Ethical Issues In Debt

There is a widespread concern about rising levels of debt. Debt can become disastrous for those who live alone or those families who are already having problems with supporting their family. The people who might be struck by debt, they might have trouble recovering. Debt can cause Americans to lose their homes and stability they need to feed, and shelter their families. Although debt comes upon us Americans quickly, people can see debt as terrible thing to be stuck with. It has many disadvantages that can devastate to people.

The “Money as Debt” was created by Paul Grignon in 2006. It is the most fascinating video I have ever seen. Moreover, I am just amazed how much I have learned in just 47 minutes. This video describes how basic banking system works and answers the question where the money comes from.

Three different articles discuss student debt in different ways. The articles Burke and Huffington Post focus on the problems of student debt whereas Greenblatt focuses on the solutions to student debt.

The presidential race is now consuming America. It is mentioned every morning in the news and in every “scroll” through social media. While important topics such a national security, national debt, and international affairs are brought up constantly in the debate spotlight, higher education is a topic less discussed. However, each presidential candidate has a specific, strategic plan to tackle current issues in higher education. The main issue that candidates believe should be addressed includes college costs and how they impact student debt. Each candidate has a different stance on the issue, and each have a plan to move toward solving the issue. This review will cover the current issue of student debt and how that is impacting America, each presidential candidates strategic plan to tackle this issue, a critique of each presidential candidate’s plan, and a reflection of solutions presented. Each candidate running for the 2016 presidency deserves full recognition, this review will focus on the two leading presidential candidates: Hillary Clinton and Donald Trump.

College is where you go to get higher sources of education. Many high school students dream of attending college in order to attain more knowledge, yet so many people fail to realize the cost of college. Attending college, currently, is nearly impossible to do without being in some sort of financial debt or seeking out government help. According to the American Association of University Professors, “two-thirds of American college students graduate with substantial debt, averaging nearly $30,000 (if one includes charge cards) in 2008 and rising.” (AAUP, 2012) Although going to college is beneficial, there is an argument on whether or not going to college is worth the possible debt incurred. The goal

In his Op-Ed article “The Culture of Debt”, David Brooks, an Op-Ed columnist for The New York Times, sheds light on the bigger picture of debt in the nation today and compares three major theories surrounding the question of who is to blame for Diane McLeod’s plummet into indebtedness.

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.

No institution is perfect, not even Normandale, though it is better than most other community colleges, it still has its problems. Some are minor and short term like a shortage of parking spaces, but others are long term or even crippling to students financial future. The most prominent example of this is student debt. Normandale is far from the only college with this problem, almost every college in America faces this issue. Student debt is hard to avoid with 71% of students that have graduated from a four year program have an average of $29,400 in student debt in 2012 ("Average Student Loan Debt, 1993-2012." Pg.1). Student debt is a major problem that affects most young Americans, but it could be fixed with government funding of community colleges and increased regulation of for profit schools.

Debt serves as a huge stress factor amongst many individuals within America’s society. Student loans have a tremendous impact on younger individual’s lives and can affect their futures as well. Many individuals are unable to live normal lives, and are rather trapped with debt serving as a burden on their shoulders. Student loans affect about thirty-seven percent of individuals in America. For many students financial aid or private loans are the only source of payments for a higher education. Student debt inhibits graduates from spending money on personal items and consumer goods. In order to diminish this, lenders should be required to forgive student loans if students are unable to repay their debt through no fault of their own.

Countries around the world are facing a dramatic recession, which is forcing them to spend capital they do not have. There are few sovereign states immune to the financial deficit that seems to even plague world super powers, such as The United States. This is unnerving due to the power and influence that the United States holds on the world stage. No matter how frugal the future budget may be and regardless of future financial success how will the United States overcome a deficit of 14.7 trillion dollars? Regarding this harsh reality there are two factions, one which believes the deficit is a necessary evil. The other believing that a deficit so large can be nothing but malignant to the contentment of the American common welfare. The

The whole article stated to be about how “educators and practitioners shouldn't place value judgment on students’ attitudes about debt, instead use model as a tool for understanding student’s holistically in their financial decisions.” the article should have gotten more in depth on how different races, genders, and social classes viewed debt because that is a big part of people's’ judgement. if they went into depth on how each of these views have the same ideas about debt, it might increase the argument’s point. The reason it would back it up better is because the author mentions that they should “understand students holistically” which would account for the student as a whole. If he were to prove that race, gender and social class didn't

While those who conform may feel regret because they did not follow their own path and finally do what they always wanted to do. This might also make those who conform empty because in the end when they look back on life they might start to realize that they have lived the life of a cog meaning that they led an ordinary life their whole life. While those who conform might feel unique and enlightened no matter the consequence.

     The documentary Life and Debt portrays a true example of the impact economic globalization can have on a developing country. When most Americans think about Jamaica, we think about the beautiful beaches, warm weather, and friendly people that make it a fabulous vacation spot. This movie shows the place in a different light, by showing a pressuring problem of debt. The everyday survival of many Jamaicans is based on the economic decisions of the United States and other powerful foreign countries.

According to the IRS, a recourse debt holds the borrower personally liable. Thus, with recourse debt the lenders are allowed to hold the debtor accountable for any unpaid balance even after they have taken collateral (property that can be accessed by the lender in the event that the borrower goes in debt and fails to pay back the money that they borrowed). For example, a borrower might secure a personal loan for $500 by pledging a cellphone. If the borrower defaults, the lender can sell the cellphone to recover as much of the outstanding debt as possible. But if the cellphone only sells for $300, the lender may collect the unpaid balance of $200 by garnishing wages or levying the borrowers bank account in order to collect what is owed. Whereas,

Jamaica is not just white sand beaches and mimosas. Behind the thin veil of paradise lurk corruption, violence, and inequalities. Life & Debt illustrates the daily realties of Jamaica following IMF structural adjustment programs. IMF reforms have perpetuated a cycle of debt that Jamaicans have little hope to escape. Although IMF conditionality claims to develop nations so that they can grow and re-pay their lenders, Jamaica is still indebted $4.5 billion dollars and has little development to show for it. Measures of austerity coupled with devaluation, high interest rates, and drops in local wages results in greater unemployment, increased violence, and widening inequality. The bulk of the film focuses on how global integration has undercut