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Negative effects of student debt
Problems of student debt
Problems of student debt
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More handpicked essays just for you.
Negative effects of student debt
Problems of student debt
Problems of student debt
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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
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? ?
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.
Chen and Wierderspan begin the journal exploring the declining amount of grants and loans in the total aid given to undergraduate students. This decline of grants and loans has increased the demand for students to borrow money. Increasing student loan debt calls for examination about the quality of life and economic stability for students after college. The amount of student debt is explored in alliance to college graduates ' earnings where policy factors like grants not being able to keep up with the rising prices of colleges and the increase of college graduates obtaining part-time jobs. Ethnicity differences are also considered in the variation of student debt among students.
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.
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.
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.
More than forty-five million Americans are currently suffering from student loan debt. Student debt has been an ongoing dilemma for decades. People have opposing opinions on who is to blame for this conflict, with one side believing the parents’ and students’ are at fault, and the other believing the colleges are to blame. Although there have been many plans to help solve this issue, it unfortunately still remains a problem. Student debt in the United States is an issue that affects current and former college students and can be solved by forgiving or decreasing student loans.
The introduction, the thesis, the body, and the conclusion are necessary for an essay to be effective. Some authors are able to produce such an essay, but others are unable or choose to make an essay without the necessary parts. Two authors debated on the subject of student loans and both had different views. The first author is Robert Applebaum who is a graduate of Fordham University School of Law and his essay is titled “Debate on Student Loan Debt Doesn’t Go Far Enough” republished in 2012 talks about forgiving student loan debt and why there is a problem he states, “Adopt legislation that forgives excessive student loan debt after a reasonable repayment period”. The second author is Justin Wolfers an economist who graduated from Wharton
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 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 $37,172 in student loan debt…” (Friedman). With the debts being over the average income for single people households, college has transformed from a benefit to a burden. Young adults not only have to worry about their education but also paying for the next semester or years of college ahead of them.
Most of my friends who are currently in college have between 5000$-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 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.
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
Parents across the nation have found it much harder to pay for their children’s education due to these rising costs. For example, in states like Arizona, Georgia, and Oklahoma “parents have seen a 77 percent increase in costs. In Georgia, it's 75 percent, and in Washington state, 70 percent” (citation). These rising costs would be especially challenging for young adults. Working for a college education is a challenge, and many cannot overcome it.