Psyd Students Affordable Debt: A Case Study
This article written by Allie Bidwell is about the class of 2013 and how much debt they incurred while at college. The average student loan debt for this class is $28,400. Bidwell states that this number isn’t all that accurate due to the low numbers of colleges that report their numbers. Out of all private and state institutions, only 57% reported numbers of debt or the amount of graduates with debt. Schools are ranked on a scale from high debt to low debt, with schools that have high debt averaging almost $50,000.
In 2014, the average student loan debt was between 24,000 and 33,000, varying by state. “Seven in 10 seniors (69%) who graduated from public and nonprofit colleges in 2014 had student loan debt, with an average of $28,950 per borrower. Over
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.
In the short story A Lifetime of Student Debt? Not likely. Written by Robin Wilson, he goes into detail of the crises of college debt in the United States. The first point being made is on how students over barrow student loans. Some of the students come from low income families, and they are the first generation to ever attend college.
In the U.S, there is a huge problem facing the government: student debt. College students are graduating from school with huge amounts of debt and loans borrowed from the government. Many students have a hard time finding a job upon graduation and have no way to pay back their loans. This hurts the students as well as the government and the economy. The student loan crisis keeps getting worse and worse.
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? ?
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.
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 Education and Student Loan Debt Is a college education worth the student loan debt that accompanies it? Some argue this point but the salaries that come with a college education, with a degree, can pay this debt. The salaries for a person with a degree and college education is higher than those who have not attended college or have a degree (Bielagus).
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
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.
Society often believes college is a necessary experience for a better future, but I argue that the future will not be any better when student debt becomes a part of life for those who follow that mainstream belief. Most parents often dream of the great colleges and universities that their children will get accepted into; however, they fail to think of the cost to attend those institutions. Financial aids! Financial aids! Yes there are financial aids that students can apply to lessen the student debt.
The average amount of student debt could be in between $30,000 to $50,000 as said in this quote,“10% of students graduate with over $40,000 in debt and about
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.
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.
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