Student loans have been around helping college students since 1958 in the United States of America because of President Dwight Eisenhower. Financial support has played a huge role in how many people go to college. When an individual is approved for a loan he or she is responsible to pay the amount due to the lender and more because of the high demand in interest rates. Student loan debt has become an epidemic in the United States of America. Does the amount of student loan debt have an effect on the economy? If so would forgiving student loan debt help lower the national debt or would it just increase it? According to Mary Claire Fischer “two-thirds of students who receive bachelor’s degrees leave college with an average debt of twenty-six …show more content…
However, there is a problem with student debt even with these programs because not all graduates are able to get into the program. There needs to be another way to lessen student loans besides just the programs that they can apply to. Interest on student loans should not increase at all whether the student has graduated or if the student is still in school. Interest should not increase because the student is in college to help people in today’s society by learning to become either a teacher or a doctor. Why should students get punished with thousands of dollars of debt when all they are doing is trying to help people? This would help to cut down on student loan debt some, but we still need a better …show more content…
In today’s work field businesses usually search for well-educated individuals to add to their successful team. As student enrollment drops there are less educated students that graduate. This makes it difficult for businesses to find individuals with the right knowledge, training, and skills for open positions. When a business is understaffed, they have a difficult time in keeping up with the speed of technology. For example, a company that deals with business marketing would be more than happy to hire an individual who took classes in advertising, economics, banking, and statistics. If an applicant is not educated in this type of field but has little to some experience, businesses are likely to turn them away and wait for someone who is qualified for the position. Individuals who are not properly educated do have other options in today's work field, but a majority of those jobs will be minimum wage or close to minimum