Summary Of A Lifetime Of Student Debt

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Often times a celebratory present to oneself immediately after college graduation is a brand new car. Yet the price of buying a brand new car is about the equivalent to the amount of debt they have gone into via student loans. In the essay “A lifetime of Student Debt? Not Likely” Robin Wilson discusses in detail about how student loan debt is moreso a necessary tool rather than something to be completely avoided. It is scary for me to think that as an adult I can be over $35,000 in debt immediately after college. I fully understand that paying for college is difficult and scary, so the idea of using student loans is extremely appealing. However, I believe that borrowing in the form of student loans is okay in moderation, making it the key to …show more content…

However, the problem of overborrowing seems to lie mainly with students who have the childhood fixation of attending their “dream school.” Common sense seems to dictate that if students do not wish to go into debt that they should not borrow as much in student loans. Meaning they should not borrow so much money in order to attend a school for the name. Yet, multiple economists have said that the biggest issue with student loan debt is not the act of borrowing, but rather the audacity to borrow whatever amount of money is necessary to attend their “dream school” throwing the moderation discussed earlier out the window.
Wilson really emphasizes that borrowing money as a tool to pay for college is completely acceptable. He also believes that students need to acknowledge the fact that if they graduate with major debt they are the ones to blame. I believe that many students try not to think about the amount of money they have borrowed for college because they do not want to worry about how they are going to pay that amount back later. Then because they do not pay attention to their ever growing debt they continue to borrow more and more money. Digging themselves deeper and deeper into the hole of

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