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Cause and effect of rising college tuition
Essays on how to manage student loan debt
Cause and effect of rising college tuition
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04 Dec. 2016. In USA Today’s article by Sandra Block and Christine Dugas titled “Five Proposals to Solve $1 Trillion College Loan Crisis,” the authors mention five ways to solve the student debt crisis in America, illustrating things like Bankruptcy reform, loan forgiveness, increasing federal pell grants, and the education of borrowers. Evaluating this article, it provides an informative view on the solution of student debt, and overall expresses many different spectrums on ways we can solve this social problem. The five ways to solve this problems
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.
In “The Benefits of Divorce and Unemployment for Parents of College Students,” Callie Belback, satirically discusses the problems of high tuition and student loans in higher education (1-3). First, Belback addresses the issue of incredibly expensive education with not enough financial aid rewarded to college students forcing people to spend years out of college trying to pay back loans (1). She then points out that with these extremely high costs, families should do everything they can to lower the cost and proposes that parents of college students get divorced and “quit their jobs.” (2). Subsequently, she lists numerous advantages of getting divorced, like independence for students and parent and creating a stronger love between couples,
Journalist Sophie Quinton discusses how college expenses are constantly rising, though many states are now reducing instate tuition in her recent article, “States Move to Curb Rising College Tuition. Quinton informs readers that colleges are not only cutting college tuition, but freezing it. As a result student loans are soaring nationally, and schools are forced to become more efficient. Student loans are then causing debt, that later affects a students’ life in numerous ways. College students today, tend to lean towards nicer looking colleges, rather than a higher education.
Students with college debt often feel a sense of pressure and anxiety, fearing the judgment of other students and family members who may not understand what they are going through. Because of the impact on one’s mental health, students under this pressure may be led to making poor decisions and begin to lose hope for their lifelong goals and values. College students’ lives get torn apart by the burden of their debt and tend to feel ashamed of their low income families who could not afford their tuition. People from these low income families are more vulnerable as it is. It is probable for them to have a tougher time finding a steady source of income for themselves, causing them to feel even more overwhelmed and hopeless about paying off their loans.
March 17, 2023 Student Debt and its Impact on America’s Scholars Americans currently owe a total of $1.7 trillion in student loan debt, and if we focus on an individual borrower, that person would carry an average of $30,000 in student loans. Student debt is a known issue in the university system and affects millions of students every year. As tuition increases and mortgages also rise, students have been resorting to borrowing to make their way through school. However, abusing the privilege to borrow a loan will add up over time, causing long term problems in the future. Although loans can be helpful every once in a while, it would be ideal to try to prevent borrowing.
Many people dream of a life filled with riches, but that dream is hard to obtain without a college degree. It is somewhat ironic how people dream of being a successful student and going to college but the cost of tuition turns that dream into a horrible nightmare. It is not a shock to most people when they that college tuition is expensive, but in the past few years it has increased to an all-time high. Lower and middle class students have now begun to realize that college tuition is holding them away from their dreams. Even though college tuition could provide opportunities for job creation and economic growth, tuition is not affordable for the average American household which in effect, prohibits students from taking opportunities like going to college in the first place.
About 17.4% of Americans endure the affliction of college student loans. That’s about forty five million people who have borrowed student loans. But looking into the past, the 50s and 60s specifically that was not the case: the average college student's tuition was free or had a very low fee of a thousand dollars or less. Comparing this to the ever mounting 1.76 trillion US dollars of college debt, there's obviously a huge need for reform as this sets many young students into debt early on. College student loan debt is one of the most punishing grievances that affects the lives of most young adults living in America this 21st century.
Loans allow receiving a college education seem like a smoother process considering that such a hefty amount to pay is divided so that it can be paid for in moderation. Despite the fact that it’s split into many payments, it’s still a large quantity all in all so unless indebted students aim for high income jobs, there would many years of difficulty to come after college. For this reason, undergraduates make it their goal to go after jobs which would prevent them from being constantly pressured to pay off debt. Thus, student debt is both a crisis and a reason to encourage persistence towards greater ambitions (Hillman, 41). It is a tremendous thing when a student seeks to be financially comfortable or even rich in the future but not when it is for the wrong reasons.
Reducing College Tuition College can either be a rude awakening for some students or it can be an opportunity for higher learning, but the goal is the same: to obtain a higher education and become successful. The purpose of college is to open people’s minds to new thoughts and ideas. Higher education offers knowledge and wisdom, but most of all, it offers experience, which is what people look for and desire when they think about attending college. Unfortunately, there is just one barrier keeping people from obtaining higher education, and that barrier is the price tag of college tuition.
Every year, thousands of students are affected by student loans. College debt is now the second form of consumer debt, right behind mortgages. Surprisingly, textbooks are part of the reason college students lose so much money. On average, students take eight classes a year. Given that textbooks are roughly $150 each, that puts students at spending nearly $1,200 annually (according to a Chicago Tribune report).
Society often believes college is a necessary experience for a better future, but I argue that the future will not be any better when student debt becomes a part of life for those who follow that mainstream belief. Most parents often dream of the great colleges and universities that their children will get accepted into; however, they fail to think of the cost to attend those institutions. Financial aids! Financial aids! Yes there are financial aids that students can apply to lessen the student debt.
The financial burdens that college leaves with the families and students needs to be addressed as student loans keep racking up over time. The cost of tuition for colleges has risen drastically over the years and has bounded students to only one or two college choices to choose from and at some points tearing away the opportunity to go to their dream college. However, one reason college has driven up in price is because the value it brings with it’s degrees, but it should not limit those who can not afford the worthy degree. College should be cheaper as it will ease financial burdens and broaden the choices of those wanting to attend
Most of my friends who are currently in college have between 5000$-20.000$ in federal and private loans. In many cases, besides for the loans, students have to work and study at the same time, which results in a stressful life for the student. In fact, many students are not able to finish their education because, since they can’t afford it, they have to work over their studies. Out of all the possible reasons to drop out of college, “the No. 1 reason many young adults drop out of college is an inability to juggle school and work” (Johnson). Finishing college is the most decisive forecaster of prosperity in the workforce and the inconsistency in college completion between children of rich and poor families duplicated since the late 1980s (McGlynn 55).
Student loans can be helpful, but when it's time to pay back, it can lead to future mental struggles and be stressful and hold you back from living the life you want to live in the long run. The student loan debt crisis in now only taking a huge toll on the personal lives of many Americans, but on the economy as well. Whether or not students graduate or not, if they pulled out student loans worth $200,000 they remain in debt for a remainder of years. As the problem continues to grow it becomes more and more critical to find a solution to help the well being of everyone in the nation, student or
