayment are delinquent and 45% of incoming college students will never earn enough money to pay off their student loans. Think about that. We have an average rate of about 10% on student loans, compared to a mortgage for a house being 3-4%. It is ridiculous to see these facts and to see that an education is causing people more financial problems than a contract to buy a house. Roughly ⅔ of graduates have debt and the average borrower will have amounted $26,600 of debt. Student loans account for 6% of the national debt and out of the 1.2 trillion in student loans, 1 trillion is backed by the government. Looking at these facts and numbers is truly shocking but there are many benefits of making the tuition of public colleges

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