In October of 2013, 65.9 percent of high school graduates enrolled in college compared to the previous year of 66.2 percent (Bureau of Labor Statistics). However, in recent years many high school graduates are finding themselves hesitant on deciding whether or not to pursue higher education. Although this can be due to a variety of reasons, I set out to discover one in particular, the alarming cost of student loan debt. Each year the rise of student loan debt has become an increasing concern for prospective students because of the growing pace of college costs and reliance on loans to finance these costs. As a result, the rate of defaults is also increasing among students due to many loans going unpaid. Although there are various types and…
It’s bad enough trying to survive taking out loans for four years of schooling, but what about the students that want to or need to further their education in graduate school? The debt alone makes students stray away from furthering their education or have them wait a couple years to gather the income they need to attend grad schooling.…
College debt is pretty much inevitable for anyone wanting to have an education after high school. I, and most teenagers, do indeed want to go onto college but are scared away by the high cost. I know my family and I are definitely freaked out about the high cost of college. These students, including myself, shouldn’t be scared away so easily, as the high tuition isn’t so high at all. Colleges now have what would be called a sticker price. The first number you see is the sticker price, and what you don’t see is all of the deductions you can make to it.…
The main idea of this essay is to present the purpose of Student loans and their effects on college expenses. “Is student loan a lifetime situation”? “Are students frustrated with college loans”? Is making a decision to borrow money in order to attend college often amounts to a “financial disaster”? “People not paying attention to their debt”? “Is this generation only thinking about the next month’s payment”? “Are students graduating with an enormous amount of debt equal to a mortgage on a nice home”? Main perspectives will be impending from the author Robin Wilson.…
“In Debt We Trust America” was an incredibly eye-opening video for me. Family and friends constantly warn me of the dangers of debt, but I was unaware of just how much of a problem it is. For me, one of the most informational, or perhaps motivational parts of the video, was the portion on students in college. Constant increases in college tuition are putting a more drastic burden on college students and their families. In the video, it mentioned that the…
Student loans become something that students have to worry about for the rest of their lives. Debt will affect a lot of things in their life that college students don’t think about. A lot of students do not realize that they must back the loan plus interest, the interest on some loans can end up being more expensive than the loan itself. After school, they must find a job, pay for living expenses, and pay off their loans. People take on massive amounts of debt and they don’t think of the consequences. They end up with so much debt that it takes them their entire lives to pay off the loans and money they borrowed. Dwyer, et al. writes that taking out loans makes it more likely that a student will complete college, to a point. Students who keep…
Not all students should go to college because college can often cost more than it is worth. College tuition has risen at a significantly higher rate than inflation in the previous generation. With student loan debt having passed one trillion dollars recently, one must ask…
There are many people who want to attend college but struggle with the expenses. Attending college and graduating with a degree will help people live comfortably and achieve their dream job. Many good paying jobs usually require a degree of some sort and people attend school with the help of borrowing money which puts them in debt. School debt piles up after each year of school a person has attended. The problem of college debt has several solutions, and one is superior over the others.…
From personal experiences, many people can concur that colleges is expensive and even after earning a degree can leave a person in debt for a long period of time. Although, financial aid such as grants, loans and scholarships are given to those; many of which, doesn’t apply to everyone. Most of the time, people with unfortunate backgrounds such as low income students have their community college pay off, but a handful of people don’t…
Out of all the students that go to college more than half of them are in debt after graduating. In high school all you hear your senior year is “you need to do this in order to go to college”, “you need a degree to get ahead”. You work 12 years to get a diploma and then get told that in order to go “further” or “do better” you need a degree, but what they don't tell you is that you will most likely be in debt for the rest of your life.…
The story of student loan debt isn't too often talked about, students don’t take it too serious like they should. College students that barely have time to work spend four years thinking about the student loan; how it will affect their life after college; how they will manage to pay it later. Seven in a total of 10 seniors that graduated back in 2015 had a student loan debt average of $30,000. It had increased 4% comparing to 2014 graduates. Within the years, student loan debt has grown at twice; America colleges graduates are lucky if they have some money left to pay the bills, or even to eat regularly. Every year the debt is increasing, but when this will stop? "I believe we have a higher education bubble," says Derrick Handwerk, managing…
College debt is one of the worst debts that you can have because even if you declare bankruptcy you still have to pay the money back. Once there was a man who went to harvard college and he went to be a policeman. little that he had knowed that he was 86,562 dollars in debt and could not pay back the money because he was so much in debt that he declared bankruptcy and lived his life for a while till he tried to buy a new car and found that his credit was bad and that he had not made payment on his college debt and he went through a private loan and now he owns around 100,568 dollars in debt. The story that you should take away is that do not stop paying your college debt.…
Robin Wilson states that students who get student loans, go to college, and graduate are better off than the ones who don’t go to college at all. Especially the ones who end up with high paying jobs. In her article “A lifetime of Student Debt? Not Likely.” She talks about students who attend college and take out student loans. A great student can be one that ends up in the most debt, and a not so great student could be one that doesn’t have to pay back as much. It all depends on how wise you are with money. Wilson talks about how students take out more than they need, they spend the money on unnecessary things such as clothes or video games, these students will be the ones that will spend the rest of their lives paying back their loans. About eight percent of american students borrow at least double the national average, these students are borrowing more than they need. Some students choose defer their student loan payments, one of the major problems with this is the interest rates will go up, therefore, putting the student farther and farther into debt.…
Student loans have spiraled out of control within the last few decades and this is negatively impacting our society. The average of obtaining a degree at a public four-year college is $9,300 and has been steadily rising by four percent since 1985. This trend is most likely going to continue the way it is and all the while the median family income remains stagnant or even slightly decreasing. This has led the students of today to take out more loans and just keep adding onto the growing student debt bubble. This early debt can take a heavy toll on any savings for retirement, plans for homeownership, or a possible rainy day fund. Students today will become the engine that runs this country and student loans make it next to impossible to make it out into the real world.…
This year the average college student will graduate with at least $20,000 in student loan debt (College access and success). For years higher education has been worshiped with God like influence as a way to escape poverty and attain a career and live the American life. With the rising college tuitions it has become increasingly harder for the middle class to afford college and reap the benefits. Seven out of ten students, will have a burden over their shoulders for years to come as to how to repay the debt. Debt is no respecter of persons: business owners, single parents, teachers and seniors to this day are still constantly bombarded with debt.…