A Lifetime Of Student Debt Not Likely Analysis

While this is often true, it can create problems when a student does not have the money to pay for a quality education. The cost of college has risen an estimated 250-500% over the last 30 years while consumer price index has only increased by 115 percent during the same time frame (White, 2015; Eskow, 2014). The amount of student loan debt is increasing, along with the cost of college. The income of many young people today cannot keep up with the rising costs of college education and housing. Part of the problem with student loan debt begins when students choose to attend a college that exceeds their financial resources and rely on federal student loans as well as private student loans to make up the difference. Eskow found that even public colleges and universities are becoming difficult to pay for without taking out student loans often averaging $30,000 for tuition, room, and board (2014). Since many people do not have enough money to cover college education expenses, they rely on student loans, both federal and private, to fill the gap. Financial advisor Ramsey stated that often the loans students take out pay “for an off-campus standard of living, and no debt was needed to get the degree” (2013). “The Project on Student Debt reported in 2013 over ⅔ graduating seniors were leaving school with student loans” averaging approximately $28,400 (White, 2015). Taking on almost $30,000 in debt before even starting a career can have a significant impact. It can force people to get a job just to pay off the student loans, not based on what they got an education for prepared for or what they studied. This also can cause a setback in future plans, having to delay many adult milestones due to lack of

I owe $40,000, I owe $60,000, I owe $100,000. Isn’t that a lot of money for one person to owe? Graduates have been faced with a serious problem brought about by the constant borrowing of money to gain a reputable education. The debt of loans varies from person to person but the extreme amounts that individuals owe is something the media finds worth gossiping about. Little does the public know, in reality, all the commotion and conversation about these debts are not accountable for the majority of college borrowers. According to A Lifetime of Student Debt? Not Likely by Robin Wilson, she intrigues her targeted college audience by giving examples and providing

Here in the United States, there are many forms of consumer debt, which help contribute to the large sums of debt countless Americans find themselves faced with. Directly effecting many college students is student loan debt. Student loan debt is now the second largest form of consumer debt behind housing” declares the Federal Reserve Bank of New York (Grisales). This is due to the fact that student loan debt grew 7.1% in 2014 to $1.2 trillion (Grisales). If this statistic alone is not worrisome this next one is sure to be. The amount of debt in the housing market that helped to spark the last recession was only $1.3 trillion (Grisales). Due to the increased amount of debt required by students to attend college many students are feeling the wrath. According to the U.S. Census Bureau, “In 2014, 11.7 percent of females and 17.7 percent of males between the ages 25 and 34 were living with their parents” (Grisales). The fear of obtaining massive amounts of debt is driving the current generation of student’s to put off many future hopes and dreams. While causing them to move back home to save money. The current student loan crisis is crippling the economy and ruining the lives of American students.

In her article “A Lifetime Of Student Debt? Not Likely”, Robin Wilson discusses how expensive a college education has become. Wilson notes, “It used to be that, 10 to 20 years ago, if you went to a four-year public institution, had a low to moderate income, and worked a reasonable amount part time in school, there was enough aid. And public institutions were better financed, so you could come out with no debt. That same student now would have to borrow to get their

Individuals dealing with student debt "are postponing marriage, childbearing and home purchases, and pretty evidently limiting the percentage of young people who start a business or try to do something entrepreneurial," said Mitch Daniels, president of Purdue University and the former Republican governor of Indiana (qtd. in Holland). Because it’s almost universally accepted that college is the key to success, students are finding themselves falling head-over-heels in large amounts of student debt justified only by these universal standards. Student debt doesn’t just burden the individuals who are liable, the sheer amount of debt has begun to rattle institutions and financial patterns that are at the core of American society (Holland).

Student Loan Debt Isn’t A Myth,” it describes how student loans are a huge crisis, and the

Student loans are becoming more and more of a problem for college students all across the United States. As college tuition has significantly increased over the past years, it has become extremely common for most college students to finance their education through student loans. Tuition has become so expensive that it is almost unheard of for a student to pay for their tuition out of pocket or by working for their education part time. As the result of tuition being so high, many students often graduate from college with thousands of dollars in debt waiting to be paid off. More often than not, people do not think of the consequences of taking out so many student loans, they usually have some reasoning behind why they take out as many student loans as they do and in return do not think about the after-effects and consequences of borrowing that much money. Most people do not worry about their loans because they expect to make a decent salary after graduating and believe that they will be able to pay back all of the loans later on in life. Due to the extreme cost of college and students obligation to take out student loans, college campuses should require students to become aware of the dangers of pulling more student loans than necessary.

