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College debt students essay
Problems with student loan debt
Issues with student loan debt
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Martin, Andrew, and Andrew W. Lehren. “A Generation Hobbled by the Soaring Cost of College.” The New York Times. 12 May 2012. 31 Aug. 2016
Martin and Lehren’s article “A Generation Hobbled by the Soaring Cost of College” addresses the issue faced by current and former college students dealing with large amounts of debts due to student loans. The article presents the reader with stories of former college students who have either graduated or dropped out, and their struggle to pay off their student loans. The article also talks about issues such as students not being informed about high amounts of student loans and why student debts have increased. Martin and Lehren also make the issue of student debt more intimidating by giving examples
The article addresses the issue of college debt preventing college graduates from taking out loans on other items such as a car or house. It claims that this statement is false and that within about two years of graduating, students have caught up with their debts enough that they are okay enough to make these purchases. An example used is a study done by TransUnion between two groups; one with college debt and one without. The study results display that the group with student loans ended up have better origin rate percentage with their purchases after two years than the group without
01 Dec. 2014 7 Sept. 2016
“The Good, the Bad and the Ugly of Student Loans” references many great points that recent college graduates or futures college graduates should follow. These include paying student loans fully and on time, as well as consideration of refinancing. The article’s main purpose is to help college graduates prepare to pay off their student loans carefully and correctly. It chooses to focus on the good points of paying off student loans, giving hope to those who may be worried about paying them off. While helpful, “The Good, the Bad, and the Ugly of Student Loans” is very repetitive in its information. For example, the article has two separate paragraphs saying that it is a good idea to pay in full on student debt. While this is a great point to all current and former college students, there isn’t any need to say it twice. The article also heavily lacks support for how each of the points made can help. There is very few amounts of evidence or examples as to why these are good points to follow. However despite the lack of evidence, the article does offer helpful tips that should definitely be taken into
In the argument, Debate on Student Loan Debt Doesn’t Go Far Enough, author Robert Applebaum, graduate of Fodham University School of Law, asserts that excessive student loan debt should be forgiven after a reasonable repayment period and suggests this would stimulate the economy because former students would have more money to spend(Debate). He backs up this claim by introducing the Student Loan Forgiveness Act of 2012, contending that education should be a right that people of all classes can benefit from, and addressing both the individual and the economic drawbacks of student debt in the middle and working classes(Debate). Applebaum
Many people would agree that our country’s young adults have and continue to incur a lifetime of debt by enrolling in college. It’s become an almost acceptable understanding that if you plan to attend college, you might as well expect to graduate with an enormous amount of debt. Robin Wilson, a reporter for the “Chronicle of Higher Education,” and author of “A Lifetime of Student Debt? Not Likely” suggests student loans are very real and can be life altering.
Preparing for college before hand is a key role in not paying a student loan debt. Ending college with no debt in key, and doing it with success is a self-bonus. A total estimate of one-trillion dollars is the amount of today’s student loan debt. Students need to see new ways to not be one to fall into this great
According to the Bureau of Labor Statistics, college tuition and relevant fees have increased by 893 percent (“College costs and the CPI”). 893 percent is a very daunting percentage considering that it has surpassed the rise in the costs of Medicare, food, and housing. As America is trying to pull out of a recession, many students are looking for higher education so they can attain a gratified job. However, their vision is being stained by the dreadful rise in college costs. College tuition is rising beyond inflation. Such an immense rise in tuition has many serious implications for students; for example, fewer students are attending private colleges, fewer students are staying enrolled in college, and fewer students are working in the fields in which they majored in.
It is a norm and expectation in society today for students to pursue higher education after graduating from high school. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all time high with so many people graduating from college, and having difficulties finding jobs in their career fields, so they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.
Jon Marcus, an editor for the Hechinger Report, examines how long it will take for a college student to graduate and how it affects the cost of getting a college degree, “The Reason College Cost More than You Think”. Marcus was an online writer for Time in 2014, and he mostly writes about higher education, mostly it is about college. College cost more than a person thinks because of the length that a student will graduate college; courses that a college student takes time and expenses that need to be paid
The second chapter of this book advocates students to attend college, even if they must take on a moderate amount of student loan debt. They give statistics showing the tremendous gap in wages between a college graduate and a non-college graduate. The third chapter of this book argues the opposite viewpoint of the second chapter. The author states that the cost of college today is too high and that there are too many college graduates flooding the job market causing many of them to go unemployed or seek low level jobs that do not pay enough to pay off their student loans. Both of these chapters will help me to show the two main ...
Student debt is more and more popular with nowadays. Education becomes necessary, so it is the reason why more students have to take out the loans to helping for their education. The article " Forgive students loans" by Richard Vedder was written to oppose the current student loan program for college students, and he argues for legislation proposed to forgive loans. He thinks that the impact on student loans debt to the economy of America is seriously, and it can be a big trouble for finance of America. He presents this story in the form of an essay in which he shares his argument and reasons why the student loans are bad. This paper will evaluate the quality of Vedder’s writing weakness because his essay has many flaws and not enough evidence to convincing the reader.
In that year, the number of college graduates was only 432,058 (Sourmaidis) and ever since the demand continually increased as did price. This trend allowed for the student loan crisis to occur, which is a problem we face today. As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements).
Loans, of course, need to be paid back by students, and this ultimately affects the students’ quality of life after graduation as a certain amount of their income will go to paying off their loans. This also has socio...
Over the last few decades, college tuitions and fees have increased by over one thousand percent, surpassing every category associated with the cost of living including food and medical. This unprecedented rise in cost has resulted in an avalanche of issues for young and middle-age adults. As, a result of steep student loan amounts, graduates are being forced to move back with their parents, fewer young people are becoming homeowners, they are delaying retirement saving, and are dropping out of college at an alarming rate of nearly fifty percent. With all the controversy surrounding the topic of increasing college cost, the revised income-driven repayment program has been created to help borrowers pay back student loans according to their income.
Through my research I hope to explore the consequences of education debt on college graduates’ lives, including career choices, consumption pattern and lifestyle choices. Meanwhile, I want to discuss some feasible alternatives to minimize student loan debt. My intended audience will be the American college students and their families. The other audience I want to reach is those education policymakers. The contribution of this research will be to help students better understanding the consequences of indebtedness and making informed and careful decisions on paying for college. Also, it will raise the awareness of education policymakers, prompting them to improve our existing student loan policy. As a college student, how to finance a higher education is closely related to my personal life. Through the research I hope that I can acquire enough information on the pros and cons of student loan, and other options to minimize the student loan debt, so that I can make careful decision on financing my college education.
THESIS: There is a growing number of students with credit card and student loan debt at Broward College. Not all of them are conscious of the fact that their debts continue to gain interest over the years and leaves the student in a precarious financial situation if left unchecked. The students need to be informed of the methods by which they can avoid or deal with student credit card or student loan debt.
Going to college usually includes a sum of debt to help pay for the tuition and college expenses a student might incur. In fact, in 2012 the average balance of loans for undergraduates was $25,900. (Johnston & Roten, p. 24, 2015) This can create a huge challenge for individuals as they exit college with such a huge amount of loans to repay. “Student loan debt rose by 328 percent from $241 million in 2003 to $1.08 trillion in 2013” (Johnston & Roten, p. 25, 2015). While financial aid is available, sometimes it can be confusing and the amount of debt can become unmanageable. This article focused on repayment plans for these high amounts of debt.
In Chris Lewis and Layla Zaidane’s Here’s Your Crisis: Student Loan Debt Isn’t a Myth, it is argued that student debt in America is a problem. By the time I graduate college I will be 20 thousand dollars in debt.