Satire : A College Degree A Step Up The Economic Ladder, Or Your First Step Into Debt?

While this is often true, it can create problems when a student does not have the money to pay for a quality education. The cost of college has risen an estimated 250-500% over the last 30 years while consumer price index has only increased by 115 percent during the same time frame (White, 2015; Eskow, 2014). The amount of student loan debt is increasing, along with the cost of college. The income of many young people today cannot keep up with the rising costs of college education and housing. Part of the problem with student loan debt begins when students choose to attend a college that exceeds their financial resources and rely on federal student loans as well as private student loans to make up the difference. Eskow found that even public colleges and universities are becoming difficult to pay for without taking out student loans often averaging $30,000 for tuition, room, and board (2014). Since many people do not have enough money to cover college education expenses, they rely on student loans, both federal and private, to fill the gap. Financial advisor Ramsey stated that often the loans students take out pay “for an off-campus standard of living, and no debt was needed to get the degree” (2013). “The Project on Student Debt reported in 2013 over ⅔ graduating seniors were leaving school with student loans” averaging approximately $28,400 (White, 2015). Taking on almost $30,000 in debt before even starting a career can have a significant impact. It can force people to get a job just to pay off the student loans, not based on what they got an education for prepared for or what they studied. This also can cause a setback in future plans, having to delay many adult milestones due to lack of

As it is, there is about $1 trillion in college debt in America. A Philadelphia Enquirer article warns that, “The average debt owed per person is $25,000 -- the highest level of student debt in the nation's history,” and that the number is increased by tens of thousands of dollars for those who go on to get higher degrees. $25,000 is a lot but the reality is that a lot of people have even more than that. For example, what if someone goes to an expensive private college and their tuition is anywhere between 30 and 70 thousand per year. In total they could be paying between 120 and 240 thousand dollars per year. The majority of the country is most likely unable to easily pay for that and could end up with extensive amounts of debt just because they went to the college that they wanted to. Student’s education shouldn’t be compromised just because the school they want to go to has a high tuition. Alarmingly, “Study after study has shown the number one barrier to attending college is the published rate of tuition.”(Lowe) The amount of student debt as a result of a school’s high tuition should decide where people should go to school. If tuition is decreased then simultaneously, student debt would be as well.

On graduation day, do you focus on being happy? Thinking that you are done and forgetting about how much student debt you have? Nate Beeler, the artist of the cartoon “Graduation Selfie” captures how that exciting day truly is. Beeler is an editorial cartoonist for the Columbus Dispatch. His work has appeared in an abundance of news programs and other publications. Beeler has also won many awards for his cartoons, such as the Fischetti award in 2014, and the Thomas Nast award in 2010 (The Association of American Editorial Cartoonists). The cartoon is arguing that debt is suffocating to recent college graduates through multiple rhetorical appeals. On college graduation day you tell yourself, “I’m finally done!” but are you really done?

I owe $40,000, I owe $60,000, I owe $100,000. Isn’t that a lot of money for one person to owe? Graduates have been faced with a serious problem brought about by the constant borrowing of money to gain a reputable education. The debt of loans varies from person to person but the extreme amounts that individuals owe is something the media finds worth gossiping about. Little does the public know, in reality, all the commotion and conversation about these debts are not accountable for the majority of college borrowers. According to A Lifetime of Student Debt? Not Likely by Robin Wilson, she intrigues her targeted college audience by giving examples and providing

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.

Although many people are considering student loan debt to be a national crisis, we must understand the reality behind it. Unfortunately not everyone is fortunate enough to make it through college without accumulating debt. In Robin Wilson’s essay, “A Lifetime of Student Debt? Not Likely”, she makes a compelling argument that shows how students get involved with really high debt. She claims, “…the problem among students who go heavily into debt is that they are determined to attend their dream college, no matter what the cost (257).” It is a true statement because students want to turn their dream into a reality. All students can reach their goal of attending a dream college by first choosing a community college in order to decrease the amount of student loans.

Robin Wilson had quite a compelling article, showing the potential contrast with the debt vs. the quality of life and stability a degree can provide. Wilson overall points show that the American dream we are all striving for has changed. She is able to demonstrate this through the use of several anecdotes. Wilson interviews with various professionals to see how they use these degrees to better themselves. In doing so she highlights various pros and cons of having a college education vs. the amount of debt they are now responsible for.

In recent discussions about college, a controversial issue has been the great amount of student debt owed by students. Hence, many students have opted to not go to college because they do not have the money to pay their student loan debts. In the essay“A Lifetime of Student Debt? Not Likely,” Robin Wilson argues that graduating college with student loan debts is a still better option than not attending college. On the other hand, other people contends that people should not go to college because they will end up in debt for the rest of their lives. My own view is that college is still a worthwhile investment that everyone should seek regardless of the debts they have to pay in the future. In other words, people should go to college. My

Individuals dealing with student debt "are postponing marriage, childbearing and home purchases, and pretty evidently limiting the percentage of young people who start a business or try to do something entrepreneurial," said Mitch Daniels, president of Purdue University and the former Republican governor of Indiana (qtd. in Holland). Because it’s almost universally accepted that college is the key to success, students are finding themselves falling head-over-heels in large amounts of student debt justified only by these universal standards. Student debt doesn’t just burden the individuals who are liable, the sheer amount of debt has begun to rattle institutions and financial patterns that are at the core of American society (Holland).

