Student loan have been skyrocketing since 2006, and it keeps increasing each year. To make matter worse between 2010 and 2013 student loans rose rapidly, from being 830 billions of dollars to 1 trillions which is not so far from the national debt. In a few years to come student loans might even surpass the national debt. Furthermore the government intends to increase the student loan interest rate from 3.76 percent to 4.45 percent starting this July 1. According to CNBC an undergraduate who borrowed
unaffordable college tuition. It is a place where students from across the nation spend decades of their life paying off student loans (Joseph). According to Marc Joseph, the average American leaves a typical 4-year college with over $37,000 worth of student loans that they have to pay back. To make matters worse, he mentions that if a student goes through any sort of graduate school, they are estimated to leave college with over $160,000 worth of student loans to pay. When accumulated across the nation
take matters into their own hands to attempt to help their fellow Americans understand and pay off students loans. One of these individuals is Tim Ranzetta, the fifth of six children who began saving for his college in high school. After a few office jobs, Ranzetta turned to student loan consulting when his siblings began to try putting their children through college and had trouble. Student loans in America are a confusing and important subject that far too many people are uninformed on, which can
Student Loan Fraud In February, 2017, the United States District Court in Florida entered a final judgement in a civil trial against FastTrain College, a for-profit college chain, for falsifying documents used to defraud the Department of Education of more than $12 million (Office of Inspector General, 2017). The owner, Alejandro Amor, and the school falsified documents to receive federal funding through the Federal Pell Grant Program, the Federal Direct Loan Program, the Federal Family Education
for a little longer. You also ask if you can take out a loan for it and receive a strange look from him and a giggle. “No, unfortunately not” he responses still giggling. Now imagine you are in a financial aid office at the college of your dreams. You ask the financial aid director how deep 4 years will dig into your wallet and again realize you don’t have enough money. You pop the question once more and are surprised to hear they offer loans at “very low” interest rates. They also tell you they can
I live in a small town and all the students I’ve seen that dropped out said how their financial aid didn’t cover their college expenses. I love where I am from but I refuse to go back to Plymouth because my financial aid wouldn’t cover everything. Some reasons and assumptions to why student dropouts are: school isn’t for everybody, the work is too hard or they couldn’t balance out partying and school work. Although there are many explanations as to why students dropout; financial aid issues is the
problem. This education system has to change. We as students need the federal government to find a better way for us to attend school and not have to pay a lot of money for it. Students in this generation are not going to college just because it costs more money than they can spend. The only way the students to go to school would be to get loans, unless they get scholarships. The main issue is the loans that need to be paid back by the college students 6 months after they graduate. This could be a big
mainly provides financial help to students and specific research projects, while state funds primarily pay for the general operations of public institutions, therefore, in the US public college education is controlled mainly by the state government. (Pewtrusts.org, 2017). The United State has been in debate of whether to make higher education free in every state or let it stay as it is now whereby students will have to fund themselves or apply for grants and loans from the government to pay for the
1981 and 1997, is the largest in the United States’ history. According to a 2017 Harvard study, only 31% of Millennials own homes. This could be attributed to numerous factors such as student loans, later marriage, and the housing crisis of 2008. While putting off owning a home has its benefits, there are also several cons that come along with it. Are Millennials unable to attain the “American Dream”, or is the generation simply re-defining it? Certainly, homeownership is a complicated aspect in the
Growing up my mother always told me “you can’t afford a family on a “Dairy Queen” salary. There are multiple pros and cons of a college education such as better a career, with less manual labor, pay, knowledge and career advancement among multiple other opportunities. There are also cons such as the price of college tuition the damage to your credit that comes with unpaid student loans and the amount of time it takes to gain a college degree. I myself think that the benefits of college outweigh