Money: Why College Debt Is Worth It

One of the biggest overall benefits of having a college education to some degree after a high school diploma is the most obvious: the considerably higher pay rate that is available for those careers that often times require a degree. It’s a common misconception that big amounts of money will just come pouring in after they walk across the stage with their degree, however, the real benefits start stacking up you begin to pay off student loans and the are now being employed in a career within your degree specifications. A study done by Georgetown University proved that graduates from college “earn $1 million more in earnings over their lifetime” as compared to those who only had a high school diploma (Cornerstone). As well as that, another study done by the Pew Research Center found that in 2012, there was a HUGE average yearly income gap “between high school and college graduates” of around $17,500

One of the most difficult parts of college is paying it off. It is crucial to have the least amount of college debt as possible so one is able to live their life without worry of having to pay it off for years and years. Living in a house hold with a single mother can be difficult when it comes to expenses. With less money a key part of being able to pay off college is by saving money.

I feel that college is a no brainer. You should always try to go to college if the opportunity presents itself. And even if it doesn’t, there are other solutions such as community college, etc. Also, looking at the data, college graduates clearly make more than those who don’t go to college. Even though the wages haven’t risen and the cost of living has, going to college will still provide you with a higher paying job in today’s expensive and competitive economy. Not going to college will only hurt you because you have less of a chance to find a high paying job. Your best bet is to invest in achieving a college degree. Education is always the basis for an economic solution, especially with the economic problems regarding our generation

The main reason for this is simple: the amount of graduates is increasing faster than the amount of jobs. According to the American Census Bureau, the number of Americans under the age of twenty-five with at least a bachelor’s degree has risen thirty-eight percent since 2000 and the job market is not even close to accommodating all of these young graduates. With government policies giving incentives to increase the amount of degrees given and people like Ohio State University President E. Gordon Gee saying that having fewer graduates risks “the very foundation of the American Dream,” it is easy to see where the problem stems. Graduating college is no longer an accomplishment powered through ambition; it is a chore. It’s almost socially unacceptable to not go to college now that more than forty percent of adults in America have a college degree according to the Washington Post. This pressure exerted on students leads to many people having degrees that never needed them, but now those people have debts to pay. The really nasty thing is, only certain majors make the money needed to pay off such debts.

People expect students to educate themselves and go to college. However, college now a days is not worth the cost because of social changes, the increase in inflation and bankruptcy. Not attending college might make some people’s lives easier because they can just find a job without a degree.

college is great oppurtunity for some people. Here are the reasons why it has amazing oppurtunities, helps you choose an occupation, and it is worth the cost.

“College is part of the American Dream, it shouldn’t be a part of a financial nightmare for families” - Barbara Mikulski, United States Senator. Student debt is a rising issue in America; 43.3 million students are in debt at this moment, and this number increases every year. In other developed countries, education is free or low cost and works well economically. Countries like Germany, Sweden, Australia, Denmark, and France have extremely affordable college tuition, so what do these countries do to make education so affordable? What do American politicians and citizens find wrong with free or lower cost college education? How should America go about solving this issue and follow other countries footsteps? Just how bad is America’s student debt

In this unimaginable generation, we face many challenges to survive, but one challenge that is prevalent is student college debt intertwined with the expensive economy. The idea that a better and furthered education will bring you more success is why millions even make college loans an option. It is believed, that the two elements of education and employment coincide with one another. The idea of being employed is a necessity in modern day. There is a focus on getting an education to determine your success. Although attending school is appreciable, it also comes with its issues that make college appear as a trap; incognito in a sense. Dragging everyone down slowly like a leaf in quicksand. Young adults struggle with college debt, and financial barriers; by avoiding the economy’s false luxuries can prevent the occurrence of running into economic barricades.

Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans. Many students expect to immediately get a job after graduation, however, in more recent years the chances for college graduates to get a well paying job

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

After finishing high school people go through a dilemma on whether or not they want to continue their education. They could either go to college or begin working as just a highschool graduate. Going to college is a necessity. College takes four years and maybe another four years of studying. They is very little in comparison to an average 80 year lifetime. That’s not much time at all! College costs $20,000 - $30,000, college is like putting an investment into yourself and in hope that you’ll prosper and get a deserving career. Many jobs require special skills and that’s where college degrees come in. College brings many job opportunities, whether it be flexible or just high paying. Debt could easily be payed off if college is completed because of the better income.

Is getting a college education worth going into debt? That is a good question and one that I say yes to. There are many reasons to go to college, such as getting that high quality education to go further in the job you currently have, or to get an new job all together. Another reason could be to become a good role model for your kids, or just so you can proudly say you were the first in your family to go and graduate to college. Another reason could be that you simply go because everyone else in your family has been. Whatever the reason, there are definitely benefits to going into debt in order to go to college, because it has almost become necessary to have a college degree to have a good job.

Sometime I wonder can we have rectify to fix each colleges to change their policies forgive the opinions for finance to all the college students’ debt if we can change different ways to fix to afford to go to college with less stress about their economy and more time to have time to study better? Five ways to able to have opinions to choose for their college debt to solutions if a finance counselor change their rules of the policy.

With the news of the now infamous ITT Tech closing its doors last week, the millions of students undertaking financial loans for this fall semester have something to reconsider outside of the classroom. Student loan forgiveness has become an increasingly contentious topic over the past few years, most notably as being the crux of Bernie Sanders’, and now of course, Hillary Clinton’s, presidential campaigns, as can be noted from Clinton’s Democratic National Convention speech this past July in which she promised, “to make college tuition-free for the middle class and debt-free for all!”(McCaskill). While there is concern to be had with the recent unfurling of predatory for-profit colleges, more important is the need to shift our focus away from emotional appeals and towards President Obama’s policies that have led to this unfortunate situation before it becomes an irreparable failure.

A four-year degree costs students “more than $19,000” (Stieger), and in this day and age it is nearly impossible to survive with only a high school education; being well qualified for a specific career position is very important to employers. George Leef, author of “Why on Earth Do We Have a ‘Student Loan Crisis’?,” says it best when he states that “college graduates are somewhat more reliable and easily trained than people with only high school diplomas … if there is a large enough number of [people] with college degrees, employers don’t have to bother with people who don’t have them” (Leef 29). That being said, I wonder how young people are expected to obtain some sort of degree, when higher education is nearly impossible for some families to afford. Although very significant changes have been made by our government offering improved financial aid to current and future students, more can still be done. Our politicians could increase the Pell Grant maximum to coincide with rising tuition costs, increase taxes on irrelevant goods and services to provide students with more direct funding, set up a “reward system” that would place more responsibility on the students (rather than themselves), and most importantly, our two main parties in office need to agree on specific changes.