Make College More Affordable By Mary Flannery

This report examines the increasing trends in the amount of debt students are graduating with. The purpose of this report is to prove why these trends need to be stopped, and how they can be stopped. After viewing the statistics from 1993 to the present it will be obvious that student debt is not rising at a steady pace, but that its growth is leading to large financial burdens by many students. Recommendations are given about the actions that can be taken by not only students, but everyone to help improve this dire situation. The changes that student loans have been through over the last couple of years will have a lasting effect on current students, prospective students, parents, and those who have graduated and

The United States needs to look to other nations that have figured out the necessity of higher education to be at an affordable cost if not free. In 2015, college graduates are facing on average just north of $35,000 in student debt (Berman). In part, the government has reduced the federal funding that each college receives each year. Therefore, colleges have constantly raised the

There is somewhere between 902 billion dollars and one trillion dollars in total outstanding student debt today, and around 60 percent of college students borrow money annually to pay for their tuition and books (Ghannam). Seven out of 10 seniors (69%) who graduated from public and nonprofit colleges in 2014 had student loan debt, with an average of $28,950 per borrower.

The decision to attend college for most individuals yield promise of advancement in being able to further one’s learning, and assists with developing a marketable educational portfolio from an institution of reputed academia. However, with the pursuit of obtaining a college degree from a university, there are augmented concerns with student loans and repayment issues. In electing to secure a student loan for college, prospective students or parents should realistically, forecast or measure probable (anticipated) student debt. In particularly, with students aspiring to attend college, several organizations or subsidiaries, and for-profit institutions cash in on unknowledgeable hopefuls contributing to the student loan debt dilemma/crisis (or student debt). The college costs and financial constraints for student borrowing, if ill-prepared will substantially effect students in pre-graduate or even post-grad status. The findings suggest that there is eminence of the possibility of default, with repayment behavior which effects long-term financial outlook. In examining the data on cumulative debt, number and characteristics of borrowers, types of institutions, and repayment dynamics there are unsettles that arise in the gest of student borrowing.

Over the last decade student loan debt has risen substantially and is now one of the largest form of personal debt in America, totaling about one trillion dollars, with 71 percent of students who earn a bachelors degree graduating with debt, with the average amount of debt being $29,400.

According to Forbes, the U.S. has 44.2 million borrowers that still have to repay their student loan debts, this is about 8% of the population of the country. Borrowers, as of 2017, have accumulated 1.31 trillion dollars in student loan debt. Student loan debt has increased by 31 billion dollars since 2016. On average, borrowers have $4,920 of student loans debt, and in Florida, the debt per person is $4,480. For some borrowers, this debt puts them into poverty. Student loans are a major problem for the students, but may become a problem for the taxpayers in the U.S. because of recent bill proposals.

Arnold H. Glasow once stated, “Success is simple. Do what's right, the right way, at the right time.” Success comes in multiple forms depending on who you are and what your values consist of. In this article, Why Everyone Shouldn’t Go to College, written by Larry Cuban and reposted in the Washington Post by Valerie Strauss, pontificates on the importance of informing students college doesn’t always equate to success. More than half of college graduates flee into low-paying jobs even with high educational degrees. Cuban sheds some light on the alternatives to make money without spending a ridiculous amount on college. With that said, educating young scholars on the options they possess instead of hiding them, will further increase

There are currently 40 million Americans that have student loans they are still paying off. Along with this 70% of all students graduating with a bachelor 's degree will graduate with debt. If this is not convincing enough look at the class of 2015, they have graduated with

Student loan debt now averages nearly $33,000 per student, and almost 70 percent of students take out student loans. The student loan industry, with over $1.2 trillion in outstanding loans, is now competing with the mortgage industry for the number one spot in highest consumer debt. In fact, many 30-somethings, nearly a decade after college, are still having to choose between buying a home and paying off their student loans.

According to William B. Bradshaw, “that figure is beyond comprehension.” As of January 2, 2018, there is $1.48 trillion in total United States student loan debt, 44.2 million Americans with student loan debt, student loan delinquency rate of 11.2%, and average monthly student loan payment is $351 (A Look at the Shocking Student Loan Debt Statistics for 2018). About half of the students that graduated in 1993-94 with a bachelor’s degree graduated with debt, averaging a little more than $10,000. In 2016, more than two-thirds of college graduates graduated with debt, and their average debt at graduation was about $35,000, tripling in two decades

What do you think of when you hear the words college graduate? Well, in most scenarios, these words would be exciting to someone that just graduated college who have put in years of hard work and dedication to better educate and promote themselves for their future careers. Sadly enough, this is too far common not the case. In today’s society, students are graduating college with piles of debt at an alarming rate. With a troubled economy that is recovering from a recession and jobs difficult to come by for a lot of graduates with bachelor’s degrees, the student loan debt in the United States is bound to be a major crisis that could severely weaken and crimp the economy even more in the coming years.

Now these loans that students take out will backfire in the future. The article “Class of 2013 grads average $35,200 in total debt” states that majority of the college graduates will pay off what they owe with their income of their job. 25% say that their parents or family member is going to help them. 24% will use saving, 21% say they plan on getting a second job. 7% say they don’t ever plan on ever being able to pay off their loans.

To put that number in perspective, it 's almost one fifth of the GDP of the entire world. It 's about the size of the US Debt at the end 2008, meaning we could have paid off the entire debt of our government with the money we lost last year.”

The sheer amount of debt that a college student acquires after they finish their schooling is an egregious sum. The average amount that a borrower owes after they graduate is $26,000 (Denhart). These now excessive amounts of debt are thrust upon graduates, both young and old, and could take several years to pay off. Additionally, the national student debt has increased from $80 billion to $500 billion from 1995 to 2011 ("Student debt"). A young adult, fresh out of school, potentially has few approaches to attempt to decrease a debt of such enormity with perhaps a limited income. While less than 1% of people have loans

The latest studies report that 70% of college graduates leave school with an average student debt of $38,000. Student debt is a large part of the college experience. Most college students will incur debt, but the amount accumulated depends on the degree, choice of university, and lifestyle practiced. There are several key aspects to dealing with student debt: preventing student debt, minimizing the amount of debt, and paying it off.