Student Loan Forgiveness

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.

5. Base on class statistics 83 percent out of 16 percent thinks the government should forgive student loan debt once a student has completed college and has obtain a job in the field of study.

Another option that students with debt may take would be joining the military. The military has its own loan forgiveness program. Another thing that the military has is strict rules about who can be in the military. People in the military rather it is the Army or the National Guard have to be healthy. It is not someone’s fault if they are not in perfect condition because for the most part our health is out of our hands. Basic things like not smoking can help prevent someone from being unhealthy, but no one can avoid their family history when it comes to their health.

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.

Most students do not make enough money to be able to pay for college debt free. In addition, most families don’t make enough money to pay for the college costs upfront. For this reason, students have been borrowing money from private loans to be able to attend a college/university. Although the government might give several students, who apply, money to pay for books and housing, it does not cover the total cost to attend college and obtain a degree. This might not be encouraging for students who wish to receive an education but do not want to owe money in the future. Loans have been scaring off students who wish to further their education and live their lives comfortably after college. If student loans were to be forgiven, graduates would not have to worry about owing a large amount of money.

Student loan forgiveness is a terrible idea. Sure, in an idealistic world it would be great if the country could forgive all student loan debt and thus bring relief to all students across the nation. Realistic? Not necessarily! Instead of the fairytale notion of student loan forgiveness being the answer to all the problems, America would fair better in taking the initiative in making reforms to the educational loan system that are a bit more realistic. Student loans are a massive predicament in the U.S. that can no longer be ignored. The Atlantic 311.2 article “The myth of the student-loan crisis(CHARTIST)(Statistical data)” by Allan, Nicole, and Derek Thompson states that to date student loan debt surpasses all other forms of debt with over a one trillion dollars sum (2013). The United States should stop being complacent on an issue that has affected and ruined so many lives and begin finding ways to relieve the proverbial and ever-present menacing “Student Loan” pitfall.

Because of the nation’s national rising debt, student loan forgiveness has been a significant topic of debate because of how much it can affect our nation’s debt and doesn’t always help the student. Student loan debt is one of the highest debt causes, but sometimes we forget that we are the ones that sign the line on the contract to be in years of debt. This is because we value our education. But this does not mean that just because we can’t find an amazing, high paying job right out of college that we should have our loans forgiven. We want the easy way out of something that isn’t easy, so why should the government pay for our debt? Yes, college is very expensive and that is the governments fault, but again we are the ones that signed the line on the loan papers. (Sam Adolphsen, 583)

The education correspondent for Time magazine, undergraduate at the University of Washington, concentrating on journalism and political science, and graduate work at Northwestern University, specializing in new media, Kayla Webley, in her essay “Is Forgiving Student Loan Debt a Good Idea?” states Robert Applebaum’s solution for student loan debt is a “radical and wildly unfeasible solution” in both economically and politically. Applebaum’s proposal is to “provide a one-time bailout of student debt…as a way to stimulate the still-limping economy.” However, Webley counters the solution has to have “the purported benefited and fairness of a one-time student loan bailout.”

When it comes to achieving success in the work force and finding a fulfilling and lucrative career there are few things more important that higher education. Going to college and getting a degree is essential in finding success in the work force. The problem is when the cost of gaining that degree outweighs the financial compensation the career that follows is able to supply. Very few people are able to pay for college out of pocket. The result of this is that students seeking higher education are forced to take out massive student loans. This means that they are entering the work force

The qualifications for the program are tough and federal loan forgiveness only applies to federal Direct Loans, not private student loans. If the graduate is lucky enough to land a public service job the graduate must realize that there is no guarantee that the employment will still be around in ten years since no one truly knows how the program will work or if it will work at all. Val Meyers, associate director for the Office of Financial Aid at Michigan State University comments are recorded in Susan Tompers’ article “My Apologies: Forgiving Student Debt is Tough”:

In the article “Is forgiving student loan debt a good idea” by Kayla Webley, a writer for Time, Webley feels that from a human standpoint forgiving student debt holds some appeal (2). Kayla Webley refers to Robert Applebaum who started a petition in 2009 with a petition of nearly 670,000 signatures. The comments from persons posting the petition are quoted as “guessing this will never happen but it can’t hurt to sign on” (1). Burdened with an estimated $88,000 in debt, Applebaum’s proposal is to provide a one-time bailout, of student loan debt-as a way to stimulate the still limp economy (2). Webley goes on to explain that such a plan has a problem. The problem being is that with an educational bailout most borrowers who can and should pay off their student loan would take this bailout, along with the students who really can not afford their loan payments and need the relief from their student loans. In Webley’s words “If forgiveness from a bailout was offered, who wouldn’t take the handout (3).

Author Kayla Webley writes the article title "Is Forgiving Student Loan Debt a Good Idea", on page 129. It is about whether student debt should be paid back by students or forgiven by the government. Student loan forgiveness has become a topic of conversation lately. Kayla Webley shares her kindness and her compassion to the public on behalf of the college graduates to hold some appeal against forgiven student loans debt. She writes this essay because of a comment posted on her Facebook wall "Urging the government to forgive all student debt"(129) and related stories and because she was in support of the student load debt forgiveness.

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:

Another option that students with debt may take would be joining the military. The military has its own loan forgiveness program. Another thing that the military has is strict rules about who can be in the military. People in the military rather it is the Army or the National Guard have to be healthy. It is not someone’s fault if they are not in perfect condition because for the most part our health is out of our hands. Basic things like not smoking

Student have debts one way or the other by continuing their education after high school and the student are pressure by their parents or at the counselor’s office in high school to get a degree. The only way is by college they say, but some student can’t afford it up front and need financial aid to help out. Here is when the student get in trouble by signing the application before they read the terms and conduction what they just sign. Some student think they will find a good job and not worry, because they know they can afford paying the loan back. Lot of employers are looking for experience to quantify for that job. When they have a degree after they finish school and seek for a job and find out they are over quantify or under quantify for that job and there is no way to pay for the student loan at a minimum job or no job at all and seeking for a solution help for the student loan. Some seek a default on the loan and don’t want that in your history records there is a better solution and it a student loan forgiveness. The solution to the problem with student loan debt is to be educated about which loans are best out there. Choice the best one for your situation. Student don’t have to get in debt, because there is other ways to pay for college, like going part-time to college and have a full time job. Some company will pay for you college. Be wise before you sign the loan document and read the terms and conditions.