Student Debt Essay

With over 329 million people living in its 50 states, the United States has many social issues. Some people have the jarring question of; what is the point of life. You go to school, work hard, have a job, have a family, and retire? Read between the lines of the statistics and money. In a 2022 article, Forbes lists concerning student loan debt statistics in the United States. The total student debt is $1.75 trillion in federal and private loans. A large portion of Americans ends up paying off their student debt for years and have to worry about paying off loans throughout their life. Many can’t pay their loans though. When borrowers fall behind, their credit scores get hurt, making other forms of debt relief impossible and people keep sinking

Coming from unstable homes, lower quality high schools, and low income neighborhoods present obstruct amount of obstacle even before debt becomes an issue. For students from middle class backgrounds, the road to a degree may seem easier. These families often have money saved and their school/support systems tend to prepare them well for the next step. But nevertheless, finances are still a huge roadblock even when families are financially stable and middle class students are actually more prone to student loan debt than anyone after graduating. Many of these families make too much money to qualify for student aid packages, but although they make too much to qualify they don’t necessarily have the financial means to cover the cost of college. How will a family save for their children’s college when even the parents are still paying off student debt? How are students at fault for their

It’s a national problem that unfortunately involves complicated and competing things to make it difficult to understand. But one thing we, as a community need to understand, is students who are indebted are not to blame for this problem. Times are not the same as they used to be, and many students are struggling living paycheck to paycheck as it is. The cost of college has risen faster than inflation over the past two generations. The cost of college is not in the same range as the costs from years and generations ago. The outrageous increase in costs associated with attending post secondary education in America is responsible for why many students have become in debt by student loans. Until our country understands the statistics and all together becomes morally raged, this problem will not be addressed and more and more generations will be lost due to this “pandemic” of college