Student Debt Benefits

institutions emphasized giving discounts when students opted for automated payments. Another tactic used is to encourage students to transfer college student loan to a credit card, with several benefits attached. However, this tactic can just create another credit card debt.
While several tactics encourage debt, institutions also discouraged student debt by including important information that can assist with making good financial decisions. For example, Sallie Mae provides free FICO credit scores along with educational content to help students understand the importance of reviewing the information. The American Education Services offer a financial video to familiarize students about money matters. This website also provides instructions

More than 8 in 10 agreed that a college degree in today’s society is a given and critical in obtaining a desired occupation. Still, attitudes vary regarding college debt as some Americans do not view it as a burden, but a means to an end. Many of today’s young adults simply see it as a way of life, and rather than stress about how to repay student loans, they focus on the accomplishments that can result from an education. In fact, many students view student loan and credit card debts as a device that puts them in control of their lives, which also leads to higher self-esteem (Carns, 2011). While it is uncertain why debt seems to have this effect, earlier research showed that educational loans may be seen as an investment in the future. Credit cards have the same effect. Most college students use credit cards for books and school supplies, and even clothes for interviews. Not surprisingly, once the distance between college students and young adulthood increases attitudes toward debt changes. This often happens when individuals reach later adulthood and realize that their salaries are not nearly enough to cover student loans and credit card debts. Consequently, signs of stress become common along with this

Tuition has increased by 112.5% for a four-year institution while income has remained the same making it difficult for students and parents not to apply for student loans. Addressing the student debt problem will require new tactics such as relief to existing borrowers as well as returning the American higher education system to a debt-free system. Student debt has reach approximately 1.2 trillion dollars; a very disturbing new reality for many students trying to obtain a higher education. Higher education once believed to be the gateway to the middle class can now be viewed as a “debt-for-diploma” system with a long-term financial impact, which also places limits on the economy. In order to accomplish this goal, the state and federal governments must provide new resources for funding higher