College Student Debt Essay

The later idea suggests that one of the major conflicts associated with credit card debt among college students is because of the relaxed view taken on credit. To illustrate, “83% of college undergraduate students in the US have credit cards…”(Wang & Xiao, 2009) exemplifying the potential danger of accruing debt by signing up for so manu credit cards. Furthermore, with increased costs of education, universities find it is acceptable for students to pay for tuition by credit card. In certain circumstances, credit cards have become a quick remedy and students are forced to supplement income to pay for education and other necessities and as a result perpetuate the debt issue.

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 debt relief is a controversial issue in America today. Student loan debt affects twelve million college students, roughly 60% of all college attendees, per year (Student Loan Debt Statistics). Student loan debt relief rose to the forefront of economic news during the financial market crash of 2008. The U.S. Government has developed a debt relief plan that extends payments over a 25-year period, with a full forgiveness of all remaining debt at the end of that 25-year term (Ensuring That Student Loans Are Affordable). During this repayment period, payments can be suspended during times of unemployment, giving hardship students a break from their student loan payments. Many people feel that student

College debt can stunt most students from pursuing their college dream and going to their school of choice. Students get scared of the word debt and the numbers that they would be dealing with outside of college. Students are putting aside going to their dream schools because of the fear of how much debt they will get into after college. There are many reasons why people don’t pursue college, or just from not being able to afford it. Students go back and look at not going to their dream college or college at all and regret not taking the challenge and going with what they always wanted to do. Some students experience not being in debt after college and why they think college tuition is right where it needs to be, but others will make shocking choices to not be in debt. College students are choosing not to pursue their dream college or college at all because of finances they would be dealing with after college, debt.

The problem that I am addressing is the problem of student loan debt. Student loan debt and the attempted prevention of it is one of the biggest problems in the country today. Although nationwide, it affects each and every college student directly. Personally, it affects the options available to me as to where I am able to attend college. My decision will not be based upon where I want to go or where my grades are good enough to get into, but rather which school will leave me in the least amount of debt.

Students High in Debts Crisis "The only good thing about student loans is that the day I die my children will not have to pay for them” (Block). The problem with everyone not being able to go to college is the cost of it. Many High school graduates don’t even think about going to college because of how crazy expensive it is. Many students drop outs later on due to not being able to keep paying and the ones who do graduates struggle in paying off their student loans for years.

Most people in college face the fears of being in a lot of student debt after they graduate. So, most people decide to skip out on college, so they can save thousands of dollars. College is expensive and leaves people in a lot of debt. A lot of people can't afford college and don’t want to take out student loans, so they don’t go to college. "The average borrower is expected to carry more than 38,000 in student loan debt".

From the beginning of an education in preschool, to the time of graduation 14 years later, everything learned, interpreted, analyzed, understood, or even misunderstood has its effect in the future. The question is always “what do you want to be when you grow up?” As you age, the career dreams develop into a more mature answer. No matter how anyone is raised, there is always someone pushing at least one other person to go to college. Then, that silly career question is turned around on them, “how exactly do you expect me to afford college?” Roughly, about $809.6 billion is spent on college in the United States each year. Along with all the money spent, deb comes trailing along. Everyone can agree college tuition is not cheap, not to mention

Proposal: When going to college, many students run the risk of collecting high amounts of debt, and others drop out, leaving them with no degree and exorbitant amounts of debt. However, the students who do successfully complete college often become stuck with low paying jobs easily accessible to those without a college diploma. Since a beneficial outcome of obtaining a college degree is no longer probable, students should not put their money towards achieving a higher level of education. Point 1: With the rapid growth of college tuition, many students find themselves in seemingly endless piles of debt. Bill Fay, a financial journalist, agrees the average student will accumulate “more than $38,000 in student loan debt.”

I am writing you this letter to share my concern about college tuition and the debt that comes from it. There is no bill in the legislative that pertain to the enormous increase in college tuition, as a college student I would love if you would put a bill in legislative that make college more affordable for every student. 9 out of 10 graduating seniors will have an student loan debt to pay My issue is college tuition is putting my generation in debt before we can get a job in our field of study when we graduate. The tuition debt of college students coming out of college is estimated of 30,000 in student loan debt. College Tuition has spiked in the last 30 years to the put that college is not valuable option for poverty and middle-class teenagers. There is a real need of a bill that helps out student with student loans payments, so that we don’t come out of school with debt.

65.7% of college students have to get student loans to pay for college, and the average student loan debt is $19,237 for a graduating senior in the United States according to the National Post Secondary Student Aid Study. This is no surprise considering that the rate of tuition increases 7% per year, and in some of the more prestigious colleges, students will have to pay well into six figures just to get their education. Even in-state rates for South Dakota, which is comparatively very cheap to practically everything else, students are still paying $40,000 for their education when one factors in dorm living and a meal plan. Most students will need to borrow some money on a student loan to get through school, but how does one know if they're

I think our students need debt. As for as I am concerned, college students should have a comfortable lifestyle in college. With all of the negative consequences of credit card debt, the fact is that most students need, or should at least have a credit card. If for any reason at all, it’s to establish a credit history. You need credit in order to build a credit score, soobtaining a credit card at a young age is an easy way to do this. When we have a credit card, we would try ourselves to pay the money and we will know it is not easy to make

Students who have to take out loans to attend college not only have the stress of knowing they are going to be in debt after they graduate, but also have to spend time during the school year working to keep the loans down and applying for new loans to keep them in school.  Having to take out loans increases the difficulty of college compared to students who only have to focus on their education.

Money is a necessity in life and is a constant worry for college students especially when you take out a $10,000 loan. Financial aid has replaced studying as the biggest worry for college students. The objective of college is to learn and grow as a person, but is limited by financial capabilities which is a big problem for the U.S. education system and prices continue to go up. Main focus is having to focus on rigorous studying, students may also have to work to stay in school. A student is paying college through a $10,000 loan and working a part time job 20 hours a week. John wonders if getting a credit card will help him financially. The best solution is to attain a credit card that has student benefits included and will make it easier to protect and keep track of your money.

Students are graduating with an enormous amount to debt. This is a perfect reason to stop marketing credit cards on college campuses. The average outstanding balance on graduate student credit cards is $8,612, an increase of 10% from the 2003 average of $7,831 (Nellie Mae, 2007). This shows the trend that students are graduating with more debt than just their student loans. Students should not be worrying about any other debt after graduating. With credit card companies preying on students on campus, students will get these credit cards and ruin their financial future after college. Students which are 4 year undergraduates that borrow to pay their education, graduate with an average debt of $24,651 according to The Smart Student Guide to Financial Aid on www.finaid.org. That total with the average credit card debt equals $33,263, which is double the annual income of a minimum wage worker in the state of Maryland. Students will more than likely make less money a year than the total amount of debt they accumulate in college. Why then have credit card companies on campus dimming the potential light these students