Continuing College Benefits

There are many challenges that my generation will be forced to face upon entering the workforce. However, I feel one of the most important challenges we will have to overcome upon entering the workforce would be educational debt. As time progresses and American society advances, it is becoming more essential to have a college education before entering the workforce. While more of my peers are opting to go to college and earn a degree, they are also opting to acquire a substantial amount of debt in the form of student loans in order to pay for their education. The price of attending a university is increasing every year and students are forced to figure out a way to finance their education. According to Dave Ramsey, financial reasons are the

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:

In the year 2007, 18.2 million students enrolled into college. About thirty-nine percent of those students were between the ages of eighteen to twenty-four (Marcus). College is seen as something one must do to be able to have a successful life or career. Student debt is almost guaranteed for anyone that goes into college. Seventy percent of bachelor's degree recipients graduate with student debt. Student loans in just the U.S. alone are up to 1.2 trillion dollars, this is the second highest level of consumer debt, just trailing behind mortgages (Snyder). Student debt has been an issue for anyone thinking about going into, that is attending, and graduating or leaving college. How to solve this issue is very simple, which is to save money, lower

Student loans have become a popular topic of discussion due to the tuition increase and individuals taking out tremendous amounts of debt. Participating in higher education systems may have hidden costs that students may not be aware of. Students seeking higher education opportunities may not understand how their college decision should correlate with their possible career of choice. Natalie Lohrenz, a chief development officer and director of counseling at Consumer Credit Counseling Service of Orange County, advises students to not “take out more in student loans than what you expect to make in your first year of work.” Students who do not consider this rule will suffer from debt in the future. Previous college graduates did not have to choose

When just out of high school, young adults walk into the financial aid offices on college campuses, many of them are pressured into taking out huge loans. That is why, in 2014, 34% of people who own loans were under the age of 30 (Gorman). The huge weight of loans it prevents both students and families from spending money on themselves as well as their future. The pressure from the loans on young adults has resulted in 44% of students postponed traveling, 25% postponed moving out of their parents house, and 47% postponed purchasing cars for themselves. (“U.S. Student Loan Debt Statistics for 2017”). Paying back these loans

Financial support has played an important role for college students, especially for university students, whose family could not support their education after they have graduated from high school. Due to this situation, students have to go through a lot of problems with their tuition fees to be able to continue with their education. They always need a large amount of money besides paying for the tuition but also for living, and students have to go through a lot of problems with their tuition fees in order to be able to finish their career on time and earn a better living in the future. Some students will choose to go to work part time while at school, so they can pay for their fees and their own expense, such as gas, foods, and clothing. On the other hand, most of students will choose to take out loans from somewhere else, such as the bank or federal loans. This way, students who choose to take out a loan could focus on their education without worrying about how to pay for their fees. It is very important for students to acknowledges and be aware of the different types of student loans, and all the requirements before students decide to obtain a loan. Because of the raise in tuition leads to the existence of the student loan debt is a burden that is a financial impact on lifestyle changes, such as postpone couples to get married, to have children, to buy a house and to save for retirement.

The amount of students graduating with and intimidating amount of debt are rising exponentially year after year. According to the gainful employment regulations student loans payments are to much for intro level jobs students are receiving following their graduation. On the same note another study shows that student loan payments require on average thirty percent of the students discretionary income, which then lessens their standard of living. According to Education Secretary John B. King Jr “When a student makes a personal and financial decision to attend college, the student must feel confident that it is a sound investment in his or her future, not a liability that will further defer his or her dreams.” (1) If a student cannot afford college then it might not be the best option available to them.

College is worth it for many reasons and ways. Source #1 stated that (college graduates make 38% more money than a non college graduate) this means that if you go to college after a long while you make nearly 1 MILLION more dollars from going to college compared to going to just high school. Ultimately college is much more meaningful moneywise after a long period of time. One big reason why people should go to college is because college graduates make plenty more money than high school graduates. Source #2 states (paraphrased) (with a college degree you can get almost any job you would like and make much more money than a high school graduate).

In America today, the total consumer debt was $11.52 trillion, and of that, student loans account for $1.08 trillion and that number is growing larger and larger every year (Hiltonsmith, Robert). A large portion of the population undoubtedly feels the burden of these statistics. Seven out of every ten college seniors has reported having to take out one or multiple student loans so that they can to afford to go to college (Hiltonsmith, Robert). The results of this outstanding amount of debt does not just affect the United States negatively for the obvious reasons such as lower credit scores and perpetual expenditures towards lenders. This loan and debt crisis has also led to an even larger disparity between the lower class and the upper

College graduates are strapped with mounting levels of debt as they pursue a college degree to cultivate their human capital and improve their career options. Recent generations of young adults are earlier along in debt accumulation and have yet to hit many of the major adult milestones that often lead to debt, they are loaded with

A national debate over the staggering cost of tuition is gaining momentum. Prospective students are burdened with the struggle of not being able to attend college due to the inability to afford it. Unfortunately for those students, college is usually seen as a pathway to a successful life and career. Those who struggle to attend college usually acquire student debt and it is a huge problem among society as so many adults carry a debt burden for the rest of their life, preventing them from living a stress free life. Parents struggle to send their children off to college and for those who do attend are often drowning in loan debt for a long time. In order to get a better understanding of the determinants of student college debt, Anne Macy and Neil Terry, staff members of West Texas A&M University did extensive research. The purpose of their research is to examine the factors of student debt while focusing on financial, institutional and demographic variables (Macy and Terry 15). Although this paper seems to be about the determining factors of student debt, it is really about how America values education.

Numerous students are confronted with the awareness that their college tuition is more than what they can afford. While government grants, scholarships, and loans are available, few understudies are still left with an excessive amount of debt to pay off. For some students the only way to pay for college is paying out of pocket. This could be on account of their parents or guardians losing their jobs, their grades aren’t high enough to receive scholarships, or they're all alone. College students also have personal expenses to pay off; may feel overwhelmed. For example the stress of paying bills, buying books, buying food, and other personal expenses can be challenging for an undergraduate to handle. Not to mention the amount of their tuition and the amount of their students loans. On top of tuition fees and loans, there are also other expenses required for school such as reliable

Last year, around 39% of 18 - 24-year-olds were enrolled in college, and about 1.8 million resided in on-campus dormitories. For many students, college is the first time that they can gain financial freedom from their parents. Some even carry the financial burden of paying for college out of their own pocket, paying thousands of dollars before they even complete their first year. The complexity of applying for student loans and managing debt can be made simpler if students are guided through the admissions process. On the other hand, some kids decide to skip out on college, around 60 percent of these students didn’t even apply to college at all! Those who enter the workforce straight after high school need extra assistance in filing their own taxes, balancing a check, and applying for their first credit card. Since no one is born understanding how to manage money, it’s important that they build a strong financial foundation for kids to learn at an earlier age because once the wrong habits are formed, they are hard to break. According to a recent survey by XXX REPORT only 26% of 13-21 year old surveyed recently said that their

In college, money is an issue for many students. “For many, the financial burdens of college are too overwhelming, and many dropouts cite a lack of money as the number one reason why they left school, according to ACT” (Whitbourne). The economy is struggling and so are students. “Now that the economy has weakened, undergraduates have been left grasping for ways to fill the budget gaps in the most difficult financial climate in decades” (“Crisis”). Student loans are hard to get because the economy is suffering. Students sometimes become in financial debt due to student loans and struggle to pay them back. Many students have multiple responsibilities such as: children, homes, and cars they have to provide income to support. In addition to financial problems, students are often distracted in college.