Student Debt Argument

Student loan debt has become a discouraging problem throughout today’s economical foundation. “Overall debt is falling but student loan debt is increasing year-over-year and at a much faster rate,” chief executive David Stevens told The Washington Post. “[Young graduates] are already on the margin for being able to qualify for a mortgage. If you add on a

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.

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

With the ever-increasing tuition and ever-tighten federal student aid, the number of students relying on student loan to fund a college education hits a historical peak. According to a survey conducted by an independent and nonprofit organization, two-thirds of college seniors graduated with loans in 2010, and each of them carried an average of $25,250 in debt. (Reed et. al., par. 2). My research question will focus on the profound effect of education debt on American college graduates’ lives, and my thesis statement will concentrate on the view that the education policymakers should improve financial aid programs and minimize the risks and adverse consequences of student loan borrowing.

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)

In Wilson’s example she believes that there should be no reason for “over borrowing” and the total cost of an education consisting of books, classes, and living expenses cost around the weighted average. Due to the biggest setback of students who are determined to go to the college of their dreams tends to put a hole in their wallet. In other words, Mark Kantrowitz, publisher of FinAid states, “students want to be able to pay for the school they have wanted to go to for as long as they can remember, and they are willing to do whatever it takes” (258). These college students unnecessarily pull out large sums of money, which consequentially result in an outrageous amount students realize they can’t afford to pay back. Furthermore, a second situation that causes large debts is going to graduate and professional schools. Those schooling debts are way more expensive than the typical undergraduate debt. As Wilson argues, “medical school graduates borrowed on average of $113,661. But this higher debt makes sense for people who earn degrees in law, business, and medicine because they are much more capable of landing high-paying jobs and paying off larger loans” (259). These situations are the exceptions to the average student loans, which get confused on a daily basis. Wilson isn’t trying to discourage students from going to graduate school, but she is informing individuals about the end results. She

In Webley’s essay, in the sixth paragraph she mentions the average debt total of the graduate students. Student who has six-figure debts is only one percent of the overall college graduate students, Webley said, “the average debt total at graduation is a much more reasonable—yet still significant—$27,500.” This evidence is irrelevant to her essay topic of stating a reason why there should not have a one-time bailout of student loan. This information is ineffective to the essay due to her point related to how much the student borrowed.

Student debt forgiveness is not the answer, for it is the cost that is the issue that needs to be addressed. As Robert Applebaum states in his short essay mentioned in the article “Student Loans: Should Some Indebtedness Be Forgiven?” tuition rates are increasing at ridiculous rates because colleges somehow feel that because the government makes it easy to get a loan it justifies their rising tuition costs (466). Instead of arguing for student loan forgiveness, perhaps protesters should refocus their attention at the paramount reason for needing student loans in the first place.

Kayla Webley states concerns around Applebaum’s plan which involves fairness. One question Webley brings to my attention is, why should taxpayers especially those who never attended college in the first place cover the cost of the borrowers education (3). On one hand Webley brings up a valid point. Why should taxpayers pay for a college tuition for someone who possibly never held a job or for that matter ever paid taxes. On the other hand though if the taxpayers vote to

Education is something most people want to strive for but it comes at a cost. While the higher education system is known to be pricey, but it all varies. After a while bills start gathering higher and higher but for what cost. For a top dollar, level education, hardily. Never the less educators need to make a living also. In retrospect is the price really that much high than it use be, or is all just a product of inflation. Is the cost something we just want to see lower or is it something that truly needs to be lowered. A good example is Robin Wilson’s article “A Lifetime of Student Debt? Not Likely,” where she discusses the debts that students actually acquire upon going to school. Compare this to the article “Are Colleges Worth the Price

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

In the year 2007, 18.2 million students enrolled into college. About thirty-nine percent of those students were between the ages of eighteen to twenty-four (Marcus). College is seen as something one must do to be able to have a successful life or career. Student debt is almost guaranteed for anyone that goes into college. Seventy percent of bachelor's degree recipients graduate with student debt. Student loans in just the U.S. alone are up to 1.2 trillion dollars, this is the second highest level of consumer debt, just trailing behind mortgages (Snyder). Student debt has been an issue for anyone thinking about going into, that is attending, and graduating or leaving college. How to solve this issue is very simple, which is to save money, lower

In the United States today, the number of students graduating college with student loan debt is quite astonishing. In the article titled, “How the $1.2 Trillion College Debt Crisis Is Crippling Students, Parents And The Economy”, we will examine and break down the student loan debt crisis by the numbers. Today, almost two-third’s of students graduating college are graduating with an average of $26,000 in debt. For most students, $26,000 is a lot of money when the average annual income for a first year graduate is only in the mid $40,000 a year range. According to the Consumer Financial Protection Bureau, student loan debt has reached a new milestone, crossing the $1.2 trillion mark (Denhart, 2013, Introduction, par. 2). With student loan debt levels

65.7% of college students have to get student loans to pay for college, and the average student loan debt is $19,237 for a graduating senior in the United States according to the National Post Secondary Student Aid Study. This is no surprise considering that the rate of tuition increases 7% per year, and in some of the more prestigious colleges, students will have to pay well into six figures just to get their education. Even in-state rates for South Dakota, which is comparatively very cheap to practically everything else, students are still paying $40,000 for their education when one factors in dorm living and a meal plan. Most students will need to borrow some money on a student loan to get through school, but how does one know if they're