How could a nation progress if all brilliant young minds are in debt? If nothing is done about current college tuition rates and other fees, those who attend and obtain degrees from universities will spend the first years of their career in debt. Outrageous tuition rates have led young students to seek federal and private loans, which eventually drown the student in debt. Fortunately, there are many ways to avoid seeking loans and avoid loans completely. Through saving money, applying for scholarships, and attending local schools before larger universities, students can prevent the problem of acquiring college debt. Attending and graduating college with some type of degree has practically become a mandatory investment for one’s own future. …show more content…
When is comes to money, saving for long terms goals is harder than acceptings loans when you need the money. However, is sure beats having to pay back loans years down the road. If one were to work throughout high school and save $6 per hour, he could have a savings of up to $24,960 by the time he finishes high school (Steinberg 1). This is an acceptable solution because it does not affect the student’s academic performance adversely. In fact, “students who were employed actually had a slightly higher average GPA (2.72) than those who weren’t working (2.69) (Steinberg 1). Although this solution seems perfect, there are downfalls. Kids in high school need money to do the things that teens do. If a student were who work throughout high school, $2 and some cents an hour would barely be enough for gas and the food they eat on their lunch break. Throw in other teen “necessities” and the actual outcome would be the student saving $2 an hour and spending $6 an hour that they get paid. Additionally, $24K would only cover about one and a half years of tuition at a private AZ university (National Center 1). Although a practical solution, it is highly unlikely for a student to save that amount without spending their savings on other …show more content…
Community colleges are extremely affordable compared to major universities. Today, most college grads are “working at jobs that don’t require a college degree” (Steinberg 2). This paired with the fact that the same level of undergraduate studies may be completed at community colleges makes attending community colleges that much more appealing. This is a common route for most students; in fact, “61% of new students at Harvard Law School last year had received their Bachelor’s Degree outside the Ivy League” (Steinberg 3). The only negative to this solution is that you don't attend your desired University for all four years. However, the money you save will be more than enough
Martin and Lehren’s article “A Generation Hounded by the Soaring Cost of College” addresses the issue faced by current and former college students dealing with large amounts of debt 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 of high amounts of student loans students have had. The article gives a very hard reality check to anyone reading as to how bad the problem of student debt is.
In comparison to a 4-year university a 2-year community college is much more affordable option. Even if a student ultimately transfers to a university, those first two years at a community college can still save a student ten-of-thousands, and some cases hundreds-of-thousands, of dollars, “In 2011-2012, after accounting for grant aid from all sources, net tuition and fees… at public two-year public colleges was effectively zero for students from the two lowest income quartiles.”(Jenkins). Along with saving students money overall, community colleges allow students to work while going to school, so it gives students the pros of both not going to college, and going to college. The one downside of community college is the lack of degree options, but there is still a large selection of degrees that can be acquired at community college, just not as many as a 4-year university. When comparing all three of these options, the community college option seems like the only option where the pros heavily outweigh the cons while with the other options, the cons can easily overpower the
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.
Everyone knows that going to college and getting a degree is the most effective and guaranteed route to ensure a prosperous financial future, right? College is considered by most to be the best investment you can make in life, but what happens when that investment leaves you drowning in thousands of dollars in debt right after graduation day. This is the situation that millions of college graduates are faced with in 2016. Rising college tuition perpetuates student debt and is on a sharp incline and it seems to have no ambition of ever slowing down. The effect of this catastrophe is felt by millions of families across the country who now question, “is college really worth it?”
Having the college experience is everyone’s dream, especially High School students who are ready to get out into the world and explore. College is very important for furthering someone’s career, but no one thinks about all the costs and the stress that comes along with college. Tuition fees and costs are increasing more and more each year. Now days it feels like you have to be a millionaire just to attend a good college and get a good degree in what you were attending for. There are some students that do not have a lot of money and live on very little things with their parents, but indeed are very smart and have a 4.0 GPA. Those students are the ones that are unable to attend college if they cannot afford it. College tuition is too expensive,
An education is one of the most important tools a person can acquire. It gives them the skills and abilities to obtain a job, earn a wage, and then use that wage to better their lives and the lives of their loved ones. However, due to the seemingly exponential increase in the costs of obtaining a college degree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. Without question, the increasing national student loan debt is one of the most pressing economic issues the United States is dealing with, as students who are debt ridden are not able to consume and invest in the economy. Therefore, many politicians and students are calling on the government to forgive their student loan debts so that through their spending the slowly recovering economy can finally return to its pre-2008 strength.
With tuition rising every year, students face the challenge paying the debt achieving a college degree comes with. “Student debt surpassed credit-card debt in June 2010 for the first time in history, rising to about $830 billion — or nearly 6 percent of the nation 's annual economic output”(Clemmitt, Marcia). Not everyone has a ton of money just laying around. Being that financial trouble is the biggest problem for students, they begin to question whether college is worth it or not. In recent years, students have taken out loans to help with expenses. Most students choose to attend a community and junior college to help minimize the debt. Even after graduating with a degree, students still face the struggle of finding a job in this economic time. For higher class families this may not be a problem to them. But for the middle class and low income families, they face tougher times being that they don 't have the financial help like higher class families do. For the middle class and low income families, it makes more sense attending a community and junior college rather than a four year university.
If they are smart with their money and follow the correct choices, this shouldn’t be a problem for them. If you make the sacrifice and effort right now, you’ll keep yourself from digging a hole you’ll have to start climbing out of the moment you receive your college degree. (Ramsey 107). If you know ways to start saving money for college, don’t be afraid to start. Just because it’s easy to sign those student loan notes doesn’t mean it’s the only way.
Recent research has shown that even if students work full-time they still need financial aid to pay for tuition and books (Carnevale, Smith, & Melton, 2015). Therefore, students’ will sacrifice studying and class time and still have a great deal of debt when they graduate. Unfortunately, these students do not have any other options. They are working out of necessity. For these students to be successful they would need to have career counseling from the college of university. They would also need financial resources that help students pay for college expenses from the state. Colleges and universities could also create programs to assist with finding a job after college. Low-income students are faced with the problem of working too much which can create a cycle that pushes students further into debt without the benefits of a career that they were trying to
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
Today students do not have the money for their tuition. Tuition goes up every year. Also the fees such as student or orientation fees went up as well. Students shouldn’t be in debt for their education. Students should be able to have a good education so they coul...
With the ever-increasing tuition and ever-tighten federal student aid, the number of students relying on student loan to fund a college education hits a historical peak. According to a survey conducted by an independent and nonprofit organization, two-thirds of college seniors graduated with loans in 2010, and each of them carried an average of $25,250 in debt. (Reed et. al., par. 2). My research question will focus on the profound effect of education debt on American college graduates’ lives, and my thesis statement will concentrate on the view that the education policymakers should improve financial aid programs and minimize the risks and adverse consequences of student loan borrowing.
This is only taking into account the savings from people that graduate from high school. Not to mention there are also huge financial gains by paying people to get good grades. High school and college graduates are more likely to contribute to the national GDP and less likely to rely on social welfare programs. These savings are fantastic.
For most young Americans, college has always been preached to them as being a vital part to their success in the adult world; but as they reach this educative rite of passage many find they must take out inflated loans, work part time jobs, or even become dissuaded entirely due to the exorbitant costs of higher education. We must forsake this current antiquated system in favor of government subsidized tuition. Therefore, college education must be free because of its benefit to the economy, creation of equal opportunity, and the resolution of the student loan crisis.
It has been debated for years on whether getting a job while in high school is valuable for teenagers or detrimental. Students should be compelled to earn and use their own money to become