College Abt : The Big Problem Of College Debt

There are a plethora of people who will tell you college is in fact not worth the supposed wasting away of your money because you will never be able to compete with the rising cost of student loans that have plagued the recent population of higher learners. This is true if you only look at things though a very small spectrum. Sure, the economy might not be at the best it’s ever been, but another concept of economics that needs to be acknowledged is the business cycle. The business cycle is a very solid theory that

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).

Have you ever just stopped to think about what it must be like to be “qualified” for a job yet be unemployed and homeless? Starving on the streets because you paid everything you had to an institution that was supposed to guarantee a better life, a more stable and successful career. Obviously this is an extreme case, not everyone who pays for college ends up living on the streets and broke, but almost every college graduate is in debt. For as long as college has been around it has always meant a better life, it’s always been that people who went to college were more successful, smarter, and would make way more money than someone who didn’t go to college ever would. Lately, however, college has become so expensive that going to college will more than likely leave you in debt working for years upon years just to pay back what you owe and then start making money for yourself.

In their article “Should everyone go to college?” Stephanie Owen, Senior research assistant, and Isabel Sawhill, former Vice President of the Brookings Institute, argue that many factors lead to individuals not being able to attend college. They go on to claim these factors to be school choice, career field, graduation, and area of study. The article states that while on average the rate of return is usually positive, there are cases in which it is negative. One of their focal points is what it cost to attend college and its affordability. Claiming that with the rise in the cost of college, which progresses at a faster rate than that of the job wage increase, that college is becoming less affordable. In their conclusion a three step policy plan is included for individuals who plan to attend college. While realistically I agree that yes, some individuals should not go to college, my optimistic side would like to believe that everyone should and can go to college without it becoming a sour investment.

There have been arguments when discussing the price of attending college. The main argument that we have is whether college tuition is too expensive or not. Over the last few decades the college tuition rates have increased drastically, but is a rate increase necessarily a good or bad thing. I personally believe that the cost to attend college is too expensive especially for low and middle-income families. There are many reasons why tuition could be considered too expensive they include, rise of tuition, little financial aid, and lack of college savings to name a few. The first reason why college tuition is considered too expensive is the continuing rise of tuition itself. Between the years 1973 to 2008 tuition for a four-year increased

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

In mid-2010 higher education debt surpassed credit card debt at $830 billon dollars(Clemmitt 877-900). Debt has become an increasing problem for students who want to attend college. As more students try to further their education, tuition rises and so does the amount of loans taken out each year. According to Belkin, “Students attending public four-year institutions this academic year are paying an average of $12,620, up $220 from last year, for tuition, room and board,” meaning that tuition is only growing not decreasing from previous years(Belkin n.p.). Many people debate over whether they should attend college and be in debt or if they should get a job somewhere that allows them to live a comfortable life debt free. Two-thirds of college graduates have to take out loans in order to get through college(Dwyer, McCloud, Hodson 1133-1155). Many people question, “Does rising college debt limit who attends and completes college?”, while many people have different opinions on this particular subject, I believe that it depends on the student and their situation if college debt limits who attends and completes college because it depends on their financial stability, it depends on if they are borrowing the right amount and it depends on if their degree provides them with the means to pay back their loans, however, many people would disagree with me and say that yes, college

College is where students continue their education in order to get their dream jobs and better future. College tuition fee is increasing each year, and some students cannot afford to pay for it which most of the students put themselves in debt as a result. Many college students are living on their own and they have no other choices but to taking out loans to pay for their tuition. Student debt has its negative effect on the U.S economy. Because of the rising cost of tuition, some of college grads cannot even find a job and more college graduates have to move back to their parents’ house.

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?

“The only way to be successful and make a good living you must go to college,” I’ve heard that millions time’s during High School. Thousands of students graduate each year and apply to Universities. Waiting to see if they are accepted or not to the school. Some attend For-Profit Vocational college’s and other’s go to Non-profit Universities. But, with admission is tuition, that is a required to be paid each semester for a student. The price of tuition has skyrocketed excessively throughout history. What happened to the cost of education? Why is tuition rising, have schools become a business rather than an institution? What is more significant money or graduation rates for the schools?

“61 percent of new students at Harvard Law School last year had received their bachelor’s degrees outside of Ivy League” (Steinberg, Jacques 15). Still in this world their are college graduates that are highly in debt in college tuition and in college dept. College debt is a huge problem in today’s society for example student loans put college graduates in a deeper hole in college debt making it more difficult for grads to get out of their debt. Considering this problem college debt has many solutions to avoiding college debt like scholarships, attending community colleges and working and saving money so that college debt won’t be that high making future life difficult for these college graduates. Everyone has the ability in being successful in life but there are sacrifices that will have to be made.

The time and energy spent during college to earn enough money to support the student, their families, and other bills is just not changing to a reasonable cost. Lastly, Shierholz states “...the rewards for the time, energy, and money that young people put into college are less than they were a decade ago.” College graduates in the past could tell that their time and money was spent wisely, but as the years pass by it is harder for attendees to believe college was worth the efforts. With wages and expenses both going in opposite directions from what they were formerly, people have trouble knowing that college is the best choice for them.

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.

In addition, college in general is expensive. As claimed again by Garfield Gates, “Tuition costs are rising at alarmingly high rates. Add to that the cost of housing, meals, supplies, transportation, and textbooks, and you have a recipe for unmanageable debt.” The basis of Garfield Gates’s argument is that students are dropping out owing to the fact that they can not afford their education while others are forced to try to manage full academic schedules with full-time jobs to be able to survive another year. “Juggling a job, 15 to 18 credits, relationships,

Students find themselves facing a college debt payment within 6 months of graduation. Often, the student may not have found a job at the point the first payment is due. There are numerous times students borrow the full amount of money; for things other than tuition and books. They use the money for such things as computers and living expenses during college. The student may not understand that some loan types add interest from the very first day. Pell grant students still end up with college debt. Students find themselves looking for careers where they can start with a bigger salary, not public jobs. This contributes to shortages in some of the lowering paying jobs that are important to the society such as teaching.