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Student Loan Debt: A Student Dilemma essay
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Throughout the lives of individuals, everyone imagines the dream job or the job that is going to make the most money. Most of these jobs need to make it so a higher education like college is needed to be able to even make it in the field. College is not by any means cheap, depending on what college is chosen, yes it can be less money but it is still thousands of dollars by the time the degree is earned. Many people that want to go to college cannot afford it, therefore cannot reach the dream job. In order to make college accessible to those who are truly deserving, incentive programs such as offering financial stipends which can be earned through academic success in high school need to be offered.
Whoever goes to college after high school are going to have a mountain of debts caused by student loans for the rest of the student’s life. College and universities are almost inaccessible to the people who want to achieve the dream job because of the high prices of college. In an article titled, “The Challenge of College Affordability: University of Alaska is a bargain in shaping the future” by Ashok K. Roy, it is stated that “The average student debt is approximately $26,600. Roughly $864 billion is out-standing in federal student loan debt while the remaining $150 billion is in private student loan debt”. People don’t have twenty-seven thousand dollars on hand to just pay for college out of pocket. Most people cannot even have breakfast, lunch and dinner, let alone spending money on college. Many students struggle with debt because of unemployment or under-employment. The same article stated, “The Center for the Study of Education Policy estimates that in 2012-13 the average tuition and fees at a four-year public universities was $8...
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One statistic that Owen and Sawhill presented was “Hamilton Project research shows that 23- to 25-year-olds with bachelor’s degrees make $12,000 more than high school graduates but by age 50, the gap has grown to $46,500 (Figure 1). When we look at lifetime earnings—the sum of earnings over a career—the total premium is $570,000 for a bachelor’s degree and $170,000 for an associate’s degree. (Owen, Sawhill pg 641). Owen and Sawhill also mention that “with tuitions rising faster than family incomes, the typical college student is now more dependent than in the past on loans, creating serious risks for the individual student and perhaps for the system as a whole, should widespread defaults occur in the future. Federal student loans now total close to $1 trillion, larger than credit card debt or auto loans and second only to mortgage debt on household balance sheets” (Owen, Sawhill pg 642). Basically, what the authors are saying is college is expensive, but for some career paths, the training and education received in college is necessary to have that job and the benefits outweigh the costs. With a high paying career where a college education is necessary, paying off student loans is no problem. On the other hand, people who go after low paying careers that don’t necessarily need a college degrees,
Individuals are struggling nowadays to acquire an education higher than a high school diploma. One of the main reasons for this issue could be very well the price it is to attend college. The prices have skyrocketed throughout the years. A lot of the people who attend college have to take out a “student loan,” just so they can get by. I believe one should not need to be in serious debt before they even graduate, all because they want to go out and further their education, and become successful in their life. College is a popular topic for most and Sanford J. Ungar and Charles Murray has a unique way of explaining both their opinions.
The idea of freedom and equal opportunity that America was built on has sadly been lost and replaced with a system of quality education only being accessible by the wealthy. In-state college tuition should be free for all students meeting admission requirements, allowing students from the full spectrum of economic backgrounds to have the same opportunity to receive the same education. The incidence of poverty in the U.S. is directly linked to educational level. When a college degree is earned, income levels rise (College Board). The best use of federal government anti-poverty funds is not another welfare or assistance program; it is to make college education affordable for everyone.
