Jeanette Juachi, a high school senior, who has been granted admission at Cal State Dominguez Hills; however, with her mother unemployed and her deceased father, she has been left with the burden to meet her annual student obligation. She tirelessly works as a cashier at a supermarket, after her long day at school. The price of tuition has been rapidly increasing over the past few years; therefore, many families are questioning whether college is worth the cost and hassle for those 4 years. While a college degree can lead to a more lucrative and fulfilling career, it can also engender a huge financial burden that can encumber graduates for many years to come.…
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…
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…
The Project on Student Debt (2007, September). Student debt and the class of 2006. Berkeley, CA: The Project on Student Debt. Retrieved November 20, 2007, from http://projectonstudentdebt.org/files/pub/State_by_State_report_FINAL.pdf…
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.…
This article summarizes that college debt keeps increasing every year because college tuition is getting more and more expensive. They also say that each university tries to see what money they can bring in to help students pay for tuition. When students get out of college they have to pay the debt back after a six month period grace. To cut some of the costs they are trying to combine some of the colleges together so the tuition rates are not as high, as if they were separate universities. Now that technology keeps getting more advance each year, people are starting to take their degrees online, because they can get there degree quicker.…
College. It's what millions of naive young adults look forward to. It offers freedom from nagging parents, freedom to sleep in, freedom of self-expression, freedom to become anew. However, amongst the excitement of arrival, the sprite youth disregard safety. Thus, they inflict upon themselves a terrifying disease by the name "Debt".…
I live in Oak Hill Ohio which is located in the southeastern part of Ohio. Throughout the 18 years that I have lived here I have watched my father struggle from job to job. I have watched him leave the house at five o'clock in the morning to drive to work and then watched him arrive home at around six o'clock in the evening. All of this work and the money gained cannot support a family of five for seven days and still, there are some worse off.…
Sixty-eight percent of adults with student loans and whose children have loans are unhappy with the way they financed their own or their children's college(Journal of Accountancy). Sixty-eight percent, that is a disturbingly high number, that means that six out of ten students right now will regret how they paid for college and consequently will lead them along to the wagon that is debt. If we are to stop the rising influx of debt: teaching students about how to operate their finances in college will result in a reduction of students with…
Even if it seems like they are growing up faster than any other generation before them, teenagers are still developing the basic attitudes and perceptions that will form the basis for life-long consumption patterns. It is often at this age that teenagers find their first jobs and start earning an income. Their goals are not typically to save or to invest for long-term financial security. For the most part, parents are still taking care of their teenagers’ needs and are still assuming responsibility for most of their purchases. For young teenagers, though, earning money means acquiring purchasing power. Now they can buy the things that used to require their parents’ permission. It’s one more step towards independence. It’s important for parents to remember that teenagers are still learning how to spend money. Help them focus on the rationale behind the purchases or demands they make. Point out how advertisements and marketing campaigns play an important role in decisions about spending.…
In today’s society kids are always spending their money. It’s the result of children watching their parents spend money. As a child you can tell the difference between spending money on something they want, or saving it for a legitimate reason. Teenagers have absolutely no idea how to save money wisely, and non-impulsive. Teenagers need to be taught, and need to learn how to save. If not, as they get older they will go into debt and have a hard time getting themselves out.…
While lot of parent’s concerns revolves around promoting unhealthy competition amongst children on the amount of money they get and loss of control on a child’s spending habits, there are also some positive lessons for teenagers such as inculcating money management skills and making tough decision regarding spending desires that offer less value to their…
While students are getting busy developing and learning about their chosen professions foreseeing themselves doing successful individuals in the near future, we can’t deny the fact of the increasing costs of college education, that make students find themselves in a world of uncertainties regarding financial situations.…