Imagine being roughly $37,000 in debt while being thrown out into the “real” world (Laboissiere). This just happens to be the reality for almost every average college student in the US faces. Many people have noticed this problem and now they are throwing out many solutions. What if we gave students a chance to graduate college without worrying about their debt but being able to do this without just handing out free college. Not only will this make it easier and less stressful for students to further their education, but it will make the work environment in America stronger by making kids work for their education.Many solutions to this problem are being looked at like letting kids make payments based on income, allowing kids to “work away” …show more content…
their debt, making it quicker to graduate, making more college classes available outside the classroom, and many more ideas. College is a stressful process especially for new adults, but what if we made it less stressful by making it more affordable by allowing kids to basically work away their debt.
President Trump has recently thrown out the idea of making a repayment plan that allows graduates to cap their monthly student loan payments based on their income and then have their student loans forgiven after so much time (Laboissiere). By doing this we know that the graduates are using their education and we would be “rewarding” them by cancelling the rest of their loans. You would not just be giving away a college education but you would be making the student earn their way out of debt and also learn a valuable lesson about having a good work ethic. Also Trump would like the universities with larger endorsements to spend more of their endorsements on students fees like tuition, housing, and other fees, hoping to lower some of the tuition costs (Laboissiere). This way students are paying for their education rather than all the extra stuff they shouldn’t have to worry …show more content…
about. In addition to letting students make payments based on their income, the education system is looking into the different ways to make the process of getting through college and getting a degree or certificate quicker. By pushing kids to complete as much as they can, as fast as they can, we can lower the cost. Students pay fees for every semester they spend at the university. If a student can complete a degree in 1 year instead of 2 then they can cut their debt in half while still getting the same education. We could make this process easier by letting students expand their knowledge outside of the classroom. Students can take online classes in free time that are not only cheaper but more convenient. Also to make it quicker to receive a degree universities can cut out the unnecessary courses. Many students find out that they are spending hours of their time and spending tons of money on classes they don’t even need for their diploma or certificate. This is a waste for both students and the universities. By pushing kids to get college done faster and doing classes online we can make college more affordable, but what if we made it so students could “work away” their debt by giving back to the community or university.
Universities have recently started allowing students to volunteer for nonprofit groups and as a payment or reward they can receive lower college expenses or even free college. This is letting the students decide if they want to work for their education and walk out without or little debt. By doing this we are giving students a learning experience on how you can earn what you want rather than letting them pay their way through college. Colleges that have tried this solution have noticed a great amount of success (Laboissiere). Students are taking the opportunity serious and tend to take their education more serious, since they already “worked” for
it. We can make it less stressful for students to further their education. This will make kids work ethics better and also better the workplace in America. We can solve this problem with one of the many solutions like letting kids make payments based on income, allowing kids to “work away” their debt, making it quicker to graduate, making more college classes available outside the classroom, and many more ideas.
The second chapter of this book advocates students to attend college, even if they must take on a moderate amount of student loan debt. They give statistics showing the tremendous gap in wages between a college graduate and a non-college graduate. The third chapter of this book argues the opposite viewpoint of the second chapter. The author states that the cost of college today is too high and that there are too many college graduates flooding the job market causing many of them to go unemployed or seek low level jobs that do not pay enough to pay off their student loans. Both of these chapters will help me to show the two main ...
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
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 ...
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.
Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans. Many students expect to immediately get a job after graduation, however, in more recent years the chances for college graduates to get a well paying job isn’t nearly as high as it used to be. Because students can no longer depend on getting a job fresh out of college, it has become harder to repay the loans. Without a steady income, these individuals have gone into debt and frequently default loans. If nothing is done to stop colleges and universities from increasing the cost of attending their school, the amount of time it takes for students to pay off their loans will become longer and longer. The extreme expenses to attend a college or university may leave a student in financial distress: which may ultimately lead to hardship in creating a living for them and affect the country’s economy.
Employers consider a degree necessary for getting a job at their company. However, not many people can afford college. The solution is to take out loans, then college becomes affordable. These loans create a whole different issue, student loan debt. This can affect people their whole lifetime and has been happening for years upon years. But, in the more recent years America is starting to shed more light onto the issue and are becoming curious on why colleges charge twenty five thousand dollars, or more, for a year of education. Many different countries offer free college, but in America student loan debt keeps getting worse.
Student loan debt makes up a large portion of the debt in this country today. Many defaulted loans are the demise of high interest rates, poor resources to students in educating them on other avenues and corruption in the governmental departments that oversee education and financing. There are many contributing factors that lead to the inability to pay off student loans which need government reform to protect the borrower’s best interests.
Recent research has shown that even if students work full-time they still need financial aid to pay for tuition and books (Carnevale, Smith, & Melton, 2015). Therefore, students’ will sacrifice studying and class time and still have a great deal of debt when they graduate. Unfortunately, these students do not have any other options. They are working out of necessity. For these students to be successful they would need to have career counseling from the college of university. They would also need financial resources that help students pay for college expenses from the state. Colleges and universities could also create programs to assist with finding a job after college. Low-income students are faced with the problem of working too much which can create a cycle that pushes students further into debt without the benefits of a career that they were trying to
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.
So what do we do about these soaring prices of higher education? We can start from a plan of payment, which gives students enough time to pay their loans throughout the years keeping in mind whether that specific individual got a job following their degree. I myself am a student who attends an early college in hope of getting my associates without going in debt, and that’s another way debt can be taken care of. Finally, a kind of system can be created, where college also offers jobs or helps an individual find one after they have
The higher education system (or lack thereof) is not serving the country and its citizens. The increasing number of admission standards, exponential tuition increases, the financing of the cost through loans, and the boasting of turning students away all contribute to rising disparity between the quality of education that upper class families can afford compared to lower and middle income families. The rising costs of higher education in this country are problematic in that they fuel a disparity between economic classes. Capitulating the problem is the amount of debt college graduates have accrued at the time of graduation. The Institute for College Access and Success (2013) reported that 70% of graduates had and average of $29,400 of debt. This number primarily focuses on non-profit and private institutions. The average annual salary of a college graduate is $57,616 (United States Department of Labor, 2014). So many college graduates have accumulated a debt worth half of what their starting salary may end up being. The Institute for College Access and Success (2013) reported that 20% of that debt “is comprised of private loans, which are typically more costly and provide fewer consumer protections and repayment options than safer federal loans3” (p. 1). This is an oversimplification in that it is looking at a very general population. Based on the degree and the subsequent employment, income will vary as does the institution attended and the student’s economic status affect the overall individual debt.
Telling you what I will do to deal with excess student debt is boring. The other essays probably say enough of that. Obviously, I'm going to apply for scholarships, like this one and like ones my college of choice offer. Internships or other work will offer practical experience in addition to any wage. Naturally, I'll save money by renting textbooks, living with my parents, biking or walking to school, attend a cost-efficient college, and hey, maybe use LendEDU. You can guess that much.
Taking time to volunteer at the many nonprofit organizations, homeless shelters, advocacy centers, philanthropic fundraisers, local schools and child care facilities in the inner city is not always at the forefront of young people’s minds while navigating through their college experiences. But, with a little push from student organizations, local nonprofits and passionate individuals, volunteerism and community change can start to take a front seat and become not just an opportunity, but also a priority in the lives of young people.
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...