Essay

While this is often true, it can create problems when a student does not have the money to pay for a quality education. The cost of college has risen an estimated 250-500% over the last 30 years while consumer price index has only increased by 115 percent during the same time frame (White, 2015; Eskow, 2014). The amount of student loan debt is increasing, along with the cost of college. The income of many young people today cannot keep up with the rising costs of college education and housing. Part of the problem with student loan debt begins when students choose to attend a college that exceeds their financial resources and rely on federal student loans as well as private student loans to make up the difference. Eskow found that even public colleges and universities are becoming difficult to pay for without taking out student loans often averaging $30,000 for tuition, room, and board (2014). Since many people do not have enough money to cover college education expenses, they rely on student loans, both federal and private, to fill the gap. Financial advisor Ramsey stated that often the loans students take out pay “for an off-campus standard of living, and no debt was needed to get the degree” (2013). “The Project on Student Debt reported in 2013 over ⅔ graduating seniors were leaving school with student loans” averaging approximately $28,400 (White, 2015). Taking on almost $30,000 in debt before even starting a career can have a significant impact. It can force people to get a job just to pay off the student loans, not based on what they got an education for prepared for or what they studied. This also can cause a setback in future plans, having to delay many adult milestones due to lack of

“Ensuring quality higher education is one of the most important things we can do for our future generations” (Ron Lewis). There are more students enrolling in post-secondary schools than ever before and consequently there are more students acquiring large debts. Once a student graduates, they enter a $33,000 or more student loan debt (Students Loan Resources). These student loans continue to place graduates into large debts, which is largely caused by their lack of knowledge of available resources, and this impacts their everyday lives and future generations.

List and describe the four force multipliers. How do terrorists us force multipliers? Give examples for each force multipliers.

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

Countless people would agree that our country’s young adults continue to incur a lifetime of debt by enrolling in college. In addition, it has become a somewhat understood that when preparing to attend college, one might as well expect to graduate with a monstrous amount of debt. Very valid and life altering problems can arise with student loan debt. Robin Wilson, a reporter for the Chronicle of Higher Education, wrote an article, A Lifetime of Student Debt? Not Likely.

Here in the United States, there are many forms of consumer debt, which help contribute to the large sums of debt countless Americans find themselves faced with. Directly effecting many college students is student loan debt. Student loan debt is now the second largest form of consumer debt behind housing” declares the Federal Reserve Bank of New York (Grisales). This is due to the fact that student loan debt grew 7.1% in 2014 to $1.2 trillion (Grisales). If this statistic alone is not worrisome this next one is sure to be. The amount of debt in the housing market that helped to spark the last recession was only $1.3 trillion (Grisales). Due to the increased amount of debt required by students to attend college many students are feeling the wrath. According to the U.S. Census Bureau, “In 2014, 11.7 percent of females and 17.7 percent of males between the ages 25 and 34 were living with their parents” (Grisales). The fear of obtaining massive amounts of debt is driving the current generation of student’s to put off many future hopes and dreams. While causing them to move back home to save money. The current student loan crisis is crippling the economy and ruining the lives of American students.

Interest rates are constantly on the rise along with the cost of tuition and the income levels of students are not increasing in order to make ends meet. Therefore, student debt is spreading rampantly across our nation and is becoming a tremendous issue. Student debt is a topic that is relevant in today’s society because it affects such a large portion of the population. Furthermore, it is affecting the country 's economy in many ways. With the accumulation of debt, students are unable to afford to purchase a home, or at times, a brand new car because there is simply no way that they can afford such a large investment while they scramble to pay their loans.

Post-secondary education comes at a very high price. The excitement of graduating college to land the six-figure job is soon destroyed when you realize how much debt you are in. Dreams of owning a house and starting a family is shattered by the money borrowed to provide and guarantee students a better future. Instead of waiting to land that perfect job, students are forced to work multiple jobs to help ends meet. Struggling to stay afloat, millions of students are becoming victims of one of the major economic crisis in the United States; Student debt.

Tuition and student debt at colleges and universities in America have been rising far more quickly than inflation for over four decades. This is a trend that will continue without intervention. Student debt drastically affects students’ lives and decisions from getting married, to buying home, or to starting a business. The amount of debt held by students after graduating not only negatively affects the individual, but the economy as well. Loads of economic activity is currently halted by students working to pay off their loans. This is a consequential problem and the increasing number of student debt in America must be addressed.

Throughout the United States, student loans have been show to drag this economy down. Student loans have been a big problem through many of the years. It has been showing a trend and it is raising and exceeding many of the debt types each year. Many problems that students that have loans cause are, “ 20 percent of respondents indicated they cannot get a loan for other items, are unable to purchase a home, and student loan debt negatively impacts their credit. 18 percent of individuals indicated they are living paycheck to paycheck, “drowning” in debt, and have a large debt load. 13 percent indicated they have a lower quality of life and are unable to afford the extra things. 12 percent indicated they are unable to save for their retirement or their children’s education and feel less secure.” Students that have

Facing a seemingly massive debt can create a scare tactic to continue on a path toward a higher and exceptional education. Although there are controllable factors to help lessen the weight of student debt it creates a wall of challenges toward furthering ones education, because of the fear of falling into a seemingly large debt Canadian students are afraid to maximize their education, prohibiting Canada to create and maintain a stronger and more skilled work force.

Over the years, the cost of college has hastily increased and the students of this time face a lot of prices to pay; the main two expenses to pay include tuition and living. According to an article by Laitinen, “more than two-thirds of students graduate with debt. And the average amount of debt owed is about $30,000.” (“College Credit? Kill that”) This means that the average person who attends college--whether it be a community, public four-year, or private four-year school—graduates with $30,000 in debt. The amount of debt that these students have when graduating from school is highly important because not only is it debt in general, but it also contributes to future issues the students may have in their financial lives. For example, “…an

In 2010 student debt has increased to $830 billion. That is more than credit card debt. Graduating with such high debt is hurting students in the long run with jobs, making large purchases and stimulating the economy. The author gathered information from books, articles and studies. Even though she has a degree in Liberal Arts and Sciences. She has done other articles on “School Reform” and “Regulating Credit Cards.” This article is going to work best for people finding out more information on student loan debt and how it is affecting graduates after college. This resource shows a point of view from an educational and government stand point. There is a pie graph that shows what type of loans make up Financial Aid and a bar chart the show the

Youth unemployment, high tuition costs, and the high cost of living in Canada is fueling the rising student debt levels in Canada. In order to pay for their education, students are taking on an average of over $20,000 worth of debt from student loans according to a survey by BMO. Also, the likelihood of students being able to pay off this rising debt after graduation is becoming more impossible. With more and more companies exploiting freshly graduated students with unpaid internships, and high unemployment in Canada, students are often unable to pay off the debt they owe, and are forced to default on the debt and even declare bankruptcy. This is causing financial experts to give a poor financial outlook for Millennials, even going as far to coin this generation of young people as “Generation Screwed”. With this extreme financial stress for students to be taking on, educational institutes should not be adding more stress on top of this with

A major problem that college students and their parents face is student loans, some even believe that this could be a crisis. Student loans are a big issue and are hindering today’s generation and motivation to attend college. Because college graduates can’t pay off these loans, this leaves graduates in debt and the debt delays plans for their future.