In Richard Vedder’s “Forgive Student Loans?” he clearly shows support to his thesis, his tone helps the audience feel as he does, although, at times his tone felt too angered he was still able to convey his message. His purpose for this essay was to reach Wall Street protesters and show them why they're wrong. He used a lot of evidence that supported his idea that student loans shouldn’t be forgiven. For example, “The Wall Street protesters argue that if debt-burdened young persons were free of this albatross, they would start spending more on goods and services, stimulating employment. Yet we demonstrated with stimulus packages in 2008 and 2009 (not to mention the 1930s, Japan in the 1990s, etc.) that giving people more money to spend will
Robin Wilson argues the the assumption that withdrawing student loans will potentially lead you to repay them for the rest of your life. In her piece “A Lifetime of Student Debt? Not Likely” Wilson mentions many stories from fellow colleagues regarding student loans. “Ms. Mccosker is among the silent majority of borrowers who are repaying their student loans without much complaint” (Wilson 259). Wilson gives plenty examples from students that are content paying their loan after they obtained the degree. If a student goes to college, proceeds and withdrawals student loans, finishes school and gets an amazing job with the degree she obtained with a loan: wouldn't they be right even though she owes payment on a loan? The topic then shifts to
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.
Author Kayla Webley writes the article title "Is Forgiving Student Loan Debt a Good Idea", on page 129. It is about whether student debt should be paid back by students or forgiven by the government. Student loan forgiveness has become a topic of conversation lately. Kayla Webley shares her kindness and her compassion to the public on behalf of the college graduates to hold some appeal against forgiven student loans debt. She writes this essay because of a comment posted on her Facebook wall "Urging the government to forgive all student debt"(129) and related stories and because she was in support of the student load debt forgiveness.
In her essay “Is Forgiving Student Loan Debt a Good Idea,” Kayla Webley argues that forgiving debt could be a bad idea. Her article was exceptionally influential in demonstrating the way that the payment would put the nation in a bad position. It would send the wrong message to individuals who attended a university and the individuals who didn’t. Webley touched on Robert Applebaum’s petition to provide a one-time bailout of student loan debt.
Gillian B. White’s article “Even With Debt, College Still Pays Off” is a worthy example of a well written, thesis titled article using reliable sources. Her article exemplifies the criteria of what makes a source respectable.
Alan Collinge did not mean to become the poster child for student loan debt injustice. He was an average American with an average American 's plan: get a student loan, go to school, get a good job, pay off student loan, get married, get house with white picket fence, have kids and grandkids, and die happy. After attaining three degrees in aerospace engineering, Collinge was left with a debt of approximately $50,000. He went to work at Caltech in 1998, and made a poor to middling salary of $35,000 a year. And, he began to repay his student loans. One day, Collinge realized he was going to be short a payment, called the bank to let them know, and was assured that everything was going to be fine. He continued his payments the next month, only now he was receiving statements that every payment he made after that one shorted payment had a late charge attached to it. When Collinge called to have the error rectified, he found out that 1) he did not have a federal student loan, but a loan through a for-profit company and, 2) the company was not going to remove the late charges. This was the tip of a very large iceberg that was about to sink Collinge 's life plan, and the beginning of a story that is all too common among American college graduates, especially since 9/11. It turns out, debt is big business, and corporations have former students by the purse strings.
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.”
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.
In the article “Is forgiving student loan debt a good idea” by Kayla Webley, a writer for Time, Webley feels that from a human standpoint forgiving student debt holds some appeal (2). Kayla Webley refers to Robert Applebaum who started a petition in 2009 with a petition of nearly 670,000 signatures. The comments from persons posting the petition are quoted as “guessing this will never happen but it can’t hurt to sign on” (1). Burdened with an estimated $88,000 in debt, Applebaum’s proposal is to provide a one-time bailout, of student loan debt-as a way to stimulate the still limp economy (2). Webley goes on to explain that such a plan has a problem. The problem being is that with an educational bailout most borrowers who can and should pay off their student loan would take this bailout, along with the students who really can not afford their loan payments and need the relief from their student loans. In Webley’s words “If forgiveness from a bailout was offered, who wouldn’t take the handout (3).
Many people would love to have their student loans debt forgive but do not believe it will happen. So Kayla Webley decided to write an article about student loan forgiveness, at the time Webley wrote the article she was the education correspondent for Time magazine. Now she is currently a staff writer for the same magazine. In her article, she claims that the student loan dilemma that is facing a lot of Americans is a problem for your country and needs to be addressed, but the current idea for solutions is not feasible and new ideas need to be raised. In her article, she argues against solutions people have put forward and also counter argue the claims they make in their solutions.
Does the amount of student loan debt have an effect on the economy? If so would forgiving student loan debt help lower the national debt or would it just increase it? According to Mary Claire Fischer, a writer for Kiplinger’s Personal Finance magazine, “two-thirds of students who receive bachelor’s degrees leave college with debt in tow” (Fischer). Among these students, the average amount owed is twenty-six thousand dollars (Fischer). There is a six month grace period after graduation to allow the student time to find a job and programs to try to help eliminate debt. “The Consumer Financial Protection Bureau estimates that one-fourth of the American workforce may be eligible for repayment or loan forgiveness programs” (Atteberry). The
Does the amount of student loan debt have an effect on the economy? If so would forgiving student loan debt help lower the national debt or would it just increase it? According to Mary Claire Fischer, a writer for Kiplinger’s Personal Finance magazine, “two-thirds of students who receive bachelor’s degrees leave college with an average debt of twenty-six thousand dollars” (Fischer). This means that the average student debt has doubled since 2007 (Ross 24). The total student loan debt is $1.2 trillion with $1 trillion being from federal student loans (Denhart). This debt accounts for six percent of our nation’s $16.7 trillion debt (Denhart). Since student loan debt is such a big part of the national debt, if the student
Most students do not make enough money to be able to pay for college debt free. In addition, most families don’t make enough money to pay for the college costs upfront. For this reason, students have been borrowing money from private loans to be able to attend a college/university. Although the government might give several students, who apply, money to pay for books and housing, it does not cover the total cost to attend college and obtain a degree. This might not be encouraging for students who wish to receive an education but do not want to owe money in the future. Loans have been scaring off students who wish to further their education and live their lives comfortably after college. If student loans were to be forgiven, graduates would not have to worry about owing a large amount of money.
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 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.