Essay On Student Debt

Making College tuition free would over-all result in a more educated society. “We have made K-12 education free because it is good for the individual and for society. The same is true for higher education” (Page).

When we think about college and a college education, it seems as though our first initial thought is the student loans and debt that can result in achieving a college degree. Looking back, student debt has risen drastically and has made it extremely stressful for students and families. Many people go through their entire life in debt, especially from being a student. Student debt has always existed; however, now, it is so extreme, almost all students who attend college find themselves deep in debt, and must continue paying off their debt many years after they graduate. For the past two decades, student debt has risen, illustrating how big this social problem has become. The reason student debt is a significant social problem is because of how much it can effect a person’s life, and their families lives, that can carry over to their future. Although there were many things that led up to and impacted the drastic student debt that is now being faced by many students around the world, the corporation Sallie Mae, was the essential factor in why student debt has skyrocketed to unreasonable proportions. Sallie Mae provided the first type of corporation that changed its focus from helping students, to helping themselves. The history and scope of the student debt can help us understand that the corporation, Sallie Mae, was the main cause of this problem.

Student loan debt affects college students all over the United States. Today students are having to take out loans in order to pay for all of their college expenses. It can be a pain to deal with the hassle of paying back the loans. The problems with student loans include causing students to go into debt that they are not able to pay them off in the given time which makes them put major life decisions on hold, and the debt stay with the student even through bankruptcy. A solution that would solve these problems is the idea of debt forgiveness which is the idea that the government will get rid of all the loan debt for college graduates.

In the year 2007, 18.2 million students enrolled into college. About thirty-nine percent of those students were between the ages of eighteen to twenty-four (Marcus). College is seen as something one must do to be able to have a successful life or career. Student debt is almost guaranteed for anyone that goes into college. Seventy percent of bachelor's degree recipients graduate with student debt. Student loans in just the U.S. alone are up to 1.2 trillion dollars, this is the second highest level of consumer debt, just trailing behind mortgages (Snyder). Student debt has been an issue for anyone thinking about going into, that is attending, and graduating or leaving college. How to solve this issue is very simple, which is to save money, lower

Student loan debt relief is a controversial issue in America today. Student loan debt affects twelve million college students, roughly 60% of all college attendees, per year (Student Loan Debt Statistics). Student loan debt relief rose to the forefront of economic news during the financial market crash of 2008. The U.S. Government has developed a debt relief plan that extends payments over a 25-year period, with a full forgiveness of all remaining debt at the end of that 25-year term (Ensuring That Student Loans Are Affordable). During this repayment period, payments can be suspended during times of unemployment, giving hardship students a break from their student loan payments. Many people feel that student

A great deal of students turn to college loans to help pay for their many college expenses. A study conducted by CNBC displayed that 59 percent of student’s graduation from a public four-year institution had student loans. After graduation many students found themselves under “student loan pressure”- meaning it will take years of them working in order to pay the debt. Students will invest thousands of dollars towards tuition, housing and textbooks and may be paying the school back for years following their graduation.

What do you think of when you hear the words college graduate? Well, in most scenarios, these words would be exciting to someone that just graduated college who have put in years of hard work and dedication to better educate and promote themselves for their future careers. Sadly enough, this is too far common not the case. In today’s society, students are graduating college with piles of debt at an alarming rate. With a troubled economy that is recovering from a recession and jobs difficult to come by for a lot of graduates with bachelor’s degrees, the student loan debt in the United States is bound to be a major crisis that could severely weaken and crimp the economy even more in the coming years.

I am writing you this letter to share my concern about college tuition and the debt that comes from it. There is no bill in the legislative that pertain to the enormous increase in college tuition, as a college student I would love if you would put a bill in legislative that make college more affordable for every student. 9 out of 10 graduating seniors will have an student loan debt to pay My issue is college tuition is putting my generation in debt before we can get a job in our field of study when we graduate. The tuition debt of college students coming out of college is estimated of 30,000 in student loan debt. College Tuition has spiked in the last 30 years to the put that college is not valuable option for poverty and middle-class teenagers. There is a real need of a bill that helps out student with student loans payments, so that we don’t come out of school with debt.

person or the government). A more narrow aspect of debt is student debt, which is the debt that a

The student loan crisis is worse than ever and more people are leaving college thousands of dollars in debt before they even have a job or any type of income. With the rising cost of college and living expenses, people are taking out more student loans for higher amounts, leaving more people in an undesirable amount of debt and essentially trapping them. “There's currently no way to get rid of federal student debt other than paying off the loans.” (Quinton, Sophie, why you might be paying student loans till you retire). Because student loans are not like other loans they will not disappear if you declare bankruptcy, so the borrower is forced to pay them back even if it means you cannot afford to do so. There is not just one thing that is causing the student loan crisis this is a combination of many things that are being overlooked or ignored. We need to look into the reasoning to determine why this is happening, what problems it is causing and then come up with a solution that can stop the problem. Student loans are a great tool to use if you need financial help for college, but one must be careful and consider the consequences and understand what a student loan is and how to deal with them to make a responsible decision about their financial future.

Student debt has been an increasingly more threatening crisis in the American economy. It exceeded $1 trillion dollars in 2012 and is not showing any signs of slowing down (Kantrowitz). Many students find themselves struggling to pay off student debts as they finish schools with tens of thousands of debt. For many students, debt and loans are their only options to pursue higher education, and because of this, they are often victims and targets exploited with incredibly high interest rates. In order to protect students, the American government passed the Student Loan Certainty Act in an effort to limit the interest rate on student debt and give students a alleviate some of the debt students have in their pursuit for higher education.

65.7% of college students have to get student loans to pay for college, and the average student loan debt is $19,237 for a graduating senior in the United States according to the National Post Secondary Student Aid Study. This is no surprise considering that the rate of tuition increases 7% per year, and in some of the more prestigious colleges, students will have to pay well into six figures just to get their education. Even in-state rates for South Dakota, which is comparatively very cheap to practically everything else, students are still paying $40,000 for their education when one factors in dorm living and a meal plan. Most students will need to borrow some money on a student loan to get through school, but how does one know if they're

In a world placing greater emphasis on monetary earnings, students are expected to pick careers that result in high earnings and attend universities with high costs for the prestige that comes with the degree, but the cost falls on the student while the hopes of society cost nothing at all. The aspirations of young students striving for a higher education in order to obtain a better future are crushed by the crippling debt that follows graduation. This astronomical debt creates a challenge of balancing personal budgeting to get by for the month with paying down the loans of the education that was supposed to be a stepping stone and not a weight.

The first thing that we have to look at for this paper is what is a student loan and how do you get one. There are several different types of student loans that a student can acquire once they have selected an institution to attend. The four major student loans that students look into are direct subsidized loans, direct unsubsidized loans, direct PLUS loans and, direct consolidation loans. These are the major options that we will look at for this paper.

With tuition being free for all students, this opens doors for people that they never knew could be opened. Education should not be something you have to pay thousands of dollars for. Yes, there are costs in everything, but there shouldn’t be costs that lead you to be in debt for decades. With free tuition or even decreased tuition, there would be more students attending college and getting the best out of their education.