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Preston Harris 6/13/2023 ENGL 200 ZA Mrs. Martin Rough Draft You and I, as college students, probably keep up with the finances related to our higher education. Setting oneself up for success as a student is crucial, and this includes preparing for potential debt. The issue of student debt and what to do about our outstanding loans is causing a serious financial problem in the United States. After completing their studies, more than 65 percent of college graduates average $28,650 in loan debt.
Argumentative Essay: Embracing College Debt "By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good paying job" (Pocan, 2016). High school seniors advance into college with little income and no knowledge of managing large expenses. Although college incurs significant debt, it has positive lifelong benefits such as a better job, higher salary with benefits, and obtaining an opportunity for a fuller life. College graduates tend to have better employment opportunities.
Over the last 12 years, federal student loan balances have quadrupled, exceeding $1.1 trillion (Lee and Looney, et al.). America’s student loan debt has skyrocketed to over $1.1 trillion. In the United States, student debt is a known problem that haunts many students and alumni due to the high prices of colleges. Many may argue student loan debt is worth it because of the job opportunities and higher earnings that can justify the debt. In contrast, others believe college prices should either drop or that the government should help with the debt.
The Student Debt Crisis The look into college can be frightening these days. College seems to be an overwhelming topic because of the expenses. Over 50 million college students are in debt in America, collectively owing almost over 2 trillion dollars. The student debt in America is a serious problem for many young Americans trying to get a higher education and continue on with their lives as adults.
College debt is developing into an immense issue in the United States with about 1.3 trillion dollars worth of college debt across the country in 2015, which is about a 39% increase since 2011 (Redd, 2016; Goldrick-Rab and Kendall, 2014). This debt is not just piled on a small portion of people; according to Redd, “about 10 million college students took out student loans” in the 2012-2013 school year (2016). The average tuition at in
Aidan Autovino Mr.Allen English pd.3 20 April, 2023 Student Debt Imagine graduating college look at the amount you owe on loans for your education is over $20,000.The average federal student loan debt balance is $37,338. That's a lot of money for just one person to pay off! The federal student loan portfolio currently totals more than $1.6 trillion, from loans owed by about 48 million borrowers. Student debt is caused by the astronomical price of higher education that leads to crippling debt for college graduates and even dropouts; however, There are Government plans and scholarship payment programs created to help this issue be forgiven or partially assisted.
Rising College Debt College costs are rapidly rising. It is an undeniable fact and one of the major issues arising from this problem is student debt that in major cases can go into hundreds of thousands of dollars. National student debt is approaching 1.3 trillion dollars in the United States and rising every year (Douglas-Gabriel). Unfortunately, the majority of higher paying careers today a college degree is a requirement, and this situation is not likely to change. Different loan repayment options, more scholarships, and more help from state government could help offset the rising cost of higher education.
Specific Purpose: To inform my audience about life as a college student. Central Idea: College life is a unique experience that teaches people knowledge they will keep with them for the rest of their lives. Introduction I. Attention Getter: Imagine the stress of being 30,000 dollars in debt or more.
was $51,000. In looking at college costs these days, it’s not hard to see why student loan debt has reached crisis proportions. Just do a Web search for the phrase “student loan debt” and you’ll find a cascade of amazing articles and statistics. For example, here’s one headline from a recent article about the scope of this issues: Americans owe $1.2 trillion in student loans, surpassing credit card and auto loan debt totals. It’s hard to comprehend 1.2 trillion dollars.
Student Debt Destroying Dreams In 2017, according to Studentloanhero, there was a total of 1.45 trillion dollars worth of student loan debt. There was 44.2 million Americans with student loan debt. If someone is choosing a big and prestigious college, without a decently paid ride or full ride, it will be costly. This leaves students with massive debt, even after college.
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.
It's the last semester of your senior year and you're wondering where all the time has gone. Everyone is excited about the next step, but it seems as though all you can worry about is your newly found responsibilities. You check your account; nothing is saved. You work a 5-9 but after paying for your car and insurance, there's only enough to support your daily expenses. You've worked hard all year but even your best has proved to not be enough.
In 1980, the average cost of tuition, room and board, and fees at a four-year post-secondary institution was $9,438,” according to the Department of Education.” (Jackson) Rising tuition hikes have made attending college more expensive today than at any point in U.S. history. At the same time, debt from student loans has become the largest form of personal debt in America, bigger than credit card debt and auto loans. “Americans owe over $1.4 trillion in student loan debt, spread out among about 44 million borrowers. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year.”
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.