dropout, due to lack of effort, B. finish with an associate’s degree and limit their choices in a job compared, or C. continue after a community college and further their degree at a university. Yet, the third reason is the reason that makes the proposal questionable as to whether it is really a need or if it’s a want by the people that want money handed to them to help their future. If people can afford two more years of college after a community college, or they have scholarships to help them pay for the following two years, then why can they not afford a community college that can be less than a thousand dollars to attend to? The proposal seems to be something that is not totally needed to be one more thing that raises taxes, as there are scholarships for various cases and made to be affordable to further an education after high
Today in America, “The average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year. $1.28 trillion in total U.S. student loan debt...44.2 million Americans with student loan debt”(U.S. Student Loan Hero, 1). We spend our lives working, learning, and trying to survive. In order to survive, we need to be educated. In order to be educated, we need money. To collect money, we need a good paying job. And in order to have a job, we need to be educated. It’s a large cycle that goes around in circles, and we can’t seem to find a steady way to help provide these things for everyone. While we all strive to make the best of every situation, money has become an issue, creating problems in many lives around the world. “According to the College Board, the average cost of tuition and fees for the 2016–2017 school year was $33,480 at private colleges, $9,650 for state residents at public colleges, and $24,930 for out-of-state residents attending public universities” (COLLEGEdata, 1). And it’s not easy to have a positive look on the American dream when our own president in spouting things like “Sadly, the American Dream is dead” (President Donald
Going to college and furthering someone’s future career is a very important part of life.. Making the choice of going to college or not going to college could affect someone for the rest of their life, If a student decides to go to college after high school they will be in debt for many years after they graduate college. “Over the past decade, tuition and fees have risen much faster than inflation and outpaced the cost of housing and health care” (Blumenstyk). Blumenstyk is showing how outrageous the cost of college tuition has become. Whether it is for a University or a Community college either one. Most people spend their whole lives being in debt just because of buying a house and now they will have the burden of paying off their college tuition as well. They may keep getting a bill in the mail that most of them will hate looking at, and also putting down that much money each month for their payment. While college does create the opportunity of increased pay and better jobs, it should not mean students are required to pay all the money they earn back the college. At that point people may as well not go to a
Employers consider a degree necessary for getting a job at their company. However, not many people can afford college. The solution is to take out loans, then college becomes affordable. These loans create a whole different issue, student loan debt. This can affect people their whole lifetime and has been happening for years upon years. But, in the more recent years America is starting to shed more light onto the issue and are becoming curious on why colleges charge twenty five thousand dollars, or more, for a year of education. Many different countries offer free college, but in America student loan debt keeps getting worse.
and tuition plays a major role in students’ decision for attending college. Students according to a 2008 national survey of roughly 1800 students who qualified to attend college 1000 students of those 1800 did not attend college at all. The main reason claimed by 80 percent of the “non-college-goers” was due to lack of money, more especially not enough grant aid. Although a student was well qualified to attend college having no financial aid made their choice to attend impossible. On the other hand, students who couldn’t receive enough grant aid sought other alternatives to go into college like getting loans. Depending on the amount of years one chooses to attend college it can rack up to an unbelievable amount. According to Edvisors, a financial aid website, “The class of 2015 graduated with $35,051 in student debt on average.” Imagine that! It’s no wonder that the students who didn’t receive enough grant aid chose not to attend college. It was because they did not want to accumulate a debt that in most cases they would have to pay throughout their lives, claiming that tuition cost is too much for
According to the National Center for Education Statistics, in 2011, the average tuition for just one year at a four-year private university was nearly $33,000. While the median inflation-adjusted household income fell by seven percent between 2006 and 2011, the average real tuition at public four-year colleges increased over that period by eighteen percent (1). To prove how rapidly the cost to attend college rose, researchers compared college tuition to the increasing cost of healthcare. Research showed that college tuition increased at twice the rate of healthcare costs over the past twenty-five years. While college tuition rapidly increased, average income fell, which left families in deeper debt with each upcoming year. High tuition costs make getting a college education unattainable for many low and middle income students. Luckily, thanks to an up-and-coming alternative to the typical college experience, there is now a chance for some of these students to pursue their dreams of higher education.
Over the past years of getting a college degree was the pathway to get a settle career. College has been a reason for people to carry on after high school. Now that tuition has been raised, getting a degree seems to drain students with more loans and could be in debt. College has been raised to the point where people rather start working at a minimum wage than continuing with school. Working on a part time job would be an easier choice rather than pursuing towards their degree. As people attend college, fees build up and students loaning money and possibly be in debt. Not only that, some may say college isn’t worth it, but it is. Getting a degree pays off at the end going towards your career path, making twice as much as you would work at a regular job. Students who have received a degree are slowly declining. To make adjustment, College should be free for
As stated earlier, the cost of college is too high and it needs to be reduced to a more reasonable amount. It is expected that young adults in this day in age would want to go to college or another post-secondary education school to receive higher learning and to somewhat better their lives. While this is true ...
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
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.
...ave changed and college is extremely expensive now. There are not enough jobs openings for college graduates which leaves them unemployed with heavy debt. The vast majority of jobs in America require only vocational training or a skill certificate. People who do not have the aptitude for college should not be forced into thinking college is the only way to be successful in life. Society should encourage students to explore all job options not just the college related ones, because with the way times are changing getting trained from a vocational school is the best option America’s citizens have.
This also help the student stay out of student loan debt and help the economy by not knowing money back. And in able to get a high education can be very costly depending on where you are going even more if you are planning on going to out of state colleges. But nevertheless they all cost a substantial about of money and that not including other expenses. But in order to achieve this higher education you must rely on you government for grants but, unless your family are like millionaires and you can afford to spend money without a care in the world but 9/10 family’s aren’t like this so you have to apply for grants to help you pay the rest of the way