Student Loan Fraud: More Important Than Education
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Financial institutions and organizations that offer to assist students with education money expect the individuals to repay these funds in future. However, some of
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They both then fall into category of higher education fraud. The amount stolen from the Department of Education is obviously within the boundaries of higher education fraud. The money stolen from the Department of Labor was requested under the guise of educational training programs and such. And because it was education related, I have included
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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.
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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.
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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? ?
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Are you drowning in student loan debt? Have you received solicitations by student loan debt relief companies offering to help you get out of it? The Consumer Financial Protection Bureau has issued the following warning signs to consider before you decide to use one these companies: • Avoid working with companies that require you to pay them before they actually do anything to help you. You really should not pay anyone to help you with your student loan debt as you can access free assistance through your student loan servicer. • Never sign up with any company that guarantees loan forgiveness or debt cancellation.
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Families, who have their own issues, now need to confront the challenges of concocting cash that they scarcely have all together for their child to get instruction at a college institution. Student loan debt is common and is anticipated for undergraduates to seek higher education subsequent to graduating from their high school. College tuition costs are soaring, and a majority of undergraduates experience issues paying for their educational costs. To pay for their college expenses, most students require loans and toward the end of four years, those wind up owing debtors. Student loan debt has an unremitting impression on the lives of those within its grasp, influencing the manner in which they make important life choices.
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Students’ loans are the help to achieve students’ goals. However, students’ paid a higher price for have a better education, but they never imagine that to finish a bachelor or master they are condemned to carry a huge loan on their life as having to return all the money they got for finishing their education. According to, Real Life Student Debt Stories, Scrubb White said, “I will not got into debt never in my life,” (Par 7). Scrubb White It is one of many people that living with an enormous burden for many years for a student loan duty; he graduated with honors in 1974 with a degree in Accounting.
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Many Americans believe they can not graduate college debt free. They, in turn, take out student loans that in the long run will cause debt to pile up. Many statistics show the negative effects of student loans. This helps prove the idea that student loans are, in fact, are a major factor of high levels of debt. Also student loans and debt can be avoided with financial aid programs along with grants and scholarships.
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Unsettled student loans exceeded $1-trillion last year, surpassing the total amount of credit card, auto loan and home-equity debt in America. While most agree that college student debt is a major dilemma, there is little accordance on precisely how to fix it. Though increase in tuition costs has slowed in recent years, what students actually pay in the end is still on the rise. Possible solutions are being offered by government officials and educational advisors, however there is still no clear cut solution to the crisis. As more and more students take out college loans and fewer graduates are able to secure jobs upon college completion, many are faced with the challenge of starting off their lives in crippling debt.
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Managing and financing money smartly, while taking a proactive position to earn as much money for college will enable me to remain out of debt created from students taking on an excess of student loans. Student loans are a nightmare of the past that are now easily avoidable if the time and effort is put into avoiding them. Scholarships, work studies, full college and university rides are all opportunities constantly available to students. There should be no need to experience financial debt while in your student school years. Schooling should be every student's priority, not worrying about having to drop a class to get a job or on which loan company has the lowest interest rate.
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College costs are skyrocketing, and at the same time we have students wanting to learn and become educated in order to contribute their knowledge to society. The student loan debt crisis is weighing upon us, so we need to reform the system. If I had the power to make a change, I would cut the costs of college education and lower student debt by a reformed banking system. One of the major causes of the student loan debt crisis is high interest rates for student loans. Too many banks offer loans and do not think how these students are going to pay back the money.
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Student loans have always seem to be a controversial topic. Many people are in agreement and disagreement over the opportunity to student loans. Student loans can be a great advantage to many students, but it can also drown them in an immense debt, that will follow them for many years. The more we analyze this perspective, we are able to distinguish the advantages and disadvantages of student loans. There is a variety of perspectives on student loans, some involving annual salaries, interest rates, and commodity.
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Student loan debt loads have been spiraling, doubling over the last decade, and the enrollment rates of young people from lower socio-economic groups are rising far slower than middle and upper groups. Governments must recognize the renewed public investment in post secondary education is an economic and social imperative. 6.7 million borrowers in repayment mode are delinquent (Snider 1). The sad fact is that many lenders aren't exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans can't be discharged in bankruptcy.
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