Not Likely,” goes upon shedding light on to explaining how students end up with the debt that they have. Wilson’s piece goes on to enlighten a situation that people tend not fully to understand. To make her point across she uses different examples of how money tend to add up against individuals attend college and uses the word borrow and make reference to student loans quite often throughout her article. At what appears to be an epidemic sweeping the nation, Wilson points out a number of articles going about saying the there is a disaster of financial storms, which are consuming students who attend colleges, and who use titles like “The Student Loan Scam: The Most Oppressive Debt in U.S. History and How We Can Fight Back” (256-257). She goes on to use an example that stating the majority of students who have debt listed against their name owe no more than a reasonable priced vehicle. Wilson also states in her writings that some borrow money for more than their schooling even cost and will even reach double the amount of what ones schooling actually cost. Any person that is responsible with money should know not to over borrow especially when it is double what something

An estimated 20 million Americans attend college each year, and 60% of those students borrow annually to pay for it (qtd. in asa.org, “Student Loan Debt Statistics”). Moreover, citizens continuing to pay off debt after schooling brings the overall number of student-loan-borrowers to about 40 million- with a collective 1 trillion dollars in debt (McCarthy, “10 Fun Facts About the Student Debt Crisis); a fourth of these borrowers owe over $28,000, a tenth owe over $54,000, 3.1% owe more than $100,000, “and 0.45 percent of borrowers, or 167,000 people, owe more than $200,000” (Haughwout, “Grading Student Loans”). While some view this predicament as the result of laziness or carelessness, the bulk of this substantial group are not at fault.

Student debt can socially affect a person’s life for years after graduation. Taking out thousands of dollars in loans causes a negative effect in student’s lives. In reference to Natasha Yurk Quadlin and Daniel Rudel, who has a Ph.D. in sociology and both work at Indiana State University, student loans affect persistence and completion for undergraduates. There is a correlation between how students do in their classes, the amount of time spent on their work, and the amount of time working in a job to pay off debt. Students become so stressed that they do not complete their college courses and enter their path of a new career. (Quadlin, Rudel, 2015). When students do not perform well in their classes, they tend to want to compensate for it. However, they cannot because they have to go to their jobs, to help pay off the thousands of debt that they owe and for their everyday necessities. Due to the amount of stress that they have to handle, it affects their personal health. Katrina Walsemann, in a representative study on student loans and early adult mental health, argues that “We are speculating that part of the reason that these types of loans are so stressful is the fact that you cannot defer them, they follow you for the rest of your life until you pay them off,” (Blake, 2015). It also mentions that the students with higher levels of debt incurred, have had higher levels of depressive symptoms. A college student’s overall health is

Which main argument is the income gap. Going back to the article “Even Cashiers College Pays Off”, the author writes, “...the returns from a degree have soared. Three decades ago, full-time workers with a bachelor’s degree made 40 percent more than those with only a highschool diploma. Last year, the gap reached 83 percent. College graduates, though hardly immune from the downturn, are also far less likely to be unemployed than non-graduates.” This though not completely dismantles the the debt counter argument against it. When you make more money it will help with the college payments you will eventually pay off. But it’s not about money for all. Though it is a big part of being successful I found that money wasn’t always a driving force. In my interview with Omar Harris, my father, he revealed to me that college has other pay offs. “ I didn't want to go to college at first. But in that year that I took off I observed my friends grow in a way that I saw myself not doing. They were maturing and though they had those childish attitudes and personalities I remembered. They had a sense of urgency to them that I only saw in adults and I didn’t want to to miss out on that growth.” Sometimes the experience is a very rewarding part of college. Learning the politics and the responsibility that comes with the real world has helped him become successful in his

It is no big secret that, in America today, most high-paying jobs require a college degree. Thomas C. Frohlich of USA Today stated that “graduating from college is a prerequisite for the vast majority of high-paying jobs”(2013). With the cost of a college degree increasing in unison with demand, few can earn a degree without the help of student loans. The American Student Assistance website reports that of the twenty million students enrolled in college, about sixty percent are attending with the help of student loans (2014). Obviously, student loan debt affects the individuals that obtain them. However, it also has severe effects upon the nation’s economy.

Growing up, it is easy to imagine the future playing out something like this: attend college, score that dream job, get rich, get married, have kids, and live happily ever after. It all sounds pretty familiar, however many young adults find that life does not always happen so simply. There are horror stories everywhere. Students graduate, fail to find a job in their field as they expected, and are left feeling hopeless as their credit card and loan bills pile sky high. Take Paige Nichols for example. Paige grew up in a family that was well-off financially. Her parents were able to pay for her two younger siblings’ college educations and, like many middle class children, she was used to getting what she wanted. However, by the time it was her turn to go to college, her parents’ financial situation had gone downhill and she was left to pay for her education by herself. After four years she graduated with a business degree and $20,000 in debt to go with it. Her payment plan was set at $300 per month, and although she had jobs, she was used to living frivolously, and therefore only made the bare minimum payment of $50 most months. This left her in a position where she would remain in debt until she was 50 years old. A few years after graduating with her bachelor’s, she considered going back for her master’s in forensic psychology, something she had grown very fond of. However, since she was already inundated with student debt and could not afford to spend an extra