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Essay On Student Debt

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The rising cost of tuition has lead to more and more financial problems with students causing them to take out more loans and go deeper in debt. Highscool graduates are skipping college because of the extraneous stress of financial problems that it causes. College is a necessity now a days to get a job, but college is also one of the biggest causes of debt. A college graduate has tons of money in debt but when he graduates he gets a mediocre job that cant keep up with the interest rates on the loans. The problem of student debt will only be solved by loan forgiveness, more financial aid, and students being more educated on loans. Since college is a necessity in todays society, companies and the government should offer loan forgiveness, or add it to their …show more content…

That causing the students to fault on their loans. Haley Edwards states in “ But can America afford this approach to solving student debt?” Work in public service they can get loan forgiveness in just 10 years.” Public service jobs are jobs that are related to the government, these jobs allow student loan forgiveness after 10 years which is crazy because a college graduates average age is 22 and that puts them debt free by 32. Others it takes well into their middle age years to pay their debts back. Loan forgiveness lifts massive amounts of stress their shoulders. Students don’t know how to handle debt. Most students out of highschool don’t lnow what loans are and the backlash it could have on their futures. They have no clue on how to calculate interest, how long itll take for them to pay the debt back either. “ 71% of undergraduates who graduate with debt or the 1 in 7 who end up defaulting on their loans.” (But can America afford this approach to solving debt, Edwards) This statistic shows that students who are just now entering college that they don’t know anything about loans. Or they don’t get jobs that can pay their loans back. “ The

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