Student Debt Is A Large ( And Growing ) Problem

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

After graduation, students find themselves in the daunting situation of how to pay their loans. Students accept jobs they dislike, they begin to depend on their parents, or resort to dropping out (Hart). Many student find themselves unable to continue their education so they decide either to drop out or transferred to cheaper schools, such as a community college, consequently placing themselves at a disadvantage in the careers they desire to enter. In fact, per an article written by Rachel Beckstead, “those without a college degree are twice as likely to be unemployed as those with one.” Loan debts are a steadfast threat; however, it goes beyond the present

In “The Argument for Tuition-Free College,” Keith Ellison addresses the matter of free-tuition for colleges and universities in America. The high cost of tuition increasing inequality and the largest personal debt in the country, student loans, are the main two problems Ellison discussed. Claiming that minorities are less likely to succeed in the community is one of Ellison’s ways to support the issue. He promotes his argument with two solutions. In the first one he explains how to eliminate student loan debt. Ellison uses free primary and secondary schooling as an example to explain his second solution.

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.

At every debate and town hall event Senator Sanders has reiterated his plan for tuition-free college, and has usually been met with the same question: "How are you going to pay for it." For the sake of debate lets say Mr. Sanders is able to pay for it. Even though top economists, including democratic ones, say his math doesn't add up (you can find my cited sources at the end of the article), lets pretend that it somehow will. Let us pretend that Bernie Sanders will actually make public college tuition-free across the United States, effective immediately. Now it is time to play devils advocate, (or realist) and break down the reasons why tuition-free college would be a bad thing, not only for the economy, but every person currently pursuing a degree.

As a mother of four, a large number of the social problems described in the text can and does directly relate to myself, as well as, my family especially regarding the matter of education. However, the problem directly affecting my family and I is the emerging social problem of rising student loan debt. Student loan debt is a problem that has begun to seep into the very mainstream of society as more and more individuals attend college, especially those with great financial needs. Personally, I am lucky to say that I do not need to borrow money to attend IRSC which has been a major blessing that has allowed me to better my education. Unfortunately, the same cannot be said about my husband, who graduated from Florida State University with student loan debts around $30,000 dollars. $30,000 dollars is a relatively average amount, according the Institute for College Access and Success(TICAS) 70% of college students graduate with student loan debt, with an average of $28,950. While this amount is overall average in our society, combined with the costs of raising four children, as well as, having only one working family member who makes a relatively low salary as a school teacher, it puts significant financial strain on my family. Rising student loan debt just doesn’t affect my family and I, it affects millions of Americans, especially those who are poor and cannot afford college. Rising student loan debt is a societal problem that is hampering millions of young Americans

During one of his campaign programs, Presidential-candidate Bernie Sanders stood before a thousand applauding and cheering people. This man just announced, as hopeful future President of the United States, that he planned to make college free for every US citizen. Many young adults favor Bernie Sanders, and other political leaders, idea of free tuition because they believe that it will open more doors for them and allow them to not worry about the burden of student loans. However, there are many reasons that regulating free college education could hurt our society and economy that people don’t often realize. College education should not be free because it would raise taxes, it would devalue the worth of a college degree, and it would pave the way for more welfare dependency.

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.

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).

Nearly 75 percent of Americans believe the cost of education should be the responsibility of the federal government. What is indisputable is the fact that there are major flaws with our higher education system. Americans are fed up with this system and the power that it wields over our life! Any smart presidential candidate would notice Americans’ anguish over this problem and develop a solution to not only make college more affordable but possibly free and to solve the paralyzing issue of college loan debt once and for all. This will truly provide Americans with the freedom and the pursuit of happiness they are entitled to and ensure your placement in the oval

It's a topic that many presidential candidates are addressing on the campaign trail, and now one local Assemblyman is discussing it Albany. Assemblyman Phil Palmesano introduced legislation to make college more affordable Wednesday.

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).

In 1958, the National Defense Education Act provided college students up to one thousand dollars a year in loans, but the average annual loan was actually only five hundred dollars or less because students could afford the rest of tuition on their own. Interest began at three percent a year after graduation and could usually be paid off in ten years. (Good 590-591) These statistics are a far cry from today’s, with student loan debt surpassing one trillion dollars and many graduates paying off loans well into middle age. As a result of the government shelling out billions of dollars in loans and inflation, colleges have had to increase their tuitions thus creating a college “bubble”. In the past year or so many political leaders have proposed plans to pay for two years of community college, such as President Obama, or for a full four years, such as Bernie Sanders, a frontrunner for the democratic candidacy. Even states like Tennessee,

In a recent BuzzFeed article, a freshman at UCLA was asked how his life as a college student was going. "It 's the remix to ignition, there 's no food in the kitchen, my whole life is a mess, I don 't know what 's going on and I can 't afford my tuition". The life of a college student is stressful. Getting to class on time after staying up all night studying and trying to earn a degree on pop tarts and canned potatoes is not an aspect many people dream of experiencing. On top of it all, students endure college with their biggest fear, how they propose to pay for it, because as most students and educators know it 's expensive. So, I 've come up with a backup plan. Instead of going through all this trouble paying for some degree that doesn 't even guarantee me a job after graduation, I 'm going to quit college, become an oven, and get up to five hundred degrees. I 'm joking of course, but it 's an idea that could probably save you a couple of bucks. Paying for college is an eerie and sinister part of life that many Americans are forced to face every day. According to The College Board, almost seventy percent of college students in the United States, the majority being of non-Caucasian decent, do not receive adequate funding and scholarships to help pay for the tuitions at high dollar public universities such as Ohio State, Arizona State and UCLA, and even inexpensive schools such as TSTC.