Essay On Student Debt

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Student loan debt is a rapidly growing crisis among current and former students. This loan debt can and should be lessened by cutting the costs of college. As stated in "The College Debt Crisis is Even Worse Than You Think” by Neil Swidey, college is sold as an extraordinary investment that will allow even the poorest person to rise into wealth. However, as also stated in said article, these students are left with a debt so large they often go broke before they get the opportunity to earn large amounts of money. Allan and Thompson claim their article, “The Myth of the Student Loan Crisis” that the student loan crisis is but a mere myth. In this article it is said that college is at an affordable cost and is a reasonable range to pay off if a person can get a job in their field. They also mention that while the common scare of a debt of 100,000 thousand dollars or more is possible, it is entirely unlikely and the average student will have a lesser and manageable to pay off …show more content…

The current student loan debt overall in the US is over 1 million (Is the Student Loan Crisis a Myth). This massive collection of debt is affecting the economy as a whole since students are neglecting other payments to focus on college.
According to Allan and Thompson however, this collective debt should not exist. They believe that the student should be able to receive their respective degree flawlessly. This gain of a degree should then lead the then former student to be able to find a job in their field and pay off their debt in a timely fashion. Another mentioned factor of why this student loan debt should not exist is scholarships and grants. If a student receives enough scholarships and grants then paying off debt should be a breeze, if they have any debt at

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