Essay On Student Debt

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Student Loan Debt According to US news, “the average bachelor’s degree holder takes 21 years to pay off their student loans.” The authors of “The Student Loan Crisis” are persuading the readers to not be afraid of student loans. I strongly agree with the article “Here’s Your Crisis: Student Loan Debt Isn’t a Myth” because they give very compelling evidence that student loans are a very big deal. The total student debt is over $1 trillion now according to the Consumer Finance Protection Bureau. College is a risky investment, but it can be also be a good investment. According to Nicole Allen and Derek Thompson, “1 and 6 students at a four year college who were eligible for student loans were using them for the right purpose.” Low- income families are scared of the cost of college and tend to overestimate it. Students that are from these families cost more money if they do not go to college. (Nicole Allen and Derek Thompson). The average debt of a college graduate with loans is over $30,000. Struggling in this economy and with high tuitions, students have been in debt with their student loans, and this has led to various proposals for justifying debt. According to an Associated Press analysis, “53 percent of recent college graduates are not putting their degree to good use.” According to Trans Union, “federal …show more content…

According to the Department of Education, “the student loan default rate is 10 percent, which is the highest it has been in over sixteen years.” College tuition rates have tripled over the last thirty years, and the cost of higher education makes financial assistance a requirement for those looking get a degree. Recent graduates have trouble finding jobs, and this makes it hard for the students to pay back their loans. Student loan debt can hurt the national economy because people with loans put off buying new houses and cars. (Is the Student Loan Crisis a

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