What is there to study? What are my passions? Should I go to college? I’m I going to college just because my friends are doing it? These are nail-biting questions millions of adults and young adults must ask themselves on a daily basis. It seems like the most ideal subject matter for many high school seniors, who are finally going to take a big spoonful of the real world, only to realize that nowadays going off to college is awfully bitter and gut wrenching if they are not receiving any type of financial assistance. Going off to college, for undergraduates to graduate students alike, sounds like the most important investment that they must demand of their life. They preach about it everywhere, one starts making appointments with school representatives, …show more content…
Going to college should be a top priority for every law abiding citizen, however, that college tuition starts seeming overwhelming. Reality check, going off to college and making it possible in investing on one’s education is vital, but it is really tough to make it out of there without owing an arm and a leg. As a result, millions of people across America are dragged down by that huge rainy could that society calls student debt. Consequently, many factors are taken into consideration when debating student debt. Student debt ranges from students in undergraduate school to graduate students. One of the most important contributions of rising student debt issues across America is the infamous rise of college tuition. Obviously, the rise of tuition is probably the main factor for student debt, but it has completely been ridiculous these past couple of decades. Really, it is astonishing and scary to seeing the increase of college tuition that has risen in the past couple of decades. According to economists from the Christian Science Monitor, “four year public college tuition has risen …show more content…
Moreover, graduate students are more prone to face external problems such as mid-life crisis, have anxiety, and confront insecurity problems, such as failure, since they are older and time is ticking. Also, most of them are at a critical stage in their life where they decide to start a family, which is a bit overwhelming and brings even more stress to their lives. To compound the issue, they do not get as much help from their parents because, again, tuition is highly costly and the graduate programs involuntarily make their students get loans. According to Time Magazine, “graduate students make up fourteen percent of university enrollment, but they account for over forty percent of the national student debt” (Marcus). Adding to this, it is common to see students graduating from a graduate program coming out of there with over one hundred thousand dollars in debt. It is also very ubiquitous to see them coming out of there and not even landing a job in their respective field of study, which adds even more stress since they are not putting their degree into play. They settle for jobs that pay a little over minimum wage only because they have to start paying off their student loans within six months from graduation. Since students entering a graduate program are less naïve and less gullible than under grad students, it does not attract attention from
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.
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.
In recent years, there has been a tremendous increase in student enrollment in higher education after high school effecting the need for financial aid for all students. Education has become a growing part in America where more students want to better their lives with a college education. However, the cost of college tuition has increased and more students find themselves struggling to pay off the enormous tuition rates. In a recent study by the Consumer Financial Protection Bureau, student debt has reached $1 trillion in federal loan debt. Student loan debt has crippled the economy and students are struggling to pay off federal loans. In order to help students with the high tuition rates of college the government and universities offer
According to Steven Goodman, in his article Why College Tuition Should Be Regulated, “two-thirds of American undergraduates are in debt” (Why 1), which is ridiculous considering the fact that they have not graduated yet. Even though he said that in 2011, it is very aware that it will continuously go up if no one puts a stop to it. Students even take out loans because their financial aid cannot cover up for their
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.
For the past decade, The United States has stressed the importance of college education, to those seeking employment, and better careers. For most people, college is the logical next step in education, as it provides a working knowledge of a desired field and opens the door to many opportunities, but college has become increasingly more expensive as time goes on. Many people feel that college is no longer an option financially. Even with financial aid and scholarships, the cost of a college education can still be very taxing. This is due to massive price increase across the boards, but the main issue on most people’s minds is the debt that will be acquired from higher education.
The cost of college tuition continues to increase each year. If this keeps increasing the way it has been, students will be indebted the rest of their life. Author of “The Looming Student Loan Crisis”, Jackson Toby states that student loans have increased along with the increase of tuition costs. In 2004, the average unpaid student debt was approximately $18,650...
As students near the end of the academic year, they are constantly faced with some of the same choices the generations before them have been presented with too. The biggest question a lot of seniors in high school have to answer is if they are going to be attending college or not. There are a lot of legitimate reasons as to why a person might not attend a college, but I personally feel like everybody should have a higher education if they have the opportunity to do so. One of the biggest reasons that people do not have the opportunity to pursue higher levels of school is the fact that they do not have enough money to pay for it. With the staggering amount of debt, the majority of students incur in college, it is becoming a
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.
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
In an article written by Andrew Lehren, the author provides the bold statement that “the only thing worse than graduating with lots of debt is not going to college at all” (Lehren). In today 's society, many families lack the funds to provide a full ride for their children in terms of college. Due to this fact, many people turn to alternate solutions such as loans or diving straight into the workforce instead of attending college at all. These solutions, however, may greatly affect a person throughout the course of their life. The problem of college debt is increasing rates in regards to tuition, however, fortunately there are various solutions accessible in order to decrease or eliminate the debt that many american students face.
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.
The government is literally telling students that regardless of the variability of their income – or if they even have one at all – that they must pay back their loans. Now, how exactly is a student supposed to pay the government back when they may not even have a job? Why should students be punished for being unemployed because the economy might be experiencing a recession? The government’s predatory-like approach to having students repay their debts is asinine to say the least. The government should be trying to alleviate the problem instead of merely blaming it on students.
In that year, the number of college graduates was only 432,058 (Sourmaidis) and ever since the demand continually increased as did price. This trend allowed for the student loan crisis to occur, which is a problem we face today. As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements).