Pros And Cons Of Student Loan

You do not need to take out a student loan to graduate and attend college. Not for any reason at all. One main reason, debt builds faster than you can blink. It creates interest, and once you graduate you will be working for the next 10 years just to pay it off. The second is you will feel trapped, and you really will be. Once you take out a student loan it builds. For many reasons you will feel like it is okay to continue to take more money out. And you will be building interest every day. You will have 6 months from the time you graduate to start paying them back. What are the chances you’ll find a job in your degree? Or that you will even be making above minimum wage. So Amanda thinks taking a loan is okay, she graduates with $18,000 dollars in debt. She will be working for the next 10 years not spending a dime just to pay it back. Then was college really worth it? You have an okay paying job you figure you can catch up to your student debt and start paying it off quickly creating not much interest. Soon you find it hard not having any money for food or bills or a car. Then you fall behind in your payments. You become depressed and stressed out. Always feeling down like you will never live your life again being able to just go get some ice cream with your friends. It can tear you apart along with your friendships, relationships, ect. Most of all yourself, you start to feel worthless. Some think it is a great idea to take out a loan. They wind up getting a great job or have their parents help pay back the debt. They

She notes that, though a single student’s debt can be as great as one hundred thousand dollars, only about 1% of students are put into that position (130). She also adds a statistic revealing that the average debt is around $27,500 (130). Not only does she use her factual evidence to support her own argument, but to also formulate a rebuttal against Applebaum’s proposition. For example, Webley notes that this solution may cost the government nearly three trillion dollars. However, she does acknowledge that about 670,000 people defend Applebaum’s argument, in order to introduce positive aspects from the other side of the argument

Student loan debt affects college students all over the United States. Today students are having to take out loans in order to pay for all of their college expenses. It can be a pain to deal with the hassle of paying back the loans. The problems with student loans include causing students to go into debt that they are not able to pay them off in the given time which makes them put major life decisions on hold, and the debt stay with the student even through bankruptcy. A solution that would solve these problems is the idea of debt forgiveness which is the idea that the government will get rid of all the loan debt for college graduates.

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

Student loan forgiveness is a terrible idea. Sure, in an idealistic world it would be great if the country could forgive all student loan debt and thus bring relief to all students across the nation. Realistic? Not necessarily! Instead of the fairytale notion of student loan forgiveness being the answer to all the problems, America would fair better in taking the initiative in making reforms to the educational loan system that are a bit more realistic. Student loans are a massive predicament in the U.S. that can no longer be ignored. The Atlantic 311.2 article “The myth of the student-loan crisis(CHARTIST)(Statistical data)” by Allan, Nicole, and Derek Thompson states that to date student loan debt surpasses all other forms of debt with over a one trillion dollars sum (2013). The United States should stop being complacent on an issue that has affected and ruined so many lives and begin finding ways to relieve the proverbial and ever-present menacing “Student Loan” pitfall.

Many students struggle and struggle to pay their loans back, some even into their late fifties. This both our faults and the governments fault. If tuition wasn’t as high we wouldn’t have so much debt, but again it was our choice to sign the papers for a lifetime of paying back the cost of our education. We value education, and that is why we agree to pay as much as we do. We hope to further our education so that somewhere down the line it pays us more than it originally cost. Because the more degrees we have, the better chance we have at a better job. But the government is responsible for raising their prices on tuition. By raising our tuition the teachers got raises on their checks. But sometimes our debt isn’t always worth it, a good amount of students drop out from college each year without finishing their degree but they still have to pay for the classes they took even though it doesn’t benefit them in the end because they have no degree. (Sam Adolphsen, 183)

Here in the United States, there are many forms of consumer debt, which help contribute to the large sums of debt countless Americans find themselves faced with. Directly effecting many college students is student loan debt. Student loan debt is now the second largest form of consumer debt behind housing” declares the Federal Reserve Bank of New York (Grisales). This is due to the fact that student loan debt grew 7.1% in 2014 to $1.2 trillion (Grisales). If this statistic alone is not worrisome this next one is sure to be. The amount of debt in the housing market that helped to spark the last recession was only $1.3 trillion (Grisales). Due to the increased amount of debt required by students to attend college many students are feeling the wrath. According to the U.S. Census Bureau, “In 2014, 11.7 percent of females and 17.7 percent of males between the ages 25 and 34 were living with their parents” (Grisales). The fear of obtaining massive amounts of debt is driving the current generation of student’s to put off many future hopes and dreams. While causing them to move back home to save money. The current student loan crisis is crippling the economy and ruining the lives of American students.

