ipl-logo

The Pros And Cons Of College Debt

1095 Words5 Pages

it’s 2016 and that average debt is probably double by now. Every day people do not have that much money to pay back their college debt. “About 70% of 2013 graduates left college with an average of $28,400 in debt” (Bidwell). $28,400 is about the price of a brand new car. This is thousands of dollars that students will have to work all of their life just to pay off. Students just out of college do not have $20,000 laying around to pay back for their college debt. Many graduates chose to use a 20 to 30 year repayment plan. College debt does not only affect the student but it can also affect their future families. If they can’t pay off their student debt they might not be able to pay for their future children’s schooling, or it may influence …show more content…

When financial aid covers the wrong thing students end up getting jobs and work long hours, and most end up cutting their time in college a couple years short. Financial aid should be going to students and families who are actually in need of it and cover costs of the important things such as, books and other fees. Student aid and scholarships do help lots of students but, is it helping the right ones? Even after all of this financial help many students will still end up in thousands of dollars of debt years after graduating college. College should be free so that students who can not afford the annual tuition costs are still able to attend college and get the degree they want. There are people all over the world that want their dreams to truly come true. Colleges do not think about poor inner city kids or those who live in a one parent household with 5 siblings. They only serve those who will feed them money. They could care less if you do not have enough money. Colleges are really cruel in the fact that they will sit and take every dime you have but the second you stop paying them cause an emergency happened they do not care about

Show More
Related

The College Debt Trap Summary

484 Words | 2 Pages

The important information that all college students and families should know is how much will the education cost and will they be able to repay the loans after graduation. “Perhaps the most important mathematic exercise your child will ever have to do—and the most widely neglected—is figure out how much it will cost to pay back her student loans” (Bodnar, 288). Knowing the total amount of your education and how much the monthly loan payment will be after graduation will before entering college is very important and should be considered before entering your chosen university. This topic is important because many college graduates have a hard time finding jobs where they can earn enough money to pay back their loans and still have enough money to pay their monthly bills. Many student go into default on their loans and have their wages and income taxes garnished and this will affect them for years to come when they are looking to start a family or buy a

Read More

The Pros And Cons Of Free College Tuition

996 Words | 4 Pages

" In fact, dependent students in the lowest income quartile received enough grant and scholarship aid to cover the cost of tuition and leave $3,100 to cover other expenses" (Tuition is not the main obstacle to student success; Should community college be free? P.Kell Andrews, Goldrick-Rab Sara; 2016). Another reason according to those on the con-stance side, is that free tuition could cause low completion rates among students. "The National Student Clearinghouse estimates that less than 40 percent of students who start at a public two-year college complete a degree or certificate within six years.

Read More

The Pros And Cons Of Student Loan Debt

1149 Words | 5 Pages

“Forty Million people in the United States are dealing collectively with $1.2 trillion in student loan debt” (Dickinson 37). College tuition has rocketed to “66 percent” (Noah 11-13). College Tuition is up “500% since 1985” (Dickinson 37). The rates for older borrowers has risen from “6 percent in 2004” to “12 percent” in 2013 (Patton A10-A11). “40%” of American households have a student under 35 that has student loan debt (Jones 57-62).

Read More

The Pros And Cons Of Student Loan Debt

1031 Words | 5 Pages

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.

Read More

The Pros And Cons Of Total Student Debt

890 Words | 4 Pages

That's enough money to last anyone more than a lifetime and it doesn't help that the cost to attend college is increasing only making it harder to pay off. Tuition at a private university is now roughly three times as expensive as it was in 1974, costing an average of $31,000 a year; public tuition, at $9,000, has risen by nearly four times” the NY times states (Davidson, 1). For middle-class families that most nearly sounds impossible to pay off especially because it's costing them more than their annual income. The average middle-class family earns about $250,00 a year. This ultimately forces many students to drop out which is only hurting.

Read More

Argumentative Essay: The Rise In College Debt

730 Words | 3 Pages

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

Read More

Should College Students Get Paid After College

945 Words | 4 Pages

Loans can quickly turn into a substantial amount of debt by the time a student completes their standard 4 year degree. As a result, this debt can carry on throughout their adult life and make starting that life more difficult. “A record share of students are leaving college with a

Read More

Argumentative Essay On College Debt

357 Words | 2 Pages

“First, research shows that the highest college loan has hit $30,000.” That is a problem. There are numerous of ways to resolve debt. There are: scholarships, grants, financial aid, etc. Being so far in debt can hurt your credit and discourage one from ever graduating the college they are participating in.

Read More

Argumentative Essay On Student Debt

513 Words | 3 Pages

Student loan debt is one of America’s biggest issues today. It is a problem that many leading political and economic figures are trying to solve, but have not yet succeeded. The nation’s high record of $1.34 trillion in student debt is not only troubling households but it is also disturbing the economic lifecycle. Students are not required to make payments until they graduate. But once they do, entry-level wages and salaries could take up to decades to pay off loans.

Read More

College Debt Argumentative Essay

632 Words | 3 Pages

if youve ever had to stress about college debt, i’m here to tell you not to worry. in fact, college debt isn’t as bad as it seems. most people view debt leftover from college as good debt, and most college debt sob-stories are the few percent. i’m sure you’re wondering about the people who have over 100,000 dollars in debt, too, right? college is an investment in education, and getting a college degree on its own will get you an average income bump of 25% when you get a job.

Read More

The Pros And Cons Of College Debt

261 Words | 2 Pages

One of the biggest issues our society faces today is paying for college. College tuition alone is expensive, but then they want you to pay for books, room and board, and basically to give up your first born child to go to school there. It is a hassle in itself to meet the certain criteria that colleges ask for. If you can get a full ride somewhere, you have to be Albert Einstein. It is all such an intimidating process once you get there, I’m sure.

Read More

Persuasive Essay On College Student Debt

947 Words | 4 Pages

Graduating Debt (A discussion on college financial planning) College, it’s something that sits on the backburners of our minds until now. Senior year has finally come, and we are all scrambling to get into the college of our dreams. There’s just one problem, money. Most college universities cost upwards around twenty thousand dollars a year, and that is for in state students.

Read More

Argumentative Essay On Student Debt

1437 Words | 6 Pages

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.

Read More

Argumentative Essay: The Cost Of College

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

College Admissions Essay: The Price To Live This Life

1174 Words | 5 Pages

College is there to help improve your financial income, but it seems more often than not, students get dragged down by debt from the loans that helped them get in. “Taking out loans to finance a college education has left many young people in a position similar to that of the first Europeans who came to America as indentured servants.” (Williams) Jeffrey Williams hits the nail right on the head by stating the severity of student loans and the debt that follows up. After they finish their degree, those who finished college have to worry more about paying off their debt then they do their rent, and that is if they even can.

Read More

More about The Pros And Cons Of College Debt

Open Document