In recent years, most of young people hope to go to college as a result of college education provides students with easy access to knowledge; knowledge encourages them to contribute to the advancement. The United States is now facing a huge problem as a large number of college-graduated students hold loans that they are unable to pay back. Whether students should be paying the loans themselves or the government should forgive all student loans has always been a controversial issue in today’s society. Even though some people argue that students must be responsible to pay the education loans, I believe that the local government should be obligated to forgive student loans and support higher education for its citizens. Forgiving the loans will …show more content…
not only help students who come from low-income family pay for tuition fees and living expenses, but also motivate them to study harder instead of working a lot to earn money, and reduce the pressure they faced after graduation. There is no doubt that forgiving student’s’ loans will be beneficial for low-income family students to pay for high tuition fee.
In other words, they could go to college for better education. The cost of higher education is substantially growing in the recent years, which include both state universities and private universities. Due to a rapid increase in tuition fees, some young students drop out of college because they are not able to find a job to pay off their loans after graduation. However, it is difficult to accept those high tuition fees for low-income families. Most of low-income families have more than two children, which cause a financial burden for the families. In the article “Higher Education’s Coming Crisis” Robert Zaller states that “President Obama has fired a shot across the bows of higher education in warning that if college costs continue to go up, government subvention will go down.” which means if college do not cut tuition fees, more students cannot go to college. Even if some students who graduate from high school would prefer to make money early rather than achieve a college degree. The loan to students could effectively be solved the tuition fee issue, which could contribute to completing their college education first and then paying the cost after
graduation. In addition, forgiving the loans could encourage college students to spend more time on studying harder instead of working a lot during their college life. In fact, students have a lot of school works to do, such as group projects, quizzes, and exams. For example, in the article “Forgive Student Loans?”, Richard Vedder stated, “The typical college student spends less than 30 hours a week, 32 weeks a year…They spend about half as much time on school as their parents spend working.” Richard Vedder’s research shows that college students do not have enough time to study because they are preoccupied with work and hold heavy loans. Moreover, majority of college students go to class later than regular class time, and also they do not finish homework on time. One of my classmates always came to class later than 20 minutes, and she completed her homework assignments one hour before deadline. She told me that since she got married earlier, she had a part-time job outside campus. She only needs to take good care of her child and her family but also she needs to repay the loans as well. This is a normal phenomenon in American campus; students are busy in work and study. Setting student loans forgiveness programs could give those students more time on studying and spending time with their family. Without loans, college students can reduce their pressure after they graduate from college. Student loans became a huge problem to young people struggle to pay it back due to their limited incomes. Because college students have a lack of work experience and qualifications, they could not find a good job or an ideal job after graduation. In the past, most jobs required basically similar skills and simple knowledge. But now, the job markets need workers in almost all fields. Even students got a professional job in one day, they still got low wages. If students borrow money from the bank during their study life, they must pay the loan back. No matter how low interest rate would be, students will pay more than the initial amount of the loan in end of date. All in all, the governments should forgive loans so that those young people will make their life easier and they may use that money to pay their living expenses like housing rent and car insurance. Although the benefits of forgiving student loans would quickly solve the high tuition issue for students, some people believe that students should be responsible for paying the loans by themselves in the future. Attending college is a personal choice, which is not an essential requirement for everyone. Once government forgive student’s loan without charging, students could not fully realize the difficulty of making money and the sense of responsibility. However, if government does not support those students who cannot afford the high tuition fee, it may break the balance of society between college education people and non-college education level. Students who have a college education could get a good job after graduation while students who do not have college education may not get a high-income job. Meanwhile, students who have better education could service for the society. Students who have a chance to study in the college will accumulate multiple skills and increase responsibilities before they step into society. Government funding for education is of great benefit to families with children and the society as a whole. Government should forgive student’s debt or provide some scholarships for those low income family students to maintain the balance and equality in public education. Obviously, forgiving student loans is a necessary method for most college students. It is not only helps low-income family students to pay high tuition fee so as to support their higher education that is required in future career, but also giving students more time on study in college and reduce professional job pressure after graduation to repay the loans. Indeed, although loan is important for students to get a high education degree and students need to repay the loans after their graduation, the government still should be responsible for forgiving loans in order to give convenience for students to get a good quality of life.
In the argument, Debate on Student Loan Debt Doesn’t Go Far Enough, author Robert Applebaum, graduate of Fodham University School of Law, asserts that excessive student loan debt should be forgiven after a reasonable repayment period and suggests this would stimulate the economy because former students would have more money to spend(Debate). He backs up this claim by introducing the Student Loan Forgiveness Act of 2012, contending that education should be a right that people of all classes can benefit from, and addressing both the individual and the economic drawbacks of student debt in the middle and working classes(Debate). Applebaum
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.
