A College Education Ranks Right Along With Owning Your

The main problems with student debt are the high monthly payments, high interest, short grace period, and repayment programs that does not apply to everyone. Majority of students can’t pay back loans they have borrowed because they aren’t given enough time to pay them off. Students have at least six months to pay off their debt before they get an increase in interest. Over 75% percent of students have to get loans to pay for their first year of college and more (Quadlin). Debt is something we all have to deal with even parents suffer from them as well.

With the cost of attending even public state schools starting at $20,000 a year, most college graduates will leave with student loan debt. This inevitable debt can already be immense and feel crushing. Credit card debt accumulated in high school is not forgiven by the bank when a student graduates to college. Why would you let your teenager needlessly make their future financial situation worse? Stress surrounding student loan debt has claimed lives. In Oklahoma, two colleges students committed suicide over their inability to pay their debts. They were found dead with their bills beside

A problem with student loan debt is that students gain more debt because they are not able to pay off the student loans within the given time which also causes them to put certain life decisions on hold. According to Sophie Quinton debt is a problem for the recent college graduates because “There’s currently no way to get rid of federal student debt other than paying off the loans. while some borrowers are paying off their debts just fine, overall they are adding debt faster than they are shedding it”(Quinton). According to Jamaal Abdul-Alim stated that a “survey - titled Student Loan Debt: Who’s Paying the Price?- revealed a number of troubling statistics about the practical ways that student loans are impacting college graduates in their everyday lives. For instance the survey found that: 49

Most students do not make enough money to be able to pay for college debt free. In addition, most families don’t make enough money to pay for the college costs upfront. For this reason, students have been borrowing money from private loans to be able to attend a college/university. Although the government might give several students, who apply, money to pay for books and housing, it does not cover the total cost to attend college and obtain a degree. This might not be encouraging for students who wish to receive an education but do not want to owe money in the future. Loans have been scaring off students who wish to further their education and live their lives comfortably after college. If student loans were to be forgiven, graduates would not have to worry about owing a large amount of money.

A lot of people will argue, that college is too expensive. Not everyone can go to college, for financial reasons. Also, they may get into college, but end up having to leave because they cannot afford the remaining balances; or, they received financial aid, but end up having to take out loans they are going to be paying back forever. It is like once they graduate they will be working mostly to pay off their student loan debt. This also discourages some students. In some cases, they will not even take the initiative to try because it is so costly. I do not understand why it cost so much to want to better yourself, and possibly put us in debt for the rest of our life just to receive a higher education. Not only has the cost of college risen over a period of time, but it continues to go up. Yes, they have alternatives for paying student debts, but what if you do not qualify? Lastly, you are not guaranteed a job just because you graduate and have a college degree(s).

When opportunity knocks you should always open the door. College is a great opportunity to garner success from a secure career. Furthermore, college or university education is worth the debt you will accumulate from it. If you're still weighing your options, consider this, "Lifetime earnings for college graduate are substantially higher than the earnings of someone without a college degree," (Source 4, pg. 13). Getting a higher education is not just good for you, but its also good for your bank account. On the plus side, it is easier for you to live a better life, and if America ever hits a recession you will be in a better position to support you and your family.

College debt can stunt most students from pursuing their college dream and going to their school of choice. Students get scared of the word debt and the numbers that they would be dealing with outside of college. Students are putting aside going to their dream schools because of the fear of how much debt they will get into after college. There are many reasons why people don’t pursue college, or just from not being able to afford it. Students go back and look at not going to their dream college or college at all and regret not taking the challenge and going with what they always wanted to do. Some students experience not being in debt after college and why they think college tuition is right where it needs to be, but others will make shocking choices to not be in debt. College students are choosing not to pursue their dream college or college at all because of finances they would be dealing with after college, debt.

A retrospective look might provide a clue as to how so many Americans landed in the whole “student loan” dilemma in the first place. As discussed in the America article “The Student Debt Crisis” as part of the plan to create a ‘Great Society’ President Lyndon B. Johnson signed into law The Higher Education Act of 1965. The act provided more funding to public colleges and universities, giving them more resources so that students would be able to afford college. Hence, the birth of the student loan (2015).

Student Loans: What They Are, What The Evolution of Student Loans Has Looked Like, and What The Current Policy Is.

College is where you go to get higher sources of education. Many high school students dream of attending college in order to attain more knowledge, yet so many people fail to realize the cost of college. Attending college, currently, is nearly impossible to do without being in some sort of financial debt or seeking out government help. According to the American Association of University Professors, “two-thirds of American college students graduate with substantial debt, averaging nearly $30,000 (if one includes charge cards) in 2008 and rising.” (AAUP, 2012) Although going to college is beneficial, there is an argument on whether or not going to college is worth the possible debt incurred. The goal

College has always been used as a means to an end, with that end being their American Dream. Through college, they would gain knowledge that could help them achieve that dream. Over the recent years, with the economic troubles, people have shifted from the idea of

Debt can make one’s life become a stressful thing. There is a constant worry the debt will continue to grow or dealing with the struggle of having to pay every last penny back plus more. Colleges are finding fewer reasons to lower prices and more reasons to raise prices. The college perspective is understood by many in this matter though. Colleges, as well as any other business, needs to make money also. The affordability of college is the second most important thing about a child’s college education, right below the actual education itself. “… the cost of college will remain unaffordable, tuition will continue to rise, and the 18-year-olds… will ‘get to’ continue paying for college with student loans” (college cost act does not…). Does it really pay off to go to college though?

According to most people I speak to, student loans are a nightmare to pay back. I was more fortunate than most while in school, receiving a number of scholarships and grants to pay for my education; however, even with all the scholarships and grants, I still had high college expenses that forced me to take out loans. From the incredibly high cost of living in and around universities, to the cost of food, textbook costs, and additional college fees, I had to borrow $45,000 over the course of 4 years. Not getting a job right after graduation, I had to look for various ways to make as much money as possible to pay all the bills flowing in through the mail. I opened studioinvisions.com, my own web development business, but even with having a

My $15,000 debt has been around quite a long time and will probably take me about 10 more years to pay off. There have been periods where I have paid regularly but more periods where I have requested deferments. The government makes it very easy to defer and they give you quite a bit of latitude when it comes to making payments on the debt. I have never been in default and never will be barring a catastrophic life occurrence. I do not resent my debt and it will one day be a memory. Without student loans, I would not have been able to get the wonderful education I received from UCLA. My college years were wonderful - some of the best years of my life. The collegial environment, the rigorous academic requirements, the diverse group of people I came across and forged friendships with all contributed to an enriching educational experience. Therefore, yes the student loans were definitely worth it and they contributed to making me the person I am today. When I lost everything, I still had my education. I was the first person in my immediate family to go to college and received a write up in the local paper when I graduated. My loans were spent strictly on my college education. I was responsible for the cost of my education and used the loans for that purpose along with working two to three part time jobs during the school year and lining up a job for the summer. I have benefited greatly from my education. Not

To most people college is their goal at succeeding in life. Whether you get a scholarship or pay yourself, college is expensive. To some it is a waste of time and money due to the fact that, graduates are not getting their money's worth in their degree, they are burdened by student loans, and their degree does not guarantee them a job. With that and a growing tuition rate, most people can't afford a higher education. College is simply not worth the cost anymore.