When you make any charges on a line of credit you will be subjected to interest rates that can increase your debts steadily over time. This debt can creep up on you without knowing too.
College tuition is a subject that I am certain is on every college student's mind. The current cost of college has become so outrageously high and so students are graduating college with what you think is a feeling of excitement for their lives starting, when in reality they are entering a pool of stress due to high amounts of debt and no job guarantees. With that being said overly expensive College Tuition is merely taking away opportunities from potential students. According to Collegefactual.com, you will see that 20 years ago the average college tuition for a student at any University was around $6,285 for the room, board, and tuition. Today, according to Niche.com, the average tuition for almost any college is over $30,000 for those same things. Today, this isn't even offered for those same colleges, we don’t even know what is actually causing the raising tuition. At this point in time, we are paying for the name. Just like clothing, we pay more for the “high end” (a.k.a the college name) items. This is an issue that not only affects college students, but people who want a good education. College tuition should be lowered because the average student debt is too high, FAFSA results can be misleading and not high enough, and there is not enough access to college for deserving students.
College students graduate with an average student loan debt of approximately $37000. Of course, that's not the whole story. Millions of college graduates have student loan debts ranging from $50,000 to over $200,000.
Have you ever just stopped to think about what it must be like to be “qualified” for a job yet be unemployed and homeless? Starving on the streets because you paid everything you had to an institution that was supposed to guarantee a better life, a more stable and successful career. Obviously this is an extreme case, not everyone who pays for college ends up living on the streets and broke, but almost every college graduate is in debt. For as long as college has been around it has always meant a better life, it’s always been that people who went to college were more successful, smarter, and would make way more money than someone who didn’t go to college ever would. Lately, however, college has become so expensive that going to college will more than likely leave you in debt working for years upon years just to pay back what you owe and then start making money for yourself.
When we think about college and a college education, it seems as though our first initial thought is the student loans and debt that can result in achieving a college degree. Looking back, student debt has risen drastically and has made it extremely stressful for students and families. Many people go through their entire life in debt, especially from being a student. Student debt has always existed; however, now, it is so extreme, almost all students who attend college find themselves deep in debt, and must continue paying off their debt many years after they graduate. For the past two decades, student debt has risen, illustrating how big this social problem has become. The reason student debt is a significant social problem is because of how much it can effect a person’s life, and their families lives, that can carry over to their future. Although there were many things that led up to and impacted the drastic student debt that is now being faced by many students around the world, the corporation Sallie Mae, was the essential factor in why student debt has skyrocketed to unreasonable proportions. Sallie Mae provided the first type of corporation that changed its focus from helping students, to helping themselves. The history and scope of the student debt can help us understand that the corporation, Sallie Mae, was the main cause of this problem.
Because of the nation’s national rising debt, student loan forgiveness has been a significant topic of debate because of how much it can affect our nation’s debt and doesn’t always help the student. Student loan debt is one of the highest debt causes, but sometimes we forget that we are the ones that sign the line on the contract to be in years of debt. This is because we value our education. But this does not mean that just because we can’t find an amazing, high paying job right out of college that we should have our loans forgiven. We want the easy way out of something that isn’t easy, so why should the government pay for our debt? Yes, college is very expensive and that is the governments fault, but again we are the ones that signed the line on the loan papers. (Sam Adolphsen, 583)
Sometimes a college degree does not pay off as one might hope, and sometimes the competitiveness of certain schools or programs make the cost issue even more prominent. When all is said and done, college might lead to debt and the shattering of dreams. Hence, the resounding question is, “is college worth it?” The answer to this questions is even more daunting for today’s average family and prospective high school graduates.
Paying Down Your Student Loan Debt Tens of millions of Americans owe upwards of a combined $1 trillion in student loan debt. Black families are disproportionately trapped in the student debt mire. Black Enterprise reports that upwards of 40 percent of black families struggle with student loans. Not only do more black families have student loan debt, but they have more of it.
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
The rising cost of tuition has lead to more and more financial problems with students causing them to take out more loans and go deeper in debt. Highscool graduates are skipping college because of the extraneous stress of financial problems that it causes. College is a necessity now a days to get a job, but college is also one of the biggest causes of debt. A college graduate has tons of money in debt but when he graduates he gets a mediocre job that cant keep up with the interest rates on the loans. The problem of student debt will only be solved by loan forgiveness, more financial aid, and students being more educated on loans.
In the United States today, the number of students graduating college with student loan debt is quite astonishing. In the article titled, “How the $1.2 Trillion College Debt Crisis Is Crippling Students, Parents And The Economy”, we will examine and break down the student loan debt crisis by the numbers. Today, almost two-third’s of students graduating college are graduating with an average of $26,000 in debt. For most students, $26,000 is a lot of money when the average annual income for a first year graduate is only in the mid $40,000 a year range. According to the Consumer Financial Protection Bureau, student loan debt has reached a new milestone, crossing the $1.2 trillion mark (Denhart, 2013, Introduction, par. 2). With student loan debt levels
65.7% of college students have to get student loans to pay for college, and the average student loan debt is $19,237 for a graduating senior in the United States according to the National Post Secondary Student Aid Study. This is no surprise considering that the rate of tuition increases 7% per year, and in some of the more prestigious colleges, students will have to pay well into six figures just to get their education. Even in-state rates for South Dakota, which is comparatively very cheap to practically everything else, students are still paying $40,000 for their education when one factors in dorm living and a meal plan. Most students will need to borrow some money on a student loan to get through school, but how does one know if they're
The United States federal system hands out loans left and right to college students. The problem with this is they loan out so much money that sometimes students cannot pay the money back, now they just lost thousands of dollars. Some students that go to college and major in something that clearly doesn’t have many jobs out, isn’t going to be able to pay back their loans. Federal Systems shouldn’t lend out money like this.
College grads are graduating with having student loan debt. Indiana University (IU) created a program to address this problem, student loan debt. What is student loan debt, is it making it hard for student to get out of the debt. Student loan debt is when students would borrow money from the bank in with doing this they would have to pay interest rate. After bank gives the student a six months grace period the student is expected to pay monthly. Students would do this to pay for college. The reason it get hard on students is because they don't have the money to keep paying the loan. If they don't pay it monthly the loan begin to increases, and this is how it becomes harder to pay off.
High school students are often stressed how important college is and how vital it will be for their future, but students often wonder if the thousands of dollars spent to further their education is worth it. According to the New York Times, “Student debt, meanwhile, has topped $1 trillion” (Leonhardt, 2014). Having that much in student debts, often questions individuals attend college or to join the work force right out of college. There are a lot of advantages of attending college as well as disadvantages of attending college. As an individual, you have to be the one to decide if it will be worth it or not. Some may view it is not worth all the debt in the long run, whereas some think it is worth every penny in the end. I have always had strong values when it came to education, therefore I think college is worth every penny.