Student Debt Benefits

The problem with today’s current level of student loans is that it causes so many people that took out loans to go into debt later on in their life. Now when the former students go into debt, it creates a domino effect. The students going into debt means that the government will be able to get their money paid back to them which causes the country to be buried in an even deeper hole of debt. The nation is currently over 20 trillion dollars in debt and student loan debt is more than 1.5 trillion dollars as well according to the United States Debt Clock as of November 2017. The issue of student loan debt needs to be addressed sooner rather than later to help the country gradually come out of debt. A start to help reduce the amount of debt in

There are enough people in debt today who have big dreams and goals and are trying to work hard to achieve them, with such a simple thing as money standing in their way. It can be as easy as a five minute break during one class period in a 180 day school year to inform students about how to rescue their futures from the impending doom they may face. Education is important, no matter what it pertains to, and

Students are asked simple personal finance questions, yet most are uneducated about what the right answers are to those questions. Knowing about personal finance before adulthood can help future generations not repeat the same mistakes as past generations. People who don't have a basic knowledge about financial literacy tend to not plan for retirement, and are more likely to borrow money with high interests rates not knowing how much it will cost them (Shepard). Learning to create a budget, saving money, and using a credit card with understanding the fees and the interest rate are basic concepts but are usually misunderstood until later in life. Personal finance questions come up in adults life's everyday, however some adults can find these questions to be very difficult. By educating young adults with every day life situations about personal finance knowledge before adulthood can eliminate poor financial decisions later in

Credit cards are one of the many factors that contribute to student debt. A larger proportion of college students rely on credit cards for paying direct academic expenses. ''This includes textbooks, school supplies, and tuition" (Min Zhan 134). Credit cards appear to be a great investment in college, but they are also problematic. Credit cards are related to higher levels of student drop outs from college. Student indebtedness are necessary given the rapid increase needed to meet the financial needs of higher education.

Of all of the hardships facing college students in this day and age, debt one of the greatest. There is a trillion-dollar debt that United States' students are drowning in, and it has become not only a burden on the shoulders of those who have the debt, but in fact, every taxpayer in this country suffers because of this debt. We, as a county, have created the concept of "free money," specifically when talking about loans, credit cards, etc. Without immediate consequences, it is not an immediate threat to those who obtain it. This "free money" can be directly attributed to inflation and a rise in the price of a collegiate education. My parents, who graduated from college in 2001, are still agonized with paying off their collegiate debt. I do

Student loans debt is a major problem in this society. It has escalated and accumulated over the years as more people attend college. Americans postulate that going to college gives them an opportunity to succeed in life and to earn a great salary. On the other hand they are leading themselves owning the government money with so much debt. It’s not just one loan most of students have to pay for both, there would be different loan due dates that most students have to keep track of while going to school. There are whole bunch of scholarship opportunity out there people doesn’t even use them. Some students borrow more them they can pay back. Regardless, money borrowed for education would have to be paid back either concurrently or after one receives

Although knowing how to manage money, budget, and finance does not guarantee life will be a piece of cake, failing to understand can come with consequences. Many students are going into college and starting careers without knowing how to properly manage their finances, save money, or invest. In her article, Yes: Ignorance Carries a High Price, Annamaria Lusardi uses driving as an example. Lusardi mentions how there are many precautions taken in

College Students are exiting college with empty pockets. In the year 2015 the average amount of debt students are graduating with is about thirty thousand dollars. The average amount has been on a constant incline and continues to grow by about four percent every year. According to author Katie Lobosco “Colleges are not required by law to report how much debt their students carry, so some don't respond.” (1) so the average amount of student debt is inaccurate. It is likely that the average amount of debt per student exceeds thirty thousand by quite a bit. Billions of dollars in student loan debt goes un recorded which will in turn effect the nation directly.

Unfortunately, with furthering your education, student loan debt is almost guaranteed. My husband is seven years older than I am, so when I graduated high school and chose to get married instead of going onto college we lived in his small house that he had. Shortly after getting married, we found out that we were expecting our first child. I knew that we would grow out of our first home quickly so we began the process of getting a new home. We found out that no credit is worse than bad credit. We were blessed that by putting down a decent down payment by selling his old house would help us to be able to obtain a loan.