The education correspondent for Time magazine, undergraduate at the University of Washington, concentrating on journalism and political science, and graduate work at Northwestern University, specializing in new media, Kayla Webley, in her essay “Is Forgiving Student Loan Debt a Good Idea?” states Robert Applebaum’s solution for student loan debt is a “radical and wildly unfeasible solution” in both economically and politically. Applebaum’s proposal is to “provide a one-time bailout of student debt…as a way to stimulate the still-limping economy.” However, Webley counters the solution has to have “the purported benefited and fairness of a one-time student loan bailout.”

The education correspondent for Time magazine, and undergraduate at the University of Washington, concentrating on journalism and political science, and the owner of the graduate degree at Northwestern University, specializing in new media, Kayla Webley, in her essay “Is Forgiving Student Loan Debt a Good Idea?” states Robert Applebaum’s solution for student loan debt is a “radical and wildly unfeasible solution" both economically and politically. Applebaum’s proposal is to “provide a one-time bailout of student debt…as a way to stimulate the still-limping economy.” However, Webley counters that the solution has to have “the purported benefited and fairness of a one-time student loan bailout.”

In the U.S. students are encouraged to earn a college degree, but the cost of an education turns many away. “Driven by the allure of a decent salary with a college degree, Americans borrowed to go to school. Outstanding student debt doubled from 2005 to 2010, and by 2012 total student debt in the U.S. economy surpassed $1 trillion” (Mian, Sufi 167). There are plenty of opportunities to obtain funds for college, including one of the most common, student loans. A student loan is defined as “a common way to fund education, specifically college and graduate school, and they provide educational opportunities that you otherwise may not be able to afford” (Barr). Student debt is at an all-time high in America. Over half of all lower income

These fraught students display the future, and it’s not looking too bright. With higher education becoming a progressively distant dream for the average American, heftier loads will be landed upon those who can scarcely afford to reach their aspirations. These students are not simple figures on a statistical report, but they are young people at a point in their lives where they must be aided on the basics and essentials of financial lingo and repayment plans (Rajan, 2014). The liability imposed on the current generation can only be noted as atrocious and sleazy, obstructing any economic growth that might’ve been projected before realizing the trap they have fallen into. Worsening as we speak, The New America Foundation has declared that debt

Mr. Saleh, a vice president for enrollment management, states that students have a legal capability to borrow money, and there is no way that they stop that from occurring. By the same token, Robert Sevier, a senior vice president at Stamats Inc., affirms that over borrowing for college isn’t much different than over borrowing for a home. “People live outside their means” (Sevier 266). On the contrary, Robert Carter, a schoolteacher from Bryan College, is still able to pay off his $30,000 school debt while living on a schoolteacher’s salary. Nevertheless, Mr. Carter says that he is still able to live an American life, using the normal American necessities in life such as cellphones, TV, and car. Mr. Carter realizes that he could have paid less to attend a different college, however he learned a lot from student loans and he feels that he couldn’t have gone anywhere in life if he did otherwise (267).

Chris Lewis and Layla Zaidane explain why Allan and Thompson from the article ‘The Myth of the Student Loan Crisis’ are wrong. Lewis, Chris and Layla explain in their essay, ‘Here’s Your Crisis: Student loan Debt Isn’t a Myth’ that, “six figure calamities are indeed rare, but millions of americans are caught between stubbornly weak labor markets and increasingly costly higher education.”

Student debt in the United States is one of the biggest growing economic threats in our nation today; college students are taking out large loans for four year public, and private colleges and generally cannot pay off the loans until 10 years after they graduate: “Without student loans many cannot attend college, but many students don't pay off loans until 10 years after they graduate, on average for a bachelor's degree it can take up to 21 years to pay off.” (Johnson), which affects the way graduates succeed after they are out. No solution has been found, and many are blind from the issue, Hans Johnson of the Institute of California says:  “Student debt has hurt the employment, and wage prospects

In today’s society, a popular topic of conversation is the never-ending debate over student loan debt and how it can be alleviated. Many people today feel that student loan debt should be paid for in full by the government by completely forgiving these loans. However, this poses many problems. Instead of completely erasing student loans, there are many things the government can do to lessen the burden of the student loan debt that still requires the student to pay back the borrowed loan without forgiveness.