Impact of Student Loans

1093 WordsNov 10, 20145 Pages
It is no big secret that, in America today, most high-paying jobs require a college degree. Thomas C. Frohlich of USA Today stated that “graduating from college is a prerequisite for the vast majority of high-paying jobs”(2013). With the cost of a college degree increasing in unison with demand, few can earn a degree without the help of student loans. The American Student Assistance website reports that of the twenty million students enrolled in college, about sixty percent are attending with the help of student loans (2014). Obviously, student loan debt affects the individuals that obtain them. However, it also has severe effects upon the nation’s economy. Recently, CNBC broadcasted a documentary program entitled “Price of…show more content…
As time passed, she was unable to keep up with her college loan payments and got a deferment. Last year, my friend took a higher paying job as a security guard - a job for which she needed no college education. When my friend’s deferment recently ended, she found that she now owed $115,000 due to interest, and that the interest would keep right on accruing until the loan was paid in full. My personal decisions about attending college and how to pay for it were made after a lot of research on my part. I do have student loans, but only in the least amount needed to get my degree. I receive loans in the amount of $3000 per semester and am attending nursing school. Once I obtain my degree and graduate, I will begin seeking a job immediately as a nurse and will earn a minimum of $75,000 per year. I will also be working in a field and for an institution that qualifies for me for a grant that could pay up to 50% of my student loans off. Although I do understand that there is always the risk of not being able to find a job, I think that my research into career options will pay off in the end. All things considered, I think that because of the great demand in field I am planning to work in, and because of help from grants, I will be able to pay back my student loans. I am proud of the decision that I made and think that it will be a beneficial step in my life. I do believe
Open Document