Defaulting College Jobs

Decent Essays
Growing up, it is every child’s dream to attend a prestigious university and find the career of their dreams after it. While the few who achieve these goals are fortunate, the same can’t be said for a growing number of students who pursued a higher education but are currently jobless. This is the dilemma that’s plaguing today’s society. Students are paying a large amount of money to attend a conventional college or university but are not even guaranteed a job after it. Colleges should be responsible for graduates’ success in finding jobs because too many students are defaulting on their loans and the status quo is insufficient at meeting the student’s needs. Unable to find a job, most graduates are left with a financial burden after attending…show more content…
Opponents of holding colleges more accountable say that there is already a rule in place that pressures universities to financially make sure their students succeed. The rule says that if more than 30 percent of students who attend one college default on their loans within three years of starting repayment, then the college would be disqualified from receiving any federal financial aid. The problem with this rule is that the cutoff is so high that colleges can avoid this by pushing students to go into deferment, a temporarily postponement in making student loan payments or temporarily reducing the amount a student pays, to prevent the student from defaulting within the three years and the college from reaching the 30 percent mark. By having the student go into deferment, the universities are only sidestepping the issue while leaving the student with the financial burden after the three years. Another reason that the current status needs to be changed is that colleges are getting away with not providing the students the financial help they need. In nearly 20 years, only 11 institutions have been removed from federal student aid programs because the cutoff is so high and the appeals process so long. Congress is very lenient with the default mark because they don’t want to have to be forced into cutting off federal financial aid funding for colleges, but this only allows universities to let…show more content…
Every child should be able to dream big and not worry about having to settle with the average job or no job at all because we live in a world abundant with opportunities. Even though change might not happen with today’s generation of students, there is still hope for the children of the
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