In the U.S. students are encouraged to earn a college degree, but the cost of an education turns many away. “Driven by the allure of a decent salary with a college degree, Americans borrowed to go to school. Outstanding student debt doubled from 2005 to 2010, and by 2012 total student debt in the U.S. economy surpassed $1 trillion” (Mian, Sufi 167). There are plenty of opportunities to obtain funds for college, including one of the most common, student loans. A student loan is defined as “a common way to fund education, specifically college and graduate school, and they provide educational opportunities that you otherwise may not be able to afford” (Barr). Student debt is at an all-time high in America. Over half of all lower income

The problem this debt is that “The cost of higher education is increasing at an alarming rate, particularly at four-year public institutions. According to the College Board (2009), public colleges costs are rising faster than private institutions, and undergraduate students are facing new pressure to pay educational expenses.” (SOLIS DURBAND 1). This can be a real problem for students who choose to take student loans to pay for college

An estimated 20 million Americans attend college each year, and 60% of those students borrow annually to pay for it (qtd. in asa.org, “Student Loan Debt Statistics”). Moreover, citizens continuing to pay off debt after schooling brings the overall number of student-loan-borrowers to about 40 million- with a collective 1 trillion dollars in debt (McCarthy, “10 Fun Facts About the Student Debt Crisis); a fourth of these borrowers owe over $28,000, a tenth owe over $54,000, 3.1% owe more than $100,000, “and 0.45 percent of borrowers, or 167,000 people, owe more than $200,000” (Haughwout, “Grading Student Loans”). While some view this predicament as the result of laziness or carelessness, the bulk of this substantial group are not at fault.

These fraught students display the future, and it’s not looking too bright. With higher education becoming a progressively distant dream for the average American, heftier loads will be landed upon those who can scarcely afford to reach their aspirations. These students are not simple figures on a statistical report, but they are young people at a point in their lives where they must be aided on the basics and essentials of financial lingo and repayment plans (Rajan, 2014). The liability imposed on the current generation can only be noted as atrocious and sleazy, obstructing any economic growth that might’ve been projected before realizing the trap they have fallen into. Worsening as we speak, The New America Foundation has declared that debt

Student loan debt in the United States is expanding unrestricted each year. There are 36 million Americans today, holding over $740 billion dollars in student loan debt. (U.S. 2013) The current student loan system is intended to open doors to economic prosperity for those who could not otherwise afford to go to college. Research suggests that the unintended consequence of too much available student credit is real people losing prosperity and languishing in debt for extended periods of their lives. Reducing or eliminating the availability of student loans would have a tremendous impact on improving the lives of Americans. If things continue the way they are now, American’s will soon find college, and its implied ticket to economic

With the 2016 presidential election looming in the near future, the subject of student loan debt has become a major issue on the campaign trail. The national amount of student loan debt is 1.08 trillion dollars, with 11.5% of that amount in default or in 90+ day delinquent. To put that in perspective, total consumer debt at the end of 2013 was 11.52 trillion .(Forbes, 2014) According to an in class poll, only 7 students out of 169 students were completely confident in their knowledge of student loans. However, if we had lower tuition and expenses students wouldn’t have to take a loan out in the first place.

Caroline Kerr English 100 Mira Costa Community College April 2, 2015 Argumentative Essay In 2014, graduating college students debt on average increased by 25% — in 2008 going from $23,450 to $29,400; in 2004 only 900,000 students graduated in debt, in 2008 1.1 million students graduated from debt and in 2012 1.3 million students had gradated from a four year in college loans and debt (71% of all students). An even scarier statistic is that just from public schools in the United States over 65% of gradients had student loans as of 2012. The worst thing about this is that students who received Pell Grants (families that on average earn less that $40,00 per household) were more likely to have student loans, in fact 88% of Pell Grant students

In the United States today, the number of students graduating college with student loan debt is quite astonishing. In the article titled, “How the $1.2 Trillion College Debt Crisis Is Crippling Students, Parents And The Economy”, we will examine and break down the student loan debt crisis by the numbers. Today, almost two-third’s of students graduating college are graduating with an average of $26,000 in debt. For most students, $26,000 is a lot of money when the average annual income for a first year graduate is only in the mid $40,000 a year range. According to the Consumer Financial Protection Bureau, student loan debt has reached a new milestone, crossing the $1.2 trillion mark (Denhart, 2013, Introduction, par. 2). With student loan debt levels