Certain people are limited in income and cash. They cannot afford to expand their buying needs when they want. They live in a poverty level and cannot afford to buy a gift, a car, a house, or pay unexpected bills. Others have the same issues, but their financial problems have been handled. They all try to recover their life when financial difficulties arise. Rich people seem to not have any of these issues. Loan might some of solutions for struggled people. Loans are always available for everybody who wants, but the approval requires a good credit history, so not everyone is approved. College student loans are available for students who cannot financially afford to pursue their studies, personal loans, and also home mortgage loans. …show more content…
It took her less than two years to pay it off. She had moved back in with her parents, she spent six months living rent-free with Mom and Dad. From then, she moved back out and stuck to a hardcore budget, tracking her spending for three months. She was also able to commit two large incomes of her tax returns.In contrast to Cattie Gutierrez; who has one hundred-twenty nine thousand dollars in federal student loan debt. After graduation, she had her first job in her field of study and then lost it within the first 3 months. She did her best to find other jobs with minimum wage when the recession began. She continued making payments as much as she could. At that time she was in ninety thousand dollars of debt. She felt hopeless about finding more work. In every company she applied they required at least four years of experience. She is afraid she won't have money for a new car, or to pay rent or have a normal life. These two opposite experiences have one thing in common which is the debt, one has ended with success that Flauders has to shrink her life to the minimum with some help and tracking everything, and the other one has ended with failure that Cattie tried her best to find a good job that pays good with her field of study, so she can pay off her
Another reason people become poor is that they spend their earnings on their "wants" and not on the necessities. That then leads to the realization that they cannot pay rent/mortgage and are evicted. But for the reason to spend their money the way they want was influenced towards bragging rights and/or the "want" to feel a part of the wealthier. Cottom observed that, "Errol Louis and his belief is held by many people, including African Americans, poor people, and formerly poor people that spending money excessively is not logical." Furthermore, it could be an addiction problem for some
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
Many Americans are seeking an ideal presidential candidate for our next election; furthermore, many college students seek a candidate that has their best interest in mind, leading many to focus on Bernie Sanders and his ideas for an affordable education system. In the article, The Myth of the Student Loan Crisis, Nicole Allan and Derek Thomas focus the article on the risky investments of college and questioning the rising debt levels as a national crisis. While Allan and Davis claim the risk of college and mention rising debt levels as a national crisis; however, Allan and Davis use charts to support their stance while avoiding the issues Americans need to focus on, such as the rising cost of college, “justifiable debt”, and the cost of those not contributing to society.
Doyle states in his article, “As of this writing, the total amount of outstanding student loan debt has been estimated at $960 billion (Kantrowitz, 2011).” Right now, there is only 7.4 billion people on earth, but not all of those people are in debt. So, massive debt with not near enough people to even cover the debt on the whole planet put this issue into perspective. Many people talk about applying for scholarships but scholarships can only cover so much of the price, and even then, the scholarships aren’t guaranteed. Now what about paying off the loans? How will that take? “First, incomes vary tremendously across different choices of majors and professions. Second, the incomes of individuals starting out in the labor market vary according to the state of the labor market at that time.” There are many different factors that go into this process. As stated in the previous paragraph, those who do both work and school are more apt to pay their debt off at a quicker pace. But, how much they make and how often they paid is another contributing factor. If the average college student is making minimum wage (part time) and is going to an in
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
As students near the end of the academic year, they are constantly faced with some of the same choices the generations before them have been presented with too. The biggest question a lot of seniors in high school have to answer is if they are going to be attending college or not. There are a lot of legitimate reasons as to why a person might not attend a college, but I personally feel like everybody should have a higher education if they have the opportunity to do so. One of the biggest reasons that people do not have the opportunity to pursue higher levels of school is the fact that they do not have enough money to pay for it. With the staggering amount of debt, the majority of students incur in college, it is becoming a
Children of the twenty first century spend nearly 13 years in school, preparing for what is college, one of the only ways to achieve the so-called “American Dream”. College is the best way to start an advanced career and go further than one possibly could if college degrees were not available, allowing people to achieve their view of the American Dream; whether it be large houses, shiny cars, multiple kids, or financial comfort, college is the stepping stone to achieve the American Dream. But all great things come with a price, college dragging along debt. Students who attend college struggle to find ways to pay for it, leading to applying for student loans. These loans a great short term, paying for the schooling at the moment but eventually the money adds up
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).
