A College Education Ranks Right Along With Owning Your

1241 WordsFeb 6, 20175 Pages
A College education ranks right along with owning your own home as the foundation of the American dream. (Archer) College students, many of them face debt trying to better them selves. Most will attend college only to be paying for their education years after they have graduated. A Percentage will fall behind or simply not pay because of other life obligations. Student debt, accounts for well over one trillion dollars of debt in our country presently and it is continuing to rise year over year. New and returning students both may end up not finishing due to cost and the financial hardship they face associated with the cost of school. During my research, I found out that financial assistance, even student loans have not always been…show more content…
However, I would still rack up debt because credit card companies came to campus to sign people up for cards. So, I couldn’t imagine having a student loan on top of all my credit card debt, which totaled about forty-five hundred dollars. My debt situation wasn’t anything compared to some I went to school with. They had to leave a University because it was too expensive and they didn’t qualify for financial aid. An interesting question has always surfaced through the years, and that is whether or not student loans should be forgiven? There are some that will say no because they had to pay one or multiple back. My friends that have paid them back always say no and that it is just part of growing up. My friends believe that paying back their loans helped them become more responsible with their money, because they had that obligation. Also, there are people who believe that if student loan debt is forgiven and they paid theirs then they are due a refund. There are only a handful of reasons your debt is wiped. These reasons include teachers working with low-income children (my niece is doing this), if you die, the school you are attending closes, or you become permanently disabled. My stepsister happened to have over thirty thousand dollars in student loan debt, she got done paying it when she was thirty-two. Students may not realize how loans work and the interest rates are often not assessed while obtaining the loan, which can be detrimental and long term. At Present,

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