A Great Balancing Act

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

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

As many would be led to believe, student debt affects the vast majority of young people in this country. According to Daniels, seventy percent of students who have recently graduated are now considered to be under the category of borrowers (2015). In relation to the population, that is a total of forty million people (Daniels, 2015). Unfortunately, many of these students are reaching the point of possibly defaulting on the loans they have accumulated (Daniels, 2015). Although students are now being educated about being very careful when taking out loans, many do not have a choice. Student debt seems like a nonstop revolving door for us young people. The sum of the student loan debt that the population of forty million Americans has is a total of $1.2 trillion in college debt (Student-loan debacle, 2014).

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:

The cost of getting a college education has risen over the past three decades. Comparing it to the housing and medical care markets, it has risen considerably more than them. The current student loan debt, has risen to an astonishing $1.2 trillion dollars, the largest ever recorded. Student loans are just now a burden on our society, yet no one is surprised about the amount of debt the students are in. Yet is is extremely

Since tuition rates are increasing, student loans are becoming something that is simply a part of becoming a college student. It is almost expected that going to college means having an unimaginable amount of student loans. The reason that this stereotype exists is because it seems to be true. Between 2005 and 2011, the amount of federal student loans for private school students increased by 84.3 billion dollars. The other issue with increasing prices pushing for the acceptance of more loans can be said to be derived from ignorance. The Consumer Financial Protection Bureau says that, in 2012, many students most likely lacked the understanding necessary for deciphering

When starting college every student makes a very important decision. Whether if they want to get financial aid or to pay the money up front. Having college debt will not only ruin their credit, but he or she may also have to pay off their tuition for the rest of their life. Research says, “According to the College Board, which tracks students’ financing of higher education, undergraduate students in 2013 through 2014 borrowed in the aggregate nearly $63 billion and received $33.7 billion in Pell grants.” By this quote from “Debt, Merit, and Equity in Higher Education Access” it clearly shows the effects College Debt has on their society but, also on their future. Every paycheck they receive, a small portion goes toward paying their college the same college they finished years ago. It’s not worth paying at least one hundred fifty dollars every check when it could have been paid all together. However, many may not have the same opportunities as others.

In the year 2007, 18.2 million students enrolled into college. About thirty-nine percent of those students were between the ages of eighteen to twenty-four (Marcus). College is seen as something one must do to be able to have a successful life or career. Student debt is almost guaranteed for anyone that goes into college. Seventy percent of bachelor's degree recipients graduate with student debt. Student loans in just the U.S. alone are up to 1.2 trillion dollars, this is the second highest level of consumer debt, just trailing behind mortgages (Snyder). Student debt has been an issue for anyone thinking about going into, that is attending, and graduating or leaving college. How to solve this issue is very simple, which is to save money, lower

Many college students face this same struggle of deciding the rest of their future right out of high school. Unfortunately, freshman college students are under educated about their finances and tend to over borrow when they come to college. Student loan debt is a major problem in America that could easily be fixed by educating students before they are allowed to borrow large sums of money.

In less than a decade the loan debt has increased tremendously by 56% and there will be a greater increase as the years go by. According to The Institute for College Access & Success they found out that at least 70% of students graduate with a loan debt of at least $28,000. The average median income household earns $56,000 in a yearly salary, however, a low income family of four only makes $24,000 a year. According to the college board it cost $17,000 a year which covers tuition, fees, room. For many students that is almost impossible to pay because they have other expenses to pay besides school.

With the heavy push to secure a college degree combined with the rapidly-increasing cost of college, families are facing one of the toughest decisions of their lives: How to pay for college without being buried in student loan debt. As a college student, there’s no doubt you may end up with student debt. Almost all college students will receive some form of student loan during their college career. This year’s college graduates are leaving school with an average of $37,172 in student loans – up from $35,000 last year. Many students and families are searching for solutions to avoid becoming part of the crisis.

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

According to “DoSomething”, 1.5 million students drop out of high school a year. That’s 7,000 students a day! Also, around 25% of high school freshmen fail to graduate high school on time. The students that do take the opportunity to excel in free public education have to stress out about colleges, checking the requirements of the college, the tuition, taking out student loans or applying for scholarships, etc. According to “usnews”, the average student loan is $28,000. It usually takes an average bachelor degree holder to pay off the loan in 20 years. n 20 years they also have additional things to pay off such as house mortgages, car loans, etc… A survey was taken 49% of the former college students reconsider attending or completing college because of the impact of student loan debt. Even though America is a place full of wonderful educational opportunities, the truth is that not all students take advantage of it. Even if they do, when they take higher education the average student ends up drowning in

Imagine dreaming of going to college your whole life. You’ve wanted to be a doctor your entire life and nothing could stop you from achieving that dream except…. financial problems. You apply for student loans and receive them. You are extremely excited about college and the money you have been given until it comes time to pay it back. It is a financial train wreck and you are struggling paycheck to paycheck just so you can have the job you always wanted. But, now that you have that job you are stuck paying back loans and sitting on a pile of debt. Student loan debt is a major problem that is increasing as you read this. The average student loan debt for a 2016 college graduate is 37,172 dollars. The United States alone has over 1.26 trillion

A person needs to achieve certain goals in one's life before you can call them successful. Success is to achieve goals, you have set. I have set certain goals I would like to achieve in my lifetime. Some of these goals are personal while others are professional. My professional goals in life are to find a good job that makes me happy, get a good education, find a job that makes enough money for me to support my family, and help people. Goals it is very important for me to receive a good education. Most job fields require a descent education. If I don't have an education I would not be able to function properly at the work place and I would not understand what to do. To maintain a good job that will make good money will require me to go