ipl-logo

The Importance Of College Debt

378 Words2 Pages
bulb-icon

Recommended: Student debt effect on students

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). Because of this high cost, there are many students that decide not to purchase textbooks, despite being aware of the “textbooks are mandatory” notices.
Our generation of young adults is taught that education is the most important task we could ever achieve in our life. Without education, how will we find a job? How will we make a living?
Show More
Related
103 Words | 1 Pages

Hello, Professor Gray, The lost loan repayment plan would have a positive impact on the taxpayers by working with your loan servicer to choose a federal student loan repayment plan to make loan payments more fordable giving the loaner more time to repay their loans based on their income. Student loan debt is referred to as installment debt, which means you have fixed payments for a specific period of time. The interest you pay on your student loans is tax deductible that would put additional funds that could be used to purchase items that would increase spending with will help build the

Read More
863 Words | 4 Pages

As we read “A Lifetime of Student Debt? Not Likely” we learn that the title is correct if student loans are used wisely. Many don’t pay attention to the debt they are building. Whether it is important for them to go to a certain school, or to always be partying, students will quickly use all the money they have. For some reason, when they find out how much they owe, they are shocked.

Read More
1056 Words | 5 Pages

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.

Read More
246 Words | 1 Pages

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.

Read More
346 Words | 2 Pages

I agree with the goals of the affirmative side. But, we need to provide relief for new college graduates. But this bill doesn't get us there so please negate. If we want make a cushion for the students, then we need to make a bigger one. The national student loan default rate, 11.8 percent a year ago, stands at 11.3 percent.

Read More
948 Words | 4 Pages

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? ?

Read More
155 Words | 1 Pages

Ana Lucia Urizar, author of the article titled We’re Being Punished by Crippling Student Debt presents the argument of Student debt and the importance of remedying this topic otherwise face future detrimental effects. Urizar provided statistics suck as the average amount of loans in dollars the class of 2015 had taken out. Ultimately, Urizar’s main argument is that something needs to be done about the exorbitant cost of attending college because it is impeding graduates’ careers, standard of living and ability to fully engage the economy. This argument does well providing strong statistics found through credible sources such as The Wall Street Journal, however, the article failed to provide a counter-argument or different viewpoint regarding

Read More
1125 Words | 5 Pages

Joseph 1 Tre Joseph 1302 Professor Jenkins 10/12/15 New York attorney Robert Applebaum’s and economist Justin Wolfers essay's debate on student loan debt applebaum’s "Debate on Student Loan Debt Doesn’t Go Far Enough”, attests that the U.S. has a financial crisis’ on it's hands and that, unless the U.S waives the present student debt(over $1 trillion) the economy will nose dive. Applebaum writes an over-passionate and panicked paper. Applebaum’s essay is absent of sensible logic, practical validity and is riddled with unreasoned assumptions. Justin Wolfer's "Forgive Student Loans? Worst Idea Ever", argues that forgiving student debt would only contribute to a financial crisis.

Read More
1372 Words | 6 Pages

Textbooks and other general necessities are also costly aspects of college life that are often unaccounted for in regards to the true expense of obtaining a

Read More
722 Words | 3 Pages

In 2014, just a bit over 70% of college students graduate with $33,000 in student loans. This number is staggering and why student loan debt has become such a hot topic of debate in the United States. In the meantime I think we, as students need to be a little more involved in our future and the college process rather than placing the burden and stress solely on our parents. There are various things I can do to reduce my student loan debt and avoid the stresses after I graduate college.

Read More
280 Words | 2 Pages

Another negative impact that student debts has on the U.S economy originates from the impact is has on small businesses. It is acknowledged that small businesses are the backbone of the United States economy. According to the United States Small Business Administration, these small business's account for one-half of the private sector economy and 99% of all business. (Brent Ambrose) Additionally, 60% of new jobs conceived in the private sector were done by small businesses.

Read More
1291 Words | 6 Pages

For many students, their first two years at college are spent taking required classes outside of their major. Since many students are stuck in classes that they will never remember or need material from, this is an extreme waste of money. In the opinion article “General Education Requirements are a Waste of Money, Hurt the Economy,” Jay Cranford, a finance major at Louisiana State University, discusses his how these general education courses are adding to students’ debt. He argues, “LSU students pay around $291 per credit hour in tuition and fees per year, which means over my college career, I unnecessarily paid about $6,111 … This generation of students — making the bold assumption they all graduate — will pay around $34.3 million in general education classes” (Cranford).

Read More
894 Words | 4 Pages

Experts say that the prices of textbooks are increasing yearly because the purchaser is not the selector. It’s understandable, a professor wanting the best material for his students in hope of a better result. But, with a cost two to three times the amount of a textbook that would deliver the same information, is it worth it? Not a chance, like a doctor prescribing drugs before searching for an equivalent in lesser value – you’re only thinking about your practice, the care has stopped with the patient and has now become about self-reputation. Offering help to a better future with the stress of affording it, creates unnecessary financial hardships that can be counter-productive with the help the patient/student came for in the first place.

Read More
771 Words | 4 Pages

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.

Read More
901 Words | 4 Pages

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.

Read More

More about The Importance Of College Debt

Related Topics

Open Document