In this essay, I will discuss a topic many people know all to well the burden of student loans, and should the government forgive all student loan debts. I will explain why I think that it is not totally a one-direction issue with a simple right or wrong answer. There are many factors to consider before you can totally blame the government, for loans that an individual choose to take on their own free will. On the other hand, the government should do a better job of making those aware of the pitfalls that exist in the reality of repayment. The aspiring college student has much to ponder in their quest to realize their dream of a successful career in the field they desire. Does the cost of education out weigh the choice of going for the degree. Should the federal …show more content…
Some have suggested an income based loan system would help the problem we now face. I fully understand that the situation is fully out of control for someone people as we can all make bad decisions. The question is should the government do more than they are already doing. “If the federal government shoulders the entire burden, we are adding a trillion or so more dollars in liabilities to a government already grievously over extended.” (Vedder, 2001, pg.570.). In the American Bankruptcy article titled, Student loan debt the next bubble, it states that “ Outstanding student debt is also at an all-time high; it is approaching $1.2 trillion.” (Grant, Jennifer, Anglin, Lindsay, 2013,pg.44). The recent financial crisis in the past few years has lead many to lose jobs and savings that would allow them to make their payments, with effects still being felt by some today. I propose that their should be more borrowing rules as to not let the debt cost become to high leaving the borrower in a bind right