Personal Narrative: High Interest Rates Of Student Loans

Countless people would agree that our country’s young adults continue to incur a lifetime of debt by enrolling in college. In addition, it has become a somewhat understood that when preparing to attend college, one might as well expect to graduate with a monstrous amount of debt. Very valid and life altering problems can arise with student loan debt. Robin Wilson, a reporter for the Chronicle of Higher Education, wrote an article, A Lifetime of Student Debt? Not Likely.

the $2,000 as quickly as possible, and do anything they could to get their 9 year

Student debt has passed over a trillion dollars around the U.S. When students finally graduate from high school they are excited to apply for tuition to attend college. There has been many concerns of students complaining about how college is so expensive. Some students may have the money to pay for college or even a private university. But, the people who are in the middle class don’t find it easy to pay. There is many solutions to the student debt around the U.S. Students can apply for scholarships, complete FAFSA, or they should understand college cost.

Just Graduated makes $2,666.66 every month because he makes $32, 000 a year and there is 12 months in a year. From the $2,666. 66 the Just Graduated must pay $2000 for his rent and other things he needs to buy like food and cloths. Just Graduated will be left with $666.66 and he needs to pay for his student loan, which is $25, 000. Just Graduated is suggested to take $333.33 from his monthly income ($666.66) and pay for his student depth, which will take about 6 and a half years to pay off the student loan (75 months). With the rest of the money ($333.33) he should put $166.66 into a tax free savings account (TFSA) to his home bank or any bank he wishes to put his money into. Just Graduated should put his money into his TFSA because a TFSA is an account that gives tax benefits for saving; Any money that is put into a TFSA will not be taxed no matter what and the Just Graduated will receive a small amount of money for having money in that account. Just Graduated should keep the rest of the $166.66 to do anything he likes (movies, trips and going to parties.). It is recommended he pay off his depth fast as possible because

Most American students desire to have a successful financial life by earning a college degree. Many students realize they can not afford a college education and look to student loans. Unfortunately, the majority of college graduates are unable to find a job in their field so, and they fail to pay the money back on student loans. The question that everyone wants to know is,“ How do we fix the ever-growing student debt crisis? That’s the $ 1.3 trillion question looming over the United States, and there’s no clear answer--or even much of a consensus” (Mcgrath, Forbes). Student loan debt has become a growing crisis because of the ailing economy, high-interest rates, and the overall impact of student loans on a student’s financial future.

People who are uneducated about the lottery look down upon it. Mainly people believe it is nothing but a scam along with an addictive way rush that can drain away all of the players money. Apart from personal enjoyment and hope, lotteries give back and support their communities. Nation wide states need the support of its people before creating a lottery. California’s State Lottery was erected due to the promises of giving back and supporting statewide education. California recently passed a bill stating that eighty seven percent of sales generated through the lottery will go back to the public through prizes and contributions to education – leaving the rest to government expenses. Lotteries are not brought to states for the purposes of cheating and corrupting the people; they are intact to

In the real world there are many people who love their life even if it is filled with hardships. Many people with a lower socio economic status appreciate the little things and are happy with what they have. With that said there are many individuals who think that they need a more stable income or larger nest egg so they look for money by gambling and playing the lottery. Playing “games” like the lottery there are the obvious downsides. Players who don't win the immense prize tend to lose more money than they win but instead of quitting while they are ahead some let the greed take the wheel leading them to failure. If someone wins there have been many cases where the individual lost it all. In 1989, a man named Willie Hurt won $3.1 million in the Michigan lottery. Two years after he won, Hurt ruined his marriage, lost custody of his kids and was charged with attempted murder. Hurt’s lawyer said he spent all of his money on drugs and his divorce.[1] Most ordinary people would not put money before their family but in many cases greed can change the morality of the average family

Have you ever met someone who hates spending money? either it's saving it or spending it everyone relies on it. some people save for school and some people spend it at the lottery. what if there was a way for you to spend at the lottery and for lottery to help you in school. The lottery is a good beneficial for education because, it helps school funding and make more jobs and scholarships.

Receiving this $25,000 would mean a lot to me. It will give me to ability to be able to give back a small portion to help out my parents and others. It would also allow me to put money toward what I desire. I believe I deserve it because of how my parents have raised me, and I know hard work and patience pays off.

“Wow! Is this really happening to me?” Is the first thing that would be running through my head as I process the fact that I have won the lottery. Not only will I be completely stress free from thinking of having to be in college debt, but this life changing experience will keep me motivated to continue gaining more knowledge during my upcoming four years. I believe education is an important key for success in my future and the last thing I would want to stress on is the amount of money I will need to pay off for however long I decide to exceed on my education.

A 40 year old man wakes up one morning seeing that his kids are about to start the middle years of schooling. He is concerned about their well-being and their fiances. That man isn’t able to afford everything for his kids like a lot of other parents. Every month he sees another bill he has to pay. Student Loans! He has been paying for his student loans since he graduated nearly 20 years ago. On the outside that man is a happy man, but he is frustrated and angry that he took on such a load. He graduated making not exactly the highest salary, but he feels he shouldn’t have accumulated so much debt. His eyes tears up when he lets down his kids when they want to do something, yet he simply cannot afford it. This problem is far too common for college

Today 's typical college student graduates with over $20,000 in student loan debt. Unless that student sticks to a rapid repayment program, he can expect to pay thousands more in interest over the course of a 10-year repayment term. Although student loans are considered "good debt," the combined cost of interest, penalties and deferment fees can actually exceed the cost of an entire college semester. It is not easy to pay off student loans quickly, but it is definitely manageable. You can repay your student loans in as little as one year as long as you work hard, stay focused and follow these steps: 1. Commit to a rapid repayment plan. If your student loan bills are $200 per month, force yourself to pay at least double that. 2. Make a

Knowing how children can be sometimes and not understanding finances, I would have left my child at home and picked the backpack I could afford and brought it home to her.

The first thing the lottery winner should do is to to do is take a deep breath and settle down. Sign the back of your winning ticket. Take a close candid photograph

I decided to put one thousand dollars each in the character’s retirement and paying off debts.