Should College Students Be Paid For Their Education?

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

Lower classes families will be able to send their children to college which will give them an opportunity they would never have had.

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.

Coming from a 2013 study, published in Anxiety, Coping and Stress stated, “Those with greater financial strain perceived more stress, had more symptoms of depression, anxiety, and ill health.” There are many existing highly stressful situations that cause college students to drop out. Students that depend on themselves, with no help from their families are more likely to drop out due to financial issues. A survey conducted by Public Agenda reported by New York Times reveals that students who are receiving financial help from their families have sixty three percent graduation rate, exceeding the forty two percent of those who graduate and pay for college on their own. This proves

Student loans are becoming more and more of a problem for college students all across the United States. As college tuition has significantly increased over the past years, it has become extremely common for most college students to finance their education through student loans. Tuition has become so expensive that it is almost unheard of for a student to pay for their tuition out of pocket or by working for their education part time. As the result of tuition being so high, many students often graduate from college with thousands of dollars in debt waiting to be paid off. More often than not, people do not think of the consequences of taking out so many student loans, they usually have some reasoning behind why they take out as many student loans as they do and in return do not think about the after-effects and consequences of borrowing that much money. Most people do not worry about their loans because they expect to make a decent salary after graduating and believe that they will be able to pay back all of the loans later on in life. Due to the extreme cost of college and students obligation to take out student loans, college campuses should require students to become aware of the dangers of pulling more student loans than necessary.

Colleges are noticing a drop in students’ interest in a higher education, because it forces them to fall into poverty. Obtaining a higher education is a dream of many working class citizens, but the price to go to a choice college is not available economically. The majority of students use some type of student loan, they have become the norm for attending college (Johnston, Roten 24). College is becoming unaffordable to many lower class students. With tuition prices this high, students are backing out of school and looking for jobs that only require a high school diploma. Student loans should help people, but it is only hurting them because they feel like they can never repay it. Especially since student debt continues to rise. “Student loan debt rose by 328 percent from $241 million in 2003 to $1.08 trillion in 2013, according to the Federal Reserve Bank of New York” (Johnston, Roten 25).

As Young teenagers become adults and start College, one issue that doesn’t seem as a big deal at the moment for many students are student loans. Young college students who don’t have the money, don’t have enough scholarship money, or family who doesn’t have the money to pay, will apply for student loans each year. They amount the student receives can vary depending on the college and what the student has achieved academically. Though interest rates are low with subsidized being 4.29% and unsubsidized being 5.84% ("Federal Student Aid" Interest rates and Fees), student loans still have a huge effect on college students once they graduate. One college graduate’s story helps explain the struggles for most students:

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

For example, one of the many factors that often cause stress about college is the financial portion of it. Due to the now ever falling economic state of the middle class, more and more students find that college, unless paid for in full, is completely out of the question due to their predisposing financial problems. If a student were to take out loans, this

After graduating from high school, it’s a time to start fresh and find your personality.There are many choices that we as young adults have to make about how we are going to continue on with our lives, and get to where we want to be. Furthering our education in the long run will help us have happier, successful lives. Going to college, is a big part of many people’s lives, and a choice that many will choose to get to their next goal in life. Although, when one is looking into what route they are going to choose, there are many options to pick from; a public and or private university, a community college, a technical school or even going into the military to help pay for the high tuition. In this paper, I’m going to discuss the tuition, class sizes and what they have to offer.

All over America, undergraduate and postgraduate students are feeling the pressure of student loans and their debts. A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses (Mitchell 15). While it may sound like an inviting way to pay for college, it comes with its downfalls. Rapidly rising college tuition costs have made student debt the only option to pay for college for many students (Kristof). Student loans are increasing $3,055 every second (Kristof). The average student in America graduates with $35,000 in student loans (Akers 18). In fact, student loans have become so popular, all together students have

For this paper, I will be providing context on how student debt is effecting college students. For most Americans, the best way to better your life is by attending college. Many American college students take out loans to be able to attend college. Unfortunately, with college tuition increasing, so does the amount of loans that is necessary to afford it. Many Americans are in debt, it is affecting the American family, and prevents college students to start their own family.

Today, more than 94% of students take out loans (.......). That is up from 1993 when 63% of students of students had to take out loans. (....) This leaves a great deal of the younger generation trying to come up with ways to pay back their debts for years, sometimes even decades, after college. While this is happening, people are trying to travel, get married, and have kids. The burden of student loan debts could hinder one’s ability to do these things and move on with his or her life. This could create strains in relationships with one’s friends, as expensive social outings can’t happen, one’s family, as it costs money to visit them, and one’s love relationship, as having a kid or a wedding would be a big financial burden when large monthly payments still need to be paid on student loans. In a study conducted by Lange and Byrd (1998), higher debt was linked to lower self-esteem. This creates a more secluded society. Studies show that college kids who are debt-free are more likely to go to parties, engage in extracurricular activities, and create friendships that last far beyond college (.....). This is compared to kids with loans, who spend the majority of their time studying alone and do not take the time to form any relationships or interact with others. “Student debt can also affect students’ mental health; Cooke et al. (2004) find that students in with higher student debt experienced significantly higher rates of stress and anxiety.” (http://www.brookings.edu/~/media/research/files/papers/2014/05/student%20loan%20debt%20rising%20gale%20harris/student_loans_rising_gale_harris_09052014.pdf) Also, more and more students are choosing alternative methods when they find out about the loans they will be tied to. Some kids choose to not go to college, or to work for minimum wage for many years until they have more

There are people who are in our nation right now that can 't afford to go to college and gain the education they need to succeed. People have a deep conviction about this controversy. This issue has lead to the debate should the first two years of a college education be free. If college was free for the student the yes, it comes to the taxpayers to come up with the money. There should be rules and regulations in place and should be maintained by each state. The counter argument implies that college isn 't a given and should be paid for by the individual. Both sides of this controversy have valid points. The other side being the taxpayers saying that college is a privilege and not a handout. Although both sides of the debate have strong points one side has not taken all the facts into account, the controversy of a free college education can be traced back to the basic assumptions on both sides. Those who are in favor believe that college education should be free while those who are opposed hold to the notion of privilege.

What are some ways that students can fund their college education? Many people believe that there are no ways that can help college students pay for college. Furthermore, there are many ways you can pay off your debts or fees. In this Informative essay, it will explain the types of ways that students can fund their college education through Scholarship and Grants, Private student loans and Parents paying for college.