College Tuition Or Student Loans

1371 WordsNov 18, 20156 Pages
In order to be successful in the workforce, having a powerful career there are things needed like higher education. Graduating from college is essential to finding a successful job, since more jobs are making college degree a requirement, more people are going to college. The problem is the cost of going to college outweighs the earning from the career you obtain. Very little people are able to pay for college out of pocket. In 2014, 42% of undergraduates paid for college out of pocket (Sallie Mae). The result of this is that students seeking higher education are forced to take out loans. On average, college students borrows $25,000 to earn their degrees (Alexandria). I just don 't get the concept of college tuition or student loans. It…show more content…
Increased tuitions are results of a variety of factors. Shrinkage of state budget and low endowments cause by the recession forcing colleges to make up the cost somehow (Lee). The government has increased their support during the recession. For example, in the form of Pell Grants which doubled over the years. Andrew Kelly, director of the Center on Higher Education Reform at the American Enterprise Institute, writes “... the increase of federal spending has been completely eroded by the rising tuition prices”(Bidwell). Higher tuition defeats the purpose of the federal government increasing their support. Americans have amassed more than $1.3 trillion of student loan debt (Clements). A lot of graduates are postponing life events like having kids, buying a house, to deal with the debt. About 14% of student are in default. Default means failing to make payments on your loan as scheduled. Defaults usually results in larger loan balances. With this upcoming election, it 's crucial for candidates to address student loan debt and their solutions. As a potential voter, it’s important I select the candidate that will benefits me and get rid of my loan debt. Hillary Clinton decided to take the pro borrowers stance. She want to assist borrowers and help them with repaying back the loans. Clinton always fought to make college affordable through her whole political career. Started from expanding students
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