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Essays on student debt
Student debt introduction
Issues with student debt
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The stress of work and college is time consuming. Some students go to classes in the morning and work at night or they go to work during the day and take night classes. More and more students are struggling to keep their debts at a minimum. Tuition is too much for most people. Some are working two or three jobs to keep up with the piling payments, others cannot keep going and withdrawal from college and a few don’t even know about financial aid or think they aren’t eligible so they struggle when they don’t need to.
No one’s dream is to work a job they don’t want, let alone two. Tuition ranges from an average of $3,440 a year to about $32,410 (The College Board). To pay for this, students need a job and one they can hold onto for a while.
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They help with a lot of different areas, tuition, room and board, fees and include scholarships and grants. The most common incorrect reasons students don’t apply for financial aid is because they think they are too well off or considered higher class. Bailey also a student at Greenriver college says that someone told her that her and her family are to wealthy to apply for financial aid. This isn’t true there is at least some type of help that anyone of any income can get. “Nearly all students qualify for federal aid, and 85% of four-year college students receive some type of aid… Among undergrads who didn’t seek aid, 44% said they thought they were ineligible for such support, making eligibility concerns the most common reason these students left aid on the table.” (Cook). More people are wanting to go to school but find themselves in a position where they can’t afford it. “University of Maryland School of Law in the late 1950’s the tuition was about $200 per year. By 1970 it was about $400. Today if it had kept up with inflation it would be about $2,600. It’s actually more than $31,000. Students deserve better” (Jealous). That rate of growth is unbelievable. Susan a student at the same college and is a gymnastics coach says, “my mom expects me to get all A’s and to work to be able to pay for insurance and gas and for the extra activities and some of tuition, when I don’t live up to the standards I feel like I not only let her down but also myself.” Financial aid is a good program and I believe everyone should take the chance so that tuition isn’t taking as much money out of your pocket, and so people like Susan can be happy and enjoy
One of the biggest issues that many students and parents have concerning college education is the cost. Due to the state of the economy, affording college has become very difficult. Fortunately, the government is able to provide financial assistance in addition to the University’s own financial aid. Case is a private institution which means that it costs more compared to a public college. The tuition for Case was approximately, $38,000 in 2007 not including living or book expenses. Even though there was a tuition rate increase for every following year. The only way I was able to afford the tuition at Case was because of the scholarship I earned. In addition, I received federal grants and a substantial amount of aid from the University. I did not have a free ride but I received a great deal of financial help to pay for my college education.
Rep. Dick Zimmer predicts that at the current rate of rising college costs, by the year 2000 the average price tag for attending a four-year public university will be over $50,000 and the average four-year cost at a private university will exceed $104,000. (College costs continue to climb, 14) During the years between 1970 and 1994, the consumer price index increased just under four times, but the average cost of tuition, room, and board at four-year public colleges went up nearly five times, and private college costs rose almost seven times, from just under $3,000 to over $20,000. According to the U.S. News Cost of College Index, the average middle-class worker must now labor 95 days to pay for a year at an average private college. Two decades ago, it took slightly more than half as long to pay for the same education. (Elfin, 90) By 1994, the average four-year cost at a private college was over three times the typical family's annual income. (Reiland, 59) However, The College Board recently announced that US college tuition and fees for 1996-97 increased at nearly the same rate as they had in the previous year, adding that the more than $50...
The price of a four year institution has soared over three hundred percent in the past twenty-five years or so. We would have to factor in general inflation numbers in order to figure out the real significance. After that, we see that in those twenty-five years, tuition has risen at a rate of two to four times that of the national inflation. That has not been the case with college, however, as enrollments only continue to go up. Ultimately this means that families are paying for a luxury they can no longer afford with money they don’t have. Families are looking at an expense that is thirty-eight
Graduating from high school is a proud moment in every student’s life. They must prepare what comes next for them whether it’s to get a job, start a career, or pursue continuing education. The cost for a college education can be overwhelming. There are many factors that play into the cost of going to secondary education. College tuition, fees, books, supplies, transportation, personal expenses, room and board. These expenses can vary for public community colleges and four year universities, public or private universities, and state residents or out of state residents. Community college tuition can range from $1,000-$12,000 for state residents and $4,000-$30,000 for non-residents. Four year college tuition can range from $4,000-$16,000 for state residents and $10,000-$35,000 for non-residents. Private four year institutions can cost as much as $25,...
