Pros And Cons Of College Debt

Due to the many issues that have arised in the world, such as college debt, many students are becoming unsure whether or not to attend their desired school. As you can see, an “increasing number of borrowers are struggling to pay them off,” (Martin and Lehren 6), in regards to the students who are in college debt. Fortunately, there are three solutions that are provided in order to help prevent students in ending in college debt. For starters, people in a college or university, even years after they graduate, are filled with the stress that they are in college debt. For instance, Kelsey Griffith, a graduate from Ohio Northern University said, “I’m going to owe like $900 a month.” Griffith was unaware of the pricey cost she’d be in debted to. As the years continue to pass, the situation only appears to worsen and it affects the next generation. As you can see, “the cost of tuition and fees has continued to increase faster than the rate of inflation, faster even than medical spending,” (Martin and Lehren 5). The rise in cost for students not only discourages them, but leaves them in a debt which they will spend years trying to pay off and barely making

Proof of this comes from the insight that “families should exhaust all means of reducing costs before borrowing. That might mean skipping out on the first choice college and attending a state school or community college,” (Steinberg 14). The downside to attending a community college first is that the experience is different than it might have been in the preferred school. Also, the cost might still be pricey and could affect the decision of wanting to attend. However, the bright side to it is that it is “the easiest and most powerful way to reduce the cost of college,” (Steinberg 14). Attending a community college ensures post graduation debt will be avoided that the cost will be