Student Debt Essay

750 Words2 Pages

With college being a social norm and being looked at as the path or key to success, many who walk down that path, face financial nightmares. Most students face the struggles of paying for tuition, text books, food, housing, commute, etc. For this reason, a lot of students have no choice but to take out student loans in order to continue their studies and get a college degree, in hopes for a better future. To get a sense of how many people are struggling financially due to student loans and debt, the United States has an accumulated total of approximately, 1.4 trillion dollars in student loan debt. The vast amount of student debt has created many barriers in many people’s lives, which is why the government should make it easier for individuals …show more content…

According to Jessica Dickler from CNBC, numerous college graduates are suffering from extreme stress due to their student debt and many are prevented from starting new chapters of their lives. Not only are student loan borrowers hindered from purchasing luxuries, such as a new car or a house, but they are also hindered from marriage or having children. Graduates are not the only one affected by student loan debt, those who decided to go to college and take out loans then dropped out, are affected from debt too. Earlier this month, the U.S. News reported that there are 3.9 million college dropouts who are undergoing student debt. Most in fact, went to for-profit colleges before they dropped out. Many would think that dropping out of college would also drop any student debt one had, but unfortunately, that’s not the …show more content…

In the United States, there are only a few ways to get loan forgiveness, including: becoming a teacher, joining the military, getting a government job, death, etc. Getting loan forgiveness is not easy. How many people in the working world come out of college and choose one of those professions? Not many. Becoming a teacher may sound like an easy way out of student loan debt, but think again. According to Emily Atteberry from USA TODAY, the only way out of student loan debt when becoming a teacher is getting a low-income teaching job for at least five years straight. In brief, student loan debt could last a lifetime because people generally don’t get loan forgiveness until after

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