Debt is at an all-time high in America and is not slowing down any time soon. One of the biggest problems students face coming out of high school is debt. From credit card companies urging them to buy to trying to figure out if college is worth the price, young adults can easily fall into a debt trap. I came from a middle class family and had to make the decision to go into debt to pay for college or not go to college at all. I choose to go into debt and although I will receive a degree when I graduate I was not properly educated on exactly how much money I was borrowing and what that actually meant.

Although the reliance on student loans continues to increase for college students across the nation, the vast majority of American teenagers are not required to attend and complete a Financial Literacy course before graduating high school. According to Jillian Berman, only five states scored an A on the 2015 Report Card on State Efforts to Improve Financial Literacy in High Schools, and those same five states are the only states in the country that require students to take a dedicated semester of personal finance courses before graduating (Marketwatch.com). There is an obvious problem with the state efforts to properly educate finances when 14 out of 50 states rank in at a failing grade. Money is an essential asset to life on Earth, and proper education on financial management is vital for the basic requirements to sustain life. Education on how to manage money in order to afford food, shelter, clothing should be the main priority of the Financial Literacy courses. More in-depth are topics

Building one’s credit is a great deal easier said than done, and while credit cards can be a good solution to this problem, they can also be a burden if one is not careful when using them. Not only can it be detrimental to one’s financial budget, but it can leave a vast impact on a College student who is already in debt from financing their college tuition and living expenses. Entering into College students are not incredibly aware of how credit cards actually work and don’t have the financial background to understand the repercussions that credit card debt can bring. Which in turn can result in high credit card balances that will take a sizeable amount of time to pay off. Not only does this affect the students financially but in other ways as well. For example, the dropout rate in students with higher debt is a great deal higher than students with low, or no credit card debt (Norvilitis 635). Research has also shown that it creates a lower self-esteem and a decreased feeling of financial wellbeing which can create higher stress levels, which can result in the eventual drop out of a student due to the additional stress (Norvilitis 635). With this being said, we can see that there is a need for some type of reform and education around credit cards for College students. Hence, we can say that while credit cards are a great way to help build credit, they can also be very dangerous, leaving students with an enormous amount of debt if they are not careful, could education on

      Availability of credit cards have left young people in debt.  College-age students and low-income consumers, typically deemed bad risks, are easy targets for credit card companies.  Credit card companies should not target college-age students and low-income consumers because of their lack of financial stability.  In 1996, twenty-something consumers owed an average of $2,400 on their credit cards, nearly triple what they owed in 1990, according to research by Claritas Inc., a marketing research firm in Virginia.  If, payments of  $75 were made monthly to pay off a $2,400 debt, it would take 3-1/2 years with a 16 percent-rate card, and

Student debt is an aspect of life many across America share. There has been a push for more citizens to attain post-secondary education, as more and more low-skill jobs are being shipped overseas. At the same time, prices of going to college have gone up significantly, forcing many to obtain loans to pay for this experience. Although it is often a worthwhile pursuit, the debt caused by these loans of follow individuals long after they have graduated, sometimes lasting as long as twenty years or more. And even though most are able to pay of their debts at some point, this burden is often daunting and impacts those who are weighed down by it. Thus, in order to help people be free their student debts I have compiled numerous ways to pay student debt off more quickly, as well as reminding them that even though a college education has its costs, the benefits are worth it.

Credit cards are used as a foundation for setting college students up financial future. Although this may be true, it can also bring you down every time you swipe. The purpose of this paper is to illustrate that credit cards can be dangerous because it can lead to debt and the toll it could take on the future financially. College graduates in their late 20s can face three major issues such as overspending, high interest rates, and possibly low credit scores when dealing with credit card debt. Strategic recommendations include not only being careful when using credit cards, but also limiting yourself to what you can afford so that you will be able to look forward to other possibilities in your financial future. These possibilities include, but are not limited to, buying a car, a house, a boat, vacation, etc.