College Education: Degrees Outweigh Debt

873 WordsJul 10, 20184 Pages
The average college student acquires over $29,000 in educational debt. The debt of American college students has been steadily on the rise. Tuition has been increasing while the average American families’ income has been decreasing. Some students qualify for federal grants; however, the majority of money used to pay for college is debt that has been borrowed from private lenders. Students who qualify for federal grants must still depend on private lenders to fund their education. “Seven in ten seniors graduated with student loan debt, and a fifth of that debt was owed to private lenders, which often charge higher interest rates.” (CNNMoney) Most students enroll in college to better their lives, provide a more stable environment for their…show more content…
Repayment plans can also be differed while still attending school. According to an article by, Scott Cohn at CNBC, “There’s a lot of similarities between what’s happening with student loans and the housing crisis. But there is also a key difference; unlike a mortgage, in which a borrower can refinance or -at worst-face foreclosure and bankruptcy, student loans do not go away.” Restructuring or refinancing student loans can prove to be difficult. However, most lenders are willing to work with students and graduates who are in contact with them and attempting to pay down their debts. Many college students are lower income learners, and the increased demand for borrowed funds is being stretched to the breaking point. The current job market is not supplementing the income needed to repay the loans at the rate in which they are being borrowed. The job market for current graduates is the worst in a generation, and with the increase in borrowed money, some fear that the whole educational system is spiraling downward. The creator of this visual argument used a playful cartoon to depict a very serious and controversial subject. Student loans affect a huge majority of college graduates. By using the medium of a cartoon, the creator engages his audience by making the argument easily relatable. An argument, when clearly aimed at a particular audience and adhered with humor, has the desired effect of the viewers. By taking a serious topic and adding humor, it makes the
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