The Benefits Of Student Debt

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

Student debt is a topic that generates a lot of debates. From politicians to lenders to students, everyone has an opinion on the topic. With a trillion dollar national debt, it’s not surprising why the topic is such a huge issue and the solutions are even greater. The student debt is a form of debt that is owed when a student has completed college or drop out. The average interest rates for the ungraduated and graduated are 4.45% to 6% (Quadlin). To pay off all the students’ debt, it will take 10-25 years to complete it. College students will have at least six months before they have to make the first payment. Student debts can be a real problem for those who aren’t preparing for them. Student loans debt should have a longer grace period, lower monthly payments and repayment programs that apply to all because students will be able to manage and repay their debts in a timely manner.

With the cost of attending even public state schools starting at $20,000 a year, most college graduates will leave with student loan debt. This inevitable debt can already be immense and feel crushing. Credit card debt accumulated in high school is not forgiven by the bank when a student graduates to college. Why would you let your teenager needlessly make their future financial situation worse? Stress surrounding student loan debt has claimed lives. In Oklahoma, two colleges students committed suicide over their inability to pay their debts. They were found dead with their bills beside

I also found some web sources that have a divergent view. For example, “Debt Burden: Repaying Student Debt”, a report written by American Council on Education, the only higher education organization that represents presidents and chancellors of all types of U.S. accredited, degree-granting institutions. This report describes the borrowing and repayment experiences of 1992/93 and 1999/2000 bachelor’s degree recipients one year after graduation. The author believed that student loan debt did not have discernible impact on graduate one year later. To support his/her argument, the author collects data from U.S. Department of Education and National Center for Education Statistics. Although this source is reliable and

College students graduate with an average student loan debt of approximately $37000. Of course, that's not the whole story. Millions of college graduates have student loan debts ranging from $50,000 to over $200,000.

When opportunity knocks you should always open the door. College is a great opportunity to garner success from a secure career. Furthermore, college or university education is worth the debt you will accumulate from it. If you're still weighing your options, consider this, "Lifetime earnings for college graduate are substantially higher than the earnings of someone without a college degree," (Source 4, pg. 13). Getting a higher education is not just good for you, but its also good for your bank account. On the plus side, it is easier for you to live a better life, and if America ever hits a recession you will be in a better position to support you and your family.

Financial support has played an important role for college students, especially for university students, whose family could not support their education after they have graduated from high school. Due to this situation, students have to go through a lot of problems with their tuition fees to be able to continue with their education. They always need a large amount of money besides paying for the tuition but also for living, and students have to go through a lot of problems with their tuition fees in order to be able to finish their career on time and earn a better living in the future. Some students will choose to go to work part time while at school, so they can pay for their fees and their own expense, such as gas, foods, and clothing. On the other hand, most of students will choose to take out loans from somewhere else, such as the bank or federal loans. This way, students who choose to take out a loan could focus on their education without worrying about how to pay for their fees. It is very important for students to acknowledges and be aware of the different types of student loans, and all the requirements before students decide to obtain a loan. Because of the raise in tuition leads to the existence of the student loan debt is a burden that is a financial impact on lifestyle changes, such as postpone couples to get married, to have children, to buy a house and to save for retirement.

With the cost of college so high these days it is not unusual for graduates to hang on to student debt 15 to 20 years after they complete their degree. However, this does not have to be the case. You can actually get rid of student debt in 5 years or less with a little planning.

Student debt has led to many negative consequences for students attending college. Senators tend to have different views when it comes to solving the student debt issue. Elizabeth Warren, a Democratic senator from Massachusetts, has been concerned about the constant rising of interest rates on student loans throughout the years. She proposes a certain bill to help cut down such rates. Bernie Sanders, another Democratic senator from Vermont, focused on the importance of the young generation earning an education. He attempts to make college more accessible for everyone. Lastly, Robert Reich, a former United States Secretary of Labor, has pointed out that college is not for everyone. He believes that individuals should have a choice rather than being forced into college due to society.

Over the last decade student loan debt has risen substantially and is now one of the largest form of personal debt in America, totaling about one trillion dollars, with 71 percent of students who earn a bachelors degree graduating with debt, with the average amount of debt being $29,400.

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

“College is part of the American Dream, it shouldn’t be a part of a financial nightmare for families” - Barbara Mikulski, United States Senator. Student debt is a rising issue in America; 43.3 million students are in debt at this moment, and this number increases every year. In other developed countries, education is free or low cost and works well economically. Countries like Germany, Sweden, Australia, Denmark, and France have extremely affordable college tuition, so what do these countries do to make education so affordable? What do American politicians and citizens find wrong with free or lower cost college education? How should America go about solving this issue and follow other countries footsteps? Just how bad is America’s student debt

Symptoms. How does the problem show itself, or what are the difficulty? With the high tuition, books and supplies, graduates are paying more that they can afford for their education. The average Virginia college graduate leaves school more than $29,000 in debt (Marcus). Unfortunately, students feel like they have to go to college to succeed in life and with the rising cost of school, their debt can only get bigger.

They borrow to pay for tuition and room and board. Because of the day time schedules that many college programs require, it is hard to find a decent job with flexible hours that can pay their bills.

Financial support has played an important role for college students, especially for university students, whose family could not support their education after they have graduated from high school. Due to this situation, students have to go through a lot of problems with their tuition fees to be able to continue with their education. They always need a large amount of money besides paying for the tuition but also for living, and students have to go through a lot of problems with their tuition fees in order to be able to finish their career on time and earn a better living in the future. Some students will choose to go to work part time while at school, so they can pay for their fees and their own expense, such as gas, foods, and clothing. On the other hand, most of students will choose to take out loans from somewhere else, such as the bank or federal loans. This way, students who choose to take out a loan could focus on their education without worrying about how to pay for their fees. It is very important for students to acknowledges and be aware of the different types of student loans, and all the requirements before students decide to obtain a loan. Because of the raise in tuition leads to the existence of the student loan debt is a burden that is a financial impact on lifestyle changes, such as postpone couples to get married, to have children, to buy a house and to save for retirement.