Mr. President Obam A Major Problem

As it is, there is about $1 trillion in college debt in America. A Philadelphia Enquirer article warns that, “The average debt owed per person is $25,000 -- the highest level of student debt in the nation's history,” and that the number is increased by tens of thousands of dollars for those who go on to get higher degrees. $25,000 is a lot but the reality is that a lot of people have even more than that. For example, what if someone goes to an expensive private college and their tuition is anywhere between 30 and 70 thousand per year. In total they could be paying between 120 and 240 thousand dollars per year. The majority of the country is most likely unable to easily pay for that and could end up with extensive amounts of debt just because they went to the college that they wanted to. Student’s education shouldn’t be compromised just because the school they want to go to has a high tuition. Alarmingly, “Study after study has shown the number one barrier to attending college is the published rate of tuition.”(Lowe) The amount of student debt as a result of a school’s high tuition should decide where people should go to school. If tuition is decreased then simultaneously, student debt would be as well.

An education is one of the most important tools a person can acquire. It gives them the skills and abilities to obtain a job, earn a wage, and then use that wage to better their lives and the lives of their loved ones. However, due to the seemingly exponential increase in the costs of obtaining a college degree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. Without question, the increasing national student loan debt is one of the most pressing economic issues the United States is dealing with, as students who are debt ridden are not able to consume and invest in the economy. Therefore, many politicians and students are calling

Education these days is vital for many job titles. It can become difficult for many people to receive a job without a high school and especially a college education. Most jobs in America, from sales manager to registered nurse and even a construction worker in some cases, require an education past high school. With the cost of college, at average ten thousand dollars at state schools, not accounting for living quarters or even meals, it is leaving many students in large overbearing debt. Many have looked for the solution of this strenuous debt and one of their solution is to make the first two years debt free. By making the first two years of college debt free, it would encourage more people to attend college, expand the educational horizons of our nation, increase employment rates of America, and it could be done without causing a larger debt on America.

College debt has risen significantly since “The Great Recession” in 2009. Due to the high college fees, students are faced with lifelong debt. If the rise continues, only the rich will be able to obtain a higher education, resulting in American education to take several steps backwards instead of improving. Although many have tried to fix college debt problem, it has mostly gone unnoticed. Specifically targeting the nation’s youth, college debt is destroying the chances of the lasting effects on the economy from fully recovering.

After reading about the historic court case of Robert Murphy, an unemployed 65-year-old man fighting to have over $200,000 in student loan debt dismissed through bankruptcy, I began to think “Have I been lied to about my investment in a college education”? Well, the answer is yes; we have all been lied to! Student loan debt is an invisible phantom that follows millions of Americans through their lives. We are told, however, that this invaluable investment is well worth the risk of living in financial destitution for the rest our lives. The truth is it creates even more hardships on Americans in the form of debt. I and millions of others are tired of the lies! If college is going to continuously be America’s golden standard for economic advancement, our next leader needs to fix the affordability of the higher education system and the debt that burdens Americans once and for all.

In recent decades, student loan debt has increased dramatically causing a so-called, “education bubble”. This ‘education bubble’ is essentially the ‘housing bubble’ within higher education. The Federal Government, like those in the housing market crash in 2008, are lending money to those who receive a low income and can not afford college. According to The Weekly Standard, “the Federal Reserve Bank of New York reports that during the past decade, student loan debt has nearly tripled and the number of students with debt has risen by 70 percent” (Cochrane). The Federal Government needs to decrease the amount of loans they are giving out in order to prevent another crash within our economy. As a senior in high school who will not be receiving

Colleges are noticing a drop in students’ interest in a higher education, because it forces them to fall into poverty. Obtaining a higher education is a dream of many working class citizens, but the price to go to a choice college is not available economically. The majority of students use some type of student loan, they have become the norm for attending college (Johnston, Roten 24). College is becoming unaffordable to many lower class students. With tuition prices this high, students are backing out of school and looking for jobs that only require a high school diploma. Student loans should help people, but it is only hurting them because they feel like they can never repay it. Especially since student debt continues to rise. “Student loan debt rose by 328 percent from $241 million in 2003 to $1.08 trillion in 2013, according to the Federal Reserve Bank of New York” (Johnston, Roten 25).

