The Issue Of Borrowing Money

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

Although many people are considering student loan debt to be a national crisis, we must understand the reality behind it. Unfortunately not everyone is fortunate enough to make it through college without accumulating debt. In Robin Wilson’s essay, “A Lifetime of Student Debt? Not Likely”, she makes a compelling argument that shows how students get involved with really high debt. She claims, “…the problem among students who go heavily into debt is that they are determined to attend their dream college, no matter what the cost (257).” It is a true statement because students want to turn their dream into a reality. All students can reach their goal of attending a dream college by first choosing a community college in order to decrease the amount of student loans.

College debt has risen significantly since “The Great Recession” in 2009. Due to the high college fees, students are faced with lifelong debt. If the rise continues, only the rich will be able to obtain a higher education, resulting in American education to take several steps backwards instead of improving. Although many have tried to fix college debt problem, it has mostly gone unnoticed. Specifically targeting the nation’s youth, college debt is destroying the chances of the lasting effects on the economy from fully recovering.

In 1976, the average cost to attend a four year public university was $2,175; today, the average cost to attend a four year public university is $25,000 (Snyder). This means it is 1150% more expensive to go to college in The United States today than it was 30 years ago. This obviously would create a problem on how we as people are going to pay for our higher education. Today college has become almost a necessity to have a satisfactory life, and with these rising prices some individuals believe student loans are the only option. There are many reasons as to why the prices have risen, but the one undeniable fact is that this has created a problem within our country. Which, is known as the student debt crisis, and it has been on the rise the past couple years. This problem is affecting people all around the United States, and is causing multitude of problems for them all because they wanted to pursue higher education. Wanting to better your opportunities by bettering yourself is not something that needs to be punished, and sadly that is what is happening. This problem is something that needs to be fixed for the sake of Americans and our economy, but will also take time and a multitude of steps to correct.

Tuition cost plays a vital role in deciding whether to attend a community college or a four year institution. According to Susan Stafford, “Tuition for community colleges is affordable while tuition costs at public institutions are usually at least twice that of a community college” (1). The tuition cost in universities can be overwhelming and highly unaffordable, This have caused many students to graduate with s heavy loads of debt but by attending a community college, an individual can

Student loan debt in the United States is expanding unrestricted each year. There are 36 million Americans today, holding over $740 billion dollars in student loan debt. (U.S. 2013) The current student loan system is intended to open doors to economic prosperity for those who could not otherwise afford to go to college. Research suggests that the unintended consequence of too much available student credit is real people losing prosperity and languishing in debt for extended periods of their lives. Reducing or eliminating the availability of student loans would have a tremendous impact on improving the lives of Americans. If things continue the way they are now, American’s will soon find college, and its implied ticket to economic

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

argument to student debt existing as a major issue in the United States and its economy.

One of the main reason that put most college students in debt is tuition. The average cost of tuition is increasing each year. In the article “The Student Debt Crisis at State Community Colleges”, Quinton says that plenty of community college students graduate drop out and an increasing number of students are taking on debts they cannot pay back because of the tuition (2016, para 3). This shows that college tuition is the reason why students are being pushed aside from college. Tuition costs are considerably lower at community colleges than a 4-year college. They keep their doors open to everyone and everyone gets a chance at community colleges. Research shows that even though for profit

I owe $40,000, I owe $60,000, I owe $100,000. Isn’t that a lot of money for one person to owe? Graduates have been faced with a serious problem brought about by the constant borrowing of money to gain a reputable education. The debt of loans varies from person to person but the extreme amounts that individuals owe is something the media finds worth gossiping about. Little does the public know, in reality, all the commotion and conversation about these debts are not accountable for the majority of college borrowers. According to A Lifetime of Student Debt? Not Likely by Robin Wilson, she intrigues her targeted college audience by giving examples and providing awareness that most individuals are paying back their students loans within a timely manner with just a few sacrifices. Wilson emphasizes that the real reason individuals have an outstanding debt is because “they are determined to attend their dream college, no matter the cost” (257). There are various reasons why students take out loans and Wilson is determined to clear up the confusion of student debt, she encourages college students to take out loans even with media’s negativity, and lastly she tries to enlighten this targeted college group that debts are repayable with additional sacrifices but in the end, that debt was the best decision they have ever made.

Good afternoon, 21 million students attended college in the fall of 2014 ("Back to School Statistics"). The total student debt in America is 1 trillion dollars, the majority held by members of the middle class ("Back to School Statistics") (Carrns). Student debt is negatively affecting the economy by encumbering the middle class with absurd financial burden thus widening the wealth gap and decreasing social mobility. America should pursue redefining education through lowering the cost of college and reevaluating social stigmas attached to states schools or community colleges.

Some may argue student loan debt is crippling graduates (Procon Con 1). Student loans are crippling seniors because they cosign with the student (ProCon Con 7). More than just crippling graduates it’s crippling seniors and parents of the students. Student loans might cause crisis because they are at $620 billion as of 2012 (ProCon Con 10). Student loans could cause a depression because how much students are borrowing money. People who don’t go to college are more likely to be homeless (Oachs 15). Being without college education it can be harder to find jobs because college is practically required to have a good paying job. Although some people apply for colleges they can’t afford they might create another depression because of how much student loan debt there

student debt crisis has reached an all time high with debt reaching a total of 1.3 trillion dollars across the United States.With tuition cost increasing,lack of scholarships and unpaid back loans,student debt will continue to increase even higher.The enormous amount of debt put upon each student creates the inability of those students to help the economy grow.Our economy as we know it is a loop and decreasing the student debt significantly will help the economy grow.Instead of putting that money towards the government where it won 't be used to help decrease the student debt as we can see by the total debt, it should go to the community, such as purchasing homes,cars,consumer goods,sales tax which will help improve the economy even more.Crippling student debt is stifling the growth of the U.S. economy because it inhibits graduates from being able to spend money on consumer goods and home purchases. To alleviate this, lenders should be required to forgive student loans in cases where students are unable to repay their debts,decrease a cost of attendance,and increase scholarship opportunities from universities.Doing so would benefit the growth of the economy by increasing tax revenues, unfreezing credit markets, and creating jobs.

College debt is hurting the life after college of students. Students who have graduated from college with a debt are experiencing a rough life. For example, debts can lead to students not being able to buy their own home or provide a sustainable life for their family. According to Washington statistics “2015 graduates with student loan debt: 57% Average debt: $24,600” (USA Today). If people were not in debt, they would be able to pursue the life they want, and be able to use their talents. Today, many students would not able to provide their talents to the public because they would be doing a job they did not want to pursue for financial reasons.. Without student debt we would have a better country, less people would be on welfare, due to

Student debt is at an all-time high. Many college students and recent graduates may find themselves asking: "what's the point?" Why go to college if there is no guarantee of a great job, but you are almost certainly guaranteed to graduate with high levels of debt? But take a careful look at the statistics. While the unemployment rate for recent four year college graduates is 6.8%, the unemployment rate for recent high school graduates is nearly 24% (Webley 2012). Of course, there are many other reasons to go to college, such as personal fulfillment. But for those who are considering not going to college because of economic concerns, I advise you to think in the 'long term.'