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
For most families with teenagers applying for colleges there is one main question―what will it cost us? According to The College Board, the average cost of tuition and fees for the 2013–2014 school year was $30,094 at private colleges, $8,893 for state residents at public colleges, and $22,203 for out-of-state residents attending public universities. Although these numbers are averages, the actual costs of colleges are widely varied. A sad truth about this is that many students and their families don’t even know where all their money is going. Normally the money is paying for tuition; fees; housing and meals; books and school supplies; and personal and transportation expenses. As showed in the average cost of college, usually a school has a lower tuition for in-state residents and a vastly higher tuition for ou...
Steve Cohen shows the disparity between the rising cost of college and a family’s capability to afford it. Cohen explains “Tuition has risen almost 1,200 percent in the last 35 years, and the sticker price for many four-year private colleges and out-of-state public universities exceeds $250,000.” Moreover, he goes on to say that even at public universities, it is about $80,000 for four years for tuition and other college related expenses. Later in his article, Cohen explains how this leaves middle-class families in a very uncomfortable situation. The parents or other money-making entities in the household want their student to go to college and earn a degree, but now there can be an element of stress in figuring out how the fees will be paid for. Furth...
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
The reality is that the rise in college tuition is no longer affordable for the average American household. Parents cannot afford to pay for their children’s tuitions on their incomes and students are very often forced to enroll part time in order to have the time to get a job to pay for college. This very often causes a decrease in these students GPA and consequently increases the number of dropouts in the long run. Other times, it will take these students double the time to complete their degrees. Students are faced to deal with these problems when deciding whether continuing their education is the right choice.
There are so many students who would extremely grateful to attend any four year institution but can’t because of the lack of funds. College life can be very stressful, and the process can is very frustrating to most students the first two years. When the cost of college tuition is compared to the 21 century financial economy the cost does not make sense, because for a middle-class family it is impossible to afford sending their child to any four-year institution. It hard for students to graduate with the stress to pay-off hundreds and thousands of dollars in loans. Going to college is stressful enough without the need to worry about how we’re going to pay for it and what other costs will continue to rise with getting a degree afterwards. With the current increase of unemployment rate and the thought of going to college seems like a farfetched goal. Many people choice not to attend a four year institution, because they did receive a scholarship or enough government funding. Having a college background is very important for professional growth, it will eventually limit career opportunities. My stand point is, you may not leave college doing the same thing you began with but the life experience is endless. College experience not only gives knowledge that builds you into a better person by giving a broader erosion. With the cost of tuition increasing will hurt our generation, by causing physical and mental stress but in the end it will all pay off. Not all colleges are for the blame; some of the blame is our economy and other factors play a big roll. As students we need to be aware of all our resources offered, such as Pell Grants, and government scholarships. For example, the some states will pay for a student’s college if they graduate high school with a GPA of 3.5 or higher. There are many states that are willing to pay for all or some of college tuition only if students are willing to use
A college education has become the expectation for most youth in the United States. Children need a college education to succeed in the global economy. Unfortunately for the majority of Americans the price of an education has become the equivalent to a small house. The steep tuition of a college education has made it an intimidating financial hurdle for middle class families. In 1986-1987 school year the average tuition at a private university was $20,566 (adjusted to 2011 dollars) while in 2011 the average cost was $28,500 for an increase of 38.6%. Similarly in public universities there has been an increase in tuition: in the 1986-1987 school year the average tuition at a public university was $8,454 (adjusted to 2011 dollars) while in 2011 the average cost was actually $20,770 for an increase of 145.7%. Most families who are able to save for college try to do so, therefore their children are not left with large amounts of debt due to loans. Nevertheless, families are only able to save on average around $10,000, which is not enough to pay for a full educ...
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.
scholarships and many other forms of receiving money to be able to pay for college without
activities are a crucial part of school because it shows you are involved into making your school
Fees and loans are too big of a load for young people to carry. A lot of students drop out do to the pressure of having to worry about all the loans they have to pay back after they are done with college. This should not be an issue to the student. According Iatham Emmmons, “Even worse, a large portion of students never receive funding at all due to the multitude of stipulations that must be adhered to in order to qualify for assistance. A major flaw in the current federal educational assistance programs is that the students’ parents’ income is used to calculate financial need” (Emmons 3). Even citizens who try to get help by applying for funding never end up getting it because they do not meet the needs required for the funding. Education should be p...