Congress needs to fix student aid. Student debt is on the rise and has doubled since 2007. Stagnant wages and a tough job market have made it difficult for borrowers to repay these debts. Seven million of 40 million students are in default and struggling because of student loans. Seventy-one percent of college seniors graduated with debt in 2012, and they don’t have very many options as to how to get out of student debt

Crippling student debt is stifling the growth of the United States economy because it inhibits graduates from being able to spend money on consumer goods and home purchases. One of the biggest decisions every high school graduate has to face comes at the time of applying to college. Deciding to go, and where to, is going to have a big impact on the student life, and in most cases a big factor for this is money. As an effect of that concern student loans were developed. For many students going to college in the U.S. comes with a very important economic decision.

As decades pass by, obtaining a college degree seems more necessary to get a decent job after graduating. Therefore, high school students feel the pressure to get into a good university and to get the highest degree possible, even when they have no plan on how to pay for it. Financial aid has not kept up with growing tuition prices, and taking out student loans seems almost impossible to avoid. According to research, “About 40 million Americans hold student loans and about 70% of bachelor’s degree recipients graduate with debt.” (Market Watch) The U.S currently has a total of 1.3 trillion dollars of outstanding debt. There is a ton of controversy on how to solve this issue, but there are progressive solutions schools and college kids need

student debt crisis has reached an all time high with debt reaching a total of 1.3 trillion dollars across the United States.With tuition cost increasing,lack of scholarships and unpaid back loans,student debt will continue to increase even higher.The enormous amount of debt put upon each student creates the inability of those students to help the economy grow.Our economy as we know it is a loop and decreasing the student debt significantly will help the economy grow.Instead of putting that money towards the government where it won 't be used to help decrease the student debt as we can see by the total debt, it should go to the community, such as purchasing homes,cars,consumer goods,sales tax which will help improve the economy even more.Crippling student debt is stifling the growth of the U.S. economy because it inhibits graduates from being able to spend money on consumer goods and home purchases. To alleviate this, lenders should be required to forgive student loans in cases where students are unable to repay their debts,decrease a cost of attendance,and increase scholarship opportunities from universities.Doing so would benefit the growth of the economy by increasing tax revenues, unfreezing credit markets, and creating jobs.

Education and school, these both word always has been the main priorities for all of us. Pursuing the American dream of graduating college can be the best feel ever but it can also cost a price. College tuition is increasing more and more every year due to the fact of the rising economy. With student want to be successful in life they will need an education to a degree, which will land you a decent job in life. The problem is when the cost of gaining that degree outweighs the financial advantage to the career. Many of people are not able to pay for college out of their pocket. The result of this is that students seeking higher education are forced to take out an enormous amount of student loans. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all-time high with so many people graduating from college and having difficulties finding jobs in their career fields. So they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.This means that they are entering the workforce after college already thousands of dollars in debt and under water. I believe that students who borrow money from our government should not pay for their student loans.

Obama acknowledges to students that they need to ”Understand, you've got to earn it–you've got to keep your grades up and graduate on time,” when in reality, this is a huge proposal. Students who lacked enthusiasm and contained a faltered idea of educational importance in high school would carry that onto an equally as free college. Students would enroll because of the lack of cost and the feeling of just because they can, instead of enrolling for a greater opportunity. A person expending their own wealth and money into something will always be more motivated than someone that doesn't. This would lead to college being taken for granted when it should be seen as something that will better a person’s life and will take it to the next level. This all would result in a huge societal change as student life and student apathy would decrease the effort a student has on working towards their

In 2016, an accumulation of almost 1.4 trillion dollars of student loan debt was outstanding in America (Kess). Students from all over the nation, and the world for that matter, are going to higher education without the financial ability to do so. One of the few options for financial aid available to these prospective college students is to take out student loans to pay for the high tuition of most universities and colleges. While these loans are a modality for attending higher education, they often come with strings. Along with being several thousand dollars in debt, interest also accumulates into the total amount of the owed financial total. Until these loans are repaid the interest keep accumulating and the debt grows. With debt still affecting students negatively well after they finish their higher education, the price of college tuition should be abated.

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.