According To Most People I Speak To, Student Loans Are

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

Student loan debt has become a discouraging problem throughout today’s economical foundation. “Overall debt is falling but student loan debt is increasing year-over-year and at a much faster rate,” chief executive David Stevens told The Washington Post. “[Young graduates] are already on the margin for being able to qualify for a mortgage. If you add on a

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

Student loan forgiveness is a terrible idea. Sure, in an idealistic world it would be great if the country could forgive all student loan debt and thus bring relief to all students across the nation. Realistic? Not necessarily! Instead of the fairytale notion of student loan forgiveness being the answer to all the problems, America would fair better in taking the initiative in making reforms to the educational loan system that are a bit more realistic. Student loans are a massive predicament in the U.S. that can no longer be ignored. The Atlantic 311.2 article “The myth of the student-loan crisis(CHARTIST)(Statistical data)” by Allan, Nicole, and Derek Thompson states that to date student loan debt surpasses all other forms of debt with over a one trillion dollars sum (2013). The United States should stop being complacent on an issue that has affected and ruined so many lives and begin finding ways to relieve the proverbial and ever-present menacing “Student Loan” pitfall.

Over the last decade student loan debt has risen substantially and is now one of the largest form of personal debt in America, totaling about one trillion dollars, with 71 percent of students who earn a bachelors degree graduating with debt, with the average amount of debt being $29,400.

Why do college students takes on more debt than they need? John C. Ninfo II is a retired federal bankruptcy judge who wrote an article in the Daily Messenger called “Avoid crippling student loan debt.” on August 22 of 2013. In the article, John C. Ninfo talks about how college student are getting in a lot of debt after leaving college.. John C. Ninfo talks about ways to avoid huge amount of debts in his article. Learning about these kind of information provide to us by John C. Ninfo helps us understand ways to go about minimizing students loan.

A great deal of students turn to college loans to help pay for their many college expenses. A study conducted by CNBC displayed that 59 percent of student’s graduation from a public four-year institution had student loans. After graduation many students found themselves under “student loan pressure”- meaning it will take years of them working in order to pay the debt. Students will invest thousands of dollars towards tuition, housing and textbooks and may be paying the school back for years following their graduation.

This is not my first time hearing about student loans and how badly they affect one’s life. Growing up, my mother always preached to me the importance of good grades and how they would benefit me in the long run. She always told me that good grades and a good ACT score would get me Scholarship money; money that I do not have to borrow. I know personally how student loan debt can affect one mentally and physically. My mom went to a private institution and could not get enough scholarships and grants pay, so she had no choice but to rely on student loans. She is a social worker making $30,000 a year, and owes more in student loans than her yearly salary. My mom like many others not only had to struggle paying loans, but also had to maintain a household.

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

As Young teenagers become adults and start College, one issue that doesn’t seem as a big deal at the moment for many students are student loans. Young college students who don’t have the money, don’t have enough scholarship money, or family who doesn’t have the money to pay, will apply for student loans each year. They amount the student receives can vary depending on the college and what the student has achieved academically. Though interest rates are low with subsidized being 4.29% and unsubsidized being 5.84% ("Federal Student Aid" Interest rates and Fees), student loans still have a huge effect on college students once they graduate. One college graduate’s story helps explain the struggles for most students:

Chris Lewis and Layla Zaidane explain why Allan and Thompson from the article ‘The Myth of the Student Loan Crisis’ are wrong. Lewis, Chris and Layla explain in their essay, ‘Here’s Your Crisis: Student loan Debt Isn’t a Myth’ that, “six figure calamities are indeed rare, but millions of americans are caught between stubbornly weak labor markets and increasingly costly higher education.”

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

Student loans can be confusing. Being a senior just getting out of high school and listening to terms such as, “loan consolidation,” “subsidized loans,” etc. can be a little intimidating at first; it could also be intimidating for people that is returning to school after a long period of time. Either if it’s to take classes online or attending to the nearest college, asking for a huge amount of money to be lend to you to further your education is not something that is done in an everyday basis, and it is not something that can always benefit you.

Millions of people across the country, including us, attend college. Many consider the education received at university a priceless experience. But to me, the $1.4 trillion in student debt doesn’t seem very priceless. Taking out student loans is a very common occurrence especially in the United States, and countless people of all ages still struggle to make their payments even decades after college. With the rising prices of tuition, more and more students have to take private loans, which are much less forgiving that government financial aid.

Student loan is awful, however, not being able to fulfill your potential is worse – at least that’s how I feel. Take my situation for example, I have a mundane and thankless job – it has become just a routine. Yes, I hear “I appreciate what you do” from time to time from the public, however, I just can’t get any satisfaction out of it.