"Parents with incomes below $40,000 were much more likely to say they couldn 't afford college compared to those with higher incomes. The unsettling aspect of this poll is that in all likelihood, these parents ' perceptions mirror reality," says Tamara Draut, author of "Strapped”. She talks about how most middle class families can 't afford to put their children into college. The highest education they can get is a high school diploma, which we all know in this modern world it cant get you a lucrative job to maintain your whole life. Most American don 't get the chance to develop their full capabilities through higher schooling due to lack of resources like funds to enable them see their full potential. People will say that education is meant for people who can afford to go. And already the government has made schooling from pre-k to high school free for all public school, so making community colleges free will cost the state about 60 billion dollars as said by the white house spokesman Eric Schultz . Education must not be limited to only privilege people,it should be universal for anybody willing to educate themselves to make their life better and help grow Americas economy reducing
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
Tuition and fees has extremely risen over the past years which makes it extremely difficult for both social economic groups to invest in a higher education for their families. Today’s college students borrow and accumulate more debt than previous years (The White House). For instance, “In 2010, graduates that borrowed money graduated with owing an average of more than $26,000”(The White House). As a result, President Obama has expanded federal support to help more families and students to afford higher education (The White House). Also, he believes that it is a shared responsibility of the federal government, states, colleges, and universities for making higher education
Should student debt be forgiven? This question has been asked more and more throughout the years. There have been plans created to forgive student debt, and it has even been written about in popular magazines. For instance, a proposal has been made by Appleman to why student debts should be forgiven. In the short essay, “Is Forgiving Student Loan Debt a Good Idea?” by Kayla Webley, she illustrates that student debt is a problem, despite the political and economic flaws in Applebaum’s proposal.
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.
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
Does the amount of student loan debt have an effect on the economy? If so would forgiving student loan debt help lower the national debt or would it just increase it? According to Mary Claire Fischer, a writer for Kiplinger’s Personal Finance magazine, “two-thirds of students who receive bachelor’s degrees leave college with an average debt of twenty-six thousand dollars” (Fischer). This means that the average student debt has doubled since 2007 (Ross 24). The total student loan debt is $1.2 trillion with $1 trillion being from federal student loans (Denhart). This debt accounts for six percent of our nation’s $16.7 trillion debt (Denhart). Since student loan debt is such a big part of the national debt, if the student defaults on their loan then the United States tax payer has to carry the burden of the loan (Denhart). Students who are graduating with debt do have a couple of different options that they can choose from. There is a six month grace period after graduation to allow the student time to find a job and programs to try to help eliminate debt. “The Consumer Financial Protection Bureau estimates that one-fourth of the American workforce may be eligible for repayment or loan forgiveness programs” (Atteberry n.p.). The problem with these programs however, is that they are hard to get into and stick with.
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
Increasing college costs has proven to be a major issue for those who pursue higher learning. With institutions raising tuition and fees, students are forced to make life-altering sacrifices to repay soaring student loans. We have come to a pivotal place in history, where individuals have no choice but to minimize or delay important life decision’s such as moving home with their parents to save money, becoming home owners, retirement saving and forfeiting higher education. The impact of increasing college costs has become so severe that it is at the forefront of politicians, political agenda, inducing conversation and policies like the revised income-driven repayment program. The program proposed to help combat the effects of massive student loans.
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.
I have heard many people suggest total student loan forgiveness. Of course, this sounds like a very easy way out especially because supporters of such a move have a clear illustration on how loan forgiveness will not impact the economy. I on the other hand beg to differ. I think that cancelling all student debt without any sort of payout to the creditors will result in economic catastrophe. Perhaps, it will even trigger another recession.
The first and probably the biggest barrier that fogs a student’s pathway to post-secondary education is the financial standpoint of it. Attending a college will require financial aid, funding, and/or working while attending classes. Different states attain different approaches to help students receive financial aid from that college. Many students may feel as if they aren’t able to attain college because they aren’t able to budget the money for tuition or do not think they are eligible for financial aid. “Clearly, along with the high stress levels that comes with the realization that in tough times, affording college is no given and there are things that trump fancy windshield stickers from brand-name colleges” (Applebome 7). Another problem with education is that if a student is not personally paying for their tuition they tend to not take their classes as seriously and that could cause their parents to budget more money than they already have had or make their kids liable to pay the tuition in the future in they do not pass their classes. However, a study shows that that students in receipt of financial support report that it has enabled them to stay on course and that they consider withdrawing less than their peers (HEFCE and OFFA by ARC Network).
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...