Federal Scholarships Benefits

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

For many, student loans are the only way to finance one’s education. Paying out of pocket simply isn’t a reality for most, so they rely on state and national government to provide them the funds to attend school, buy textbooks, and even pay for room and board. Sign on the dotted line, and suddenly a subsidized or unsubsidized loan shows up as a credit on your student account. Any overage is paid to you by check to cover

Before we can go any further, we need to first define what exactly a student loan is, and what student loans can entail. A student loan is defined as “A type of loan designed to help students pay for post-secondary education and the associated fees”. Student loans are marvelous and a supportive tool for college students, but people don't realize that everything they borrow needs to be paid back with interest. Five years ago in 2012 “71%” of students graduating four-year colleges had student loans and the average indebtedness of a college graduate was “$29,400”. If you compare that to 1993 the average indebtedness of a college graduate was “$9,450” (Average Student Loan Debt, 1993-2012). In only 19 years there was a $19,950 dollar difference in the averages. Those numbers do not include the interest that the student will have to pay back over time. All of those factors are just a small part of what makes up student debt but it is good to have a general

College tuition prices are rising and so is the amount of student loan debt. To many students getting a good education to start off their future is very important. With the rising prices of college tuition, often many students have to get a student loan in order to pay their way through college. Student loans are there to help one out, but can become a huge burden to one. Although student loans come with a lot of responsibility, if one plans a way to pay it off the loan can be very helpful and stress free.

Students are taken advantage of with student loans. Most students cannot afford to go to college and turn to student loans. Usually this is a combination of the students, parents, and financial aids ideas and problem solving in order to afford the schooling at the university or college of choice. The student is the one who signs the agreement that they will pay off the loan. Most students do not read the booklet that you have to read before signing, and most also do not read the small print. Both of these pieces of literature include the interest rates that constitute the bill that the student will have to pay in the future. Students do not read these because they are just so excited to be able to go to college and not have to worry about paying all of it during their schooling.

Student Loan is designed to help students pay for University tuition, books, and living expenses. Student Loan Debt money owed on a loan taken out to pay for educational expenses. Rapidly rising college tuition costs have made student debt the only option to pay for college for many students. I think this is very important because it raises awareness for all college students and post college students looking to use their degrees that they have earned. We have a problem in this country of student loan debt. It is keeping students from being able to live out their dreams and holding many students back after college.

The student loan is not a myth. The student loan is amount of money that a student borrows from a bank to pay for their college education. However, paying back the loan is not easy; therefore, student loans have become a crisis. The student loan crisis is not a myth because students cannot afford to pay for their education, college students are struggling to pay back their loans, and college education has gotten expensive over the years.

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

Student loans can be a resource part of our culture capital. Student loans are widely used in the United States. For the project, student loans were explained more in depth. It is important to understand some key terms and what they mean for student loans. When students are thinking about furthering their education they need to know the different from a grant, scholarship, work-study, and the two types of loans that come with federal funds. Direct subsidized loans are based on financial need and the interest is paid by the board of education. Direct unsubsidized loans are not based on financial need, but the student will need to pay the interest rate while attending school.

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:

Just how bad are college students in debt in the Unites States? In the United States student debt is completely out of control but more serious for vulnerable groups. A student loan is arranged to help students pay for colleges tuition, books, and living expenses. If you apply for financial aid, you may be offered loans as part of your school’s financial aid offer. A loan is money you borrow and must pay back.

The fundamental purpose of student loans is to assist borrowers who may not have the resources to finance their educations. With the rising cost of tuition to get a college degree, you will most likely need a loan.'' Student loan indebtedness totaled $994 billion dollars and accounted for 9 percent of all outstanding debt" (Brenda Beauchamp and Jason R. Cooper 540). Students under the current debt market are permitted to borrow more than they can

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.

LOANS - borrowed money that has to be paid back over a period of time, after the student ceases to be less than a halftime student. Loans offered at:

If an aspiring college student doesn’t have the necessary funds to attend school, there is another option they could use to pay for school. Student loans are a popular choice so that the student can pay for school. While this may seem like a great option for affording school, it can be a devil in disguise for many. The New York Times reports that Americans owe over 1.4 trillion dollars in student loan debt (Kelly 1). This happens when a college student takes loans with the belief that the college degree they get will help them achieve a higher salary which will in turn will help them pay off their debt. This often isn’t the case. A student takes the loans and attends school, but does not receive the salary that they were hoping to acquire from attending school. A standard payment plan for students is to pay off their debt in ten years, but according to a study conducted by US News, the average bachelor degree holder takes twenty-one years to pay off (Bidwell 1). This is a common occurrence as well, a report conducted by The Institute for Collee Access and Success shows that in 2012, seventy-one percent of college graduates had student debt (Serrato 1). The current system that the government offers to help those struggling to afford a secondary education is a flawed program that needs restructuring.