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Yes, college can be a burden for someone. A college graduate can have plenty of debt by the time that they finish college. But realistically, a college graduate only went to college to be successful. To follow their dreams, to become financially reinforced. If a college graduate follows through with their dreams, their passions, then small amounts of debt shouldn’t be a problem even with starting salaries. If the adult at hand is passionate, ambitious, emotionally connected to their major and/or minor, then paying off a median amount of 30,000 dollars in debt should be only a pebble of an obstacle in their way.
Tuition, this is often the reason that people have regrets in their decision to go to college. Some might say, “what if by the time
One statistic that Owen and Sawhill presented was “Hamilton Project research shows that 23- to 25-year-olds with bachelor’s degrees make $12,000 more than high school graduates but by age 50, the gap has grown to $46,500 (Figure 1). When we look at lifetime earnings—the sum of earnings over a career—the total premium is $570,000 for a bachelor’s degree and $170,000 for an associate’s degree. (Owen, Sawhill pg 641). Owen and Sawhill also mention that “with tuitions rising faster than family incomes, the typical college student is now more dependent than in the past on loans, creating serious risks for the individual student and perhaps for the system as a whole, should widespread defaults occur in the future. Federal student loans now total close to $1 trillion, larger than credit card debt or auto loans and second only to mortgage debt on household balance sheets” (Owen, Sawhill pg 642). Basically, what the authors are saying is college is expensive, but for some career paths, the training and education received in college is necessary to have that job and the benefits outweigh the costs. With a high paying career where a college education is necessary, paying off student loans is no problem. On the other hand, people who go after low paying careers that don’t necessarily need a college degrees,
Even though choosing to go to college is something that takes a lot of thought, there’s still the idea of how to pay for it. That topic is touched by Robin Wilson in his article, “A Lifetime Of Student Debt? Not Likely.” In his article he talks about how taking out student loans isn’t as bad as it sounds. He argues that taking out student loans is something that you won’t notice in the future, they’ll just be like other bills that need to be paid. Most people who do have student loans, are still able to live a comfortable life, not scrabbling like most would
Wilson states that for the 65 percent of students that graduate with debt, the average amount owed is a staggering $20,000.00. On the contrary, as many as a third of all college students will graduate with no debt at all. Some may think that $20k is an outrageous amount of debt. But if you consider what the average adult spends on their first new car, it puts things into perspective. A new 2016 Nissan Rogue SUV for $20k could be paid off in an average of 4-5 years. This is where one would argue about what
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
The debate on whether college athletes should be paid to play is a sensitive controversy, with strong support on both sides. College athletics have been around for a long time and always been worth a good amount of money. This billion dollar industry continues to grow in popularity and net worth, while they continue to see more and more money come in. The student-athletes who they are making the money off of see absolutely none of this income. It is time that the student-athletes start to see some of this income he or she may by helping bring the National Collegiate Athletic Association. There are many people who do not think this is in the best interest of the student-athletes or Universities, but that being said there are also many people who are in favor of the change.
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 ...
Money, Money and more Money. Let’s admit, it 's all we think about and it 's also vital to our survival. When we hear the word "college" the first thing that pops into most people’s minds is money and debt. Of course college means money, but it really means money on both sides. You pay people money so you can get more money later. Sounds
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,
The debt associated with higher education is one of the biggest factors of deterrence for most people who are interested in college, and it is not at all surprising. 71 % of college seniors who graduated last year had student loan debt, and the average debt for a college student with a four-year degree is $29,400.This number has gone up an average of 6 % each year. Keep in mind that this is just the average debt, and there are students who are in debt upwards of $30,000 dollars (projectonstudentdebt.org). Now in order to understand why the debt is so high it is best to break down the different costs of higher education. The first and most important of which is tuition.
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.
College athletes should be paid because of the hard work, dedication and effort they put into their respective sports. These athletes are a major source of income for their schools and they are not receiving a penny for it. These college athletes deserved to be paid, colleges are using these athletes to get money and they are never given anything but a pat on the back and a good job. College athletes work and train extremely hard to perform at the highest level possible. In most cases, they spend more time training and preparing for their sport than they actually do learning and studying. They put so much on the line to play and they get nothing in return. These college athletes literally make their schools millions of dollars every single year off of things like ticket sales and selling player merchandise. They can use these athletes for anything they want to while they are still enrolled in their sports program and that athlete is not allowed to accept any form of payment for what he contributed to that particular program and are given crazy looks when they even ask for it. Sports are an enormous source of income for many different colleges around the country and help keep these colleges afloat. Sports generate millions every single year, but where is all this money going if it is not going toward paying these athletes?
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
When a student gets out of college the game plan is supposed to be, get a job in the field that you went to school for and make money so you can start your life. That particular situation is rare considering not all students get a job fresh out of college. For the students that don’t, they have to go back home and settle for a regular job and start paying off their giant student loans and put their life on hold. Even with having the job they wanted the student loans come right around the corner. After college is when the student’s life is supposed to start and the part where you get a car payment, pay rent, utilities, but none of that is possible when you add the enormous amount of money that the student will be in debt by. With the amount the students have to pay fresh out of college, more students are sacrificing more time struggling to pay off the student loans then they spent in school. Student loans are set-up in a way to be flawed and not always completely necessary to the student.
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.