When starting college every student must make a very important decision. Whether if they want to get financial aid or to pay the money up front. Having college debt will not only ruin their credit, but he or she may also have to pay off their tuition for the rest of their life. Research says, “According to the College Board, which tracks students’ financing of higher education, undergraduate students in 2013 through 2014 borrowed in the aggregate nearly $63 billion and received $33.7 billion in Pell grants.” By this quote from “Debt, Merit, and Equity in Higher Education Access” it clearly shows the effects College Debt has on their society, but also on their educational future. Every paycheck they receive, a small portion goes toward paying …show more content…
It also states that they don’t use that money for its intended purpose. Many students who have gone to college have said that, that money they receive from grants that they don’t use it for school purposes, but for their personal purposes. Furthermore, from the text “The Debt That Won’t Go Away” it states that student’s in the 2000’s had more debt than today’s generation. “In 2009, the most recent data available, 67 percent of graduates had debt, averaging $24,000 per student, up six percent from the previous year.” It’s not pleasing to pay for something that could have been free to all. A very special person comes to mind. A 2nd-grade elementary school teacher always dreamed of going to school and being a successful teacher. However, she didn’t have enough money to pay for everything, so she had to get College Loans. Until this day she is currently paying them off and working full-time as a teacher and a mom. She told others many times to not get College Loans because then they’ll have problems about being short on money. “Look at me, I am 30 with three kids and I’m still paying it off.” Not only did she encourage others to become independent but also to pay it off the first time if they have enough
The teachers interviewed in this film discussed that once students begin looking into the hefty cost that comes with college they become quite discouraged because they are not aware of ways to get some of the cost eliminated such as qualifying for FAFSA, application wavers and multiple scholarships they could apply for. Not only is the financial aspect intimidating, but these students do not understand how much profit they could potentially make off of a student loan. Not only can these students make more money and benefit from a possible loan along with avoiding some financial struggles, they can also work to benefit their futures. For example, Soma, discusses that before his father passed away his father encouraged him to get a college degree, with that being said, if these students were to attain a college degree they could help their families In the future, live with a sense of accomplishment and break the cycle of low socioeconomic status, allowing them to thrive in their future. With the lack of knowledge first generation students possess, they are typically unable to see the benefits they would have if they attended a college and attained a
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
Students are constantly spending money over the course of four years or longer, on so many things from tuition, to dorm rooms, textbooks, and the basic needs like food and water. Many college students are coming straight out of high school. Some of them had jobs, and others did not. If I knew that I had to spend so much money, on everything, right away. I would’ve started working when I was five. Fortunately, I have parents who pay for my tuition, and help me pay for textbooks, and other things I need. But some people don’t have parents who can support their college education, or if they have paid, the cost might build up, and they can no longer afford to pay for school. So they have to withdraw or dropout. This also goes with a small part as to why I believe that college dropout rates are high, like I said, it gets too expensive for people that they can no longer attend college, without going into major debt. Gutting also talks about how, college students get these unrealistic ideas of what college life is from movies, and television shows, making it look like a dream place to go. Don’t get me wrong college can be an amazing time and place to experience new things, but the over exaggeration from the movies and
Mark Kantrowitz indicates in his article, Why the Student Loan Crisis Is Even Worse Than People Think, that “Student loan debt is increasing because government grants and support for postsecondary education have failed to keep pace with increases in college costs”(Why 1). This means that the government no longer covers for college tuition fees. College graduates are 20% more likely to work at a job that is outside of their major by the debt they are in. Kantrowitz also mentions that “students who borrow to attend college, it appears that more than a quarter (27.2%) of them are graduating with excessive debt” (Why 1). In reality, leads to student saying that the financial cost was worthless, ending up with a job that is especially not what they went to school
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?”
Once a person graduates from high school they are left with a difficult decision, wither to go to college or not. Some families this is not an option, their kid will go no matter what, but many students do not want to go to school and have so much student debt by the time they finish that they will have to pay off that they decide that college is not worth it. According to Craig Smith in his article in Education Digest he says, “too many families cannot afford to send their children to college so the student is left with making the decision on wither to go to college and collect debt or just skip college altogether” (Smith 42). He has a good point. Too many students feel like they have to pay so much yet they are not really getting much out of it. Smith later on in his article states, “We must stop balancing our state and institutional budgets on the backs of students and families” (Smith 46). School should not be all about money, it should be about helping the students get the education that they need so they can make it out in the big world. If a student is so worried about how they are going to pay their school bill they are not going to be focusing on their class work and it ...
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
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
Most people today accept the debt that comes from college. Students consider student loan debt as a “good debt.” They see other students make this mistake but follow their path anyway. Nearly 80% of college-bound students have not projected the total amount of money they will need to graduate college.
When thinking about college the same fear is established in just about every student’s mind. How am I going to pay for college? With an increase in college tuition in the past ten years, that question has become more frequent. Whether it is a private or public institution, the price is still no pocket change and how to pay for it has become harder and harder to accomplish. In today’s society, the average person can not get as far as they’d hope without a college education. With that accomplishment of receiving a college education, comes the dreaded loans that some students have and pass on to their children.
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
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.
Those who think a college education is not worth it believe that college can become a setback in life due to the thousands of dollars that college students are spending on tuition and books. Students who attend college will not have the money to purchase a home, spend money on family, vacations, or any other costly items and bills. On the other hand, most college students end up paying for their college loans all of their life or go into debt. They will never have money to rely on since their credit cards will be racking up interest for college loans that need to be paid off. As stated by Paul Taylor in Michelle Adam’s report, the cost of a college education has been at a record level and the cost of tuition and fees has more than tripled which is causing a rise in student debt (58). With rising prices, the economy is making it more difficult for people to afford a college education.
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...
Over the years, society has changed. During the old times, a high school diploma was sufficient. Acquiring a high school diploma was an achievement that families used to brag about when their children received it. In Lebanon, most children used to complete school up to ninth grade where they would receive their Brevet certificate and then drop out of school believing that the Brevet certificate was enough to provide them with a job. However, nowadays the minimum requirement of any regular job such as a bank clerk or an office boy requires a college degree. In fact, with the progression of time and deterioration of the economy, the only guarantee of acquiring a job is having a Masters degree. How are students expected to obtain such a degree with such a bad economy and high college tuition fees? The American University of Beirut recently decided to raise tuition fees by six percent. The students as expected responded with a strike and boycotted their classes. A strike is necessary to demonstrate that students will not remain neutral to further tuition increases, for “education is a r...