Student Debt After College Essay

University students have felt the pressure of crippling debt after college. Over the years debt rates have exponentially increased over the years when students have been increasingly applying for colleges and universities. Unfortunately, statisticians have noticed that the more students apply for student loans the more money the for-profit colleges end up getting the money. Students do not get the help they need after college to be able to pay off their loans because they do not know how to pay off the student loans in a way where they can still provide for themselves. Students who are not fortunate enough to be born into a good financial situation often have to pick a safe school that might not be able to abstract their potential to be successful

Adults and young adults after college struggle with paying off student loans and often do not have any help from government programs and they do not learn an efficient way or intelligent way to pay off the loans. A large number of adults and young adults struggle with debt after college because of how much they cost. Programs to help people with student loans often have an age deadline and some are not able to gain help or even learn about how to slowly pay off their debt. Even while programs try to help people they can only do so much and people still suffer from debt.Even after college adults still have student loans as this statistic shows, “58% of adults aged 18 to 29 years report having student loan debt. Among 30- to 44-year-olds, 60% report student loan debt (Hanson). The percentage of adults after college that still suffer from student loan debt is affecting their own lives and has them struggling for things that they want to achieve in life.

Students often leave school or graduate school with loads of debt. High schoolers going into school notice the debt that they will leave school with but they can not do anything about it because the colleges make money off of the student loans. Colleges often charge a lot to go to their school and, “The average graduate student owes up to $90,170 in cumulative federal student loan debt. 54.2% of all graduate school completers have federal student loan debt from graduate schools; 60.5% have debt from their undergraduate studies” (Hanson). Students leave school with tons of debt and students rarely leave without student debt. Often debt starts to pile up as the students go through more schooling because they are not as lucky as the rest of the people and do not have a steady enough income to help pay off their student debt so those rates are going to continue to rise. As those rates are rising the profit that colleges are making is slowly going up as the rate of student loans is going up. More people are going to college allowing colleges to make more money. Non-profit colleges are rising, “And the high rate of default among student borrowers is rising. A less obvious factor is the growing number of for-profit colleges, which enroll 11 percent of college students” (The Price). As more people take out