Fighting the cost of college tuition is a hot topic these days. As long as I can remember, tuition has always been a reason why most people don 't pursue their bachelor’s or even associate degree. Today 's society has changed students are fighting for grants, financial aid, and even loans to pay through school. In order to be financially comfortable in the 15th century a college education is a must. It is an everyday battle getting financial support from a college’s administration. Colleges need to be more affordable, obtaining funds less stressful, and colleges must enact policies that condone these principles.
This question seems to come up a lot, so I figured that it's time to address it with an article. The best way to answer the question is this way: In bankruptcy, SBA guaranteed debt is treated like any other debt. It gets no special treatment because it carries an SBA guarantee. In many cases, the fact that the loan is SBA guaranteed never enters the equation. Why?
Attending college has changed quite a lot throughout the years. When it first arose, it was only accessible to the wealthy, and it was unheard of for everyone else. Only a few decades ago a bachelor degree could almost guarantee a comfortable job, and it was another advantage to any resume. In our current times, many students struggle and are unable to go to college due to the rising price tag that is not showing any signs of slowing down. A college degree is what most employers look for now-a-days, making it more essential than ever before. Unfortunately, it is becoming increasingly difficult to attain one. College tuition and fees should be lowered because 1) student loan debt is crippling for college graduates, 2) lower tuition will increase the accessibility of education, and 3) regulated tuition would lead to a
“Proper society did not think about making money, only about spending it.”, said Barbara W. Tuchman. This quote shows our real world, and the people that spend money, but they forget about the value of money. Nowadays people want more that they have. They forget how many things they have, and how much money they spend. Most people when they see other people having something better, and in that moment they want to have it also. Also, people forget how hard they got that money, but how easily and quickly they spend it. In the article “The treadmill of consumption” by Roberts, he says that people are willing to go into debt to buy certain products and brands. That is right that people can do crazy things to buy certain goods.
A diverse array of arguments concerning the costly price of college and its equivalence to the ultimate result of attending persists along a vastly debatable spectrum of economic and social influences. Those seeking a better standard of living by the means of higher education often find themselves in conditions that are more adverse than their lifestyle prior to attending college. Efforts to dwindle the expenditure of college education have the potential to produce a heightened reality of the world, with intellectual knowledge as a pivotal key. The expensive cost and limitability of a college education has potential to invoke incentive to work harder in one’s studies; however, the cost can crush individuals enrolled, obtaining a college degree does not ensure employment, and an excessive number of individuals are hesitant to attend college in the first place due to the prevalent debt tied to its completion.
It is no question the number of students that are in a position where they are completely devoted and dedicated to striving for an education seeking a great career. However, it's no surprise that to many of these students their opportunities toward their dreams begin to minimize when the concern for the cost of education is taken into account. The way financial aid is given out is considered to be unfair to countless people. Financial aid is a need-based aid given to students based off of their family’s financial information. To some this may seem like the most reasonable way to handle it.
What do you mean the card didn’t go through? Our heart races, we get flustered, our hands start to sweat, people behind us are getting angry and snickering. I think it’s safe to say that we’ve all either been in this situation or seen it happen. Although, credit cards provide breathing room when we don’t have cash, they aren’t always reliable. Face it, most of our day to day transactions are increasingly being taken over by phones. For instance, apple pay, yes there is still a credit card being used, but the payment aspect itself is done through our phone. Alternatives such as google and android pay follow the same concept. Frankly, cash and plastic cards are commodities of the past. Although we still use both on a day to day basis, people