The Problem Of Student Debt

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.

Choices are the decisions we make in life, some are good others are bad. Choosing a bad decision can affect families mentally, financially and emotionally. Bad choices always have consequences. A persons emotions can alter them into making terrible choices. Sometimes there is not a choice that is positive.

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.

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

“By 2020, 65 percent of the jobs in the United States will require at least one post-secondary education Community colleges serve close to half of all American students, enrolling 10 million students each year, but just under 20 percent earn an associate’s degree within three years.”(Georgetown recovery: job growth and education requirements through 2020) In contrast to the 20th century, a high school diploma was sufficed enough to fulfill

Attention Step: Haley Edwards, author of the article titled “But Can America Afford This Approach to Solving Student Debt?”, from the Time magazine, published November 30, 2015, tells a story of a woman named Allison Minks, who owes an amount of $99,326 in federal student loans. Mink is a 35-year-old mother of two and her full-time job as a counselor at a nonprofit clinic does not begin to cover her student loan debt. Tired of being in debt, Mink went searching for a solution and she found a program that says if she works in public service, she can get loan forgiveness after just 10 years. In other words, because of this program, Minks now pays an affordable amount each month and she’ll be scot-free before she is 45. But, Mink is only covered

The main focus of the debate on college is whether a higher education pays off. While it is widely believed the skills learned at college are invaluable, and earning a degree means a better job with a higher salary, college is still a huge financial risk; the prospect facing a lifetime of student debt is intimidating. Parts of the debate that need further research include how to get the cost of college education down, and how can students avoid getting into unmanageable debt.

In the United States, it is generally accepted that college (or any form of higher education for that matter) is a wise investment that each and every individual should strive for. Each and every year thousands of parents open college funds and future investment plans to ensure that once their child is of age he or she can participate in quality educational programs. While college attendance rates are at a positive all-time high, right behind it follows an astounding $1.3 trillion dollars in student loan debt. Let’s face it, college is expensive, and it’s only getting worse. Could the outstanding quantity of student loan debt be the next national crisis?

In recent decades, student loan debt has increased dramatically causing a so-called, “education bubble”. This ‘education bubble’ is essentially the ‘housing bubble’ within higher education. The Federal Government, like those in the housing market crash in 2008, are lending money to those who receive a low income and can not afford college. According to The Weekly Standard, “the Federal Reserve Bank of New York reports that during the past decade, student loan debt has nearly tripled and the number of students with debt has risen by 70 percent” (Cochrane). The Federal Government needs to decrease the amount of loans they are giving out in order to prevent another crash within our economy. As a senior in high school who will not be receiving

The presidential race is now consuming America. It is mentioned every morning in the news and in every “scroll” through social media. While important topics such a national security, national debt, and international affairs are brought up constantly in the debate spotlight, higher education is a topic less discussed. However, each presidential candidate has a specific, strategic plan to tackle current issues in higher education. The main issue that candidates believe should be addressed includes college costs and how they impact student debt. Each candidate has a different stance on the issue, and each have a plan to move toward solving the issue. This review will cover the current issue of student debt and how that is impacting America, each presidential candidates strategic plan to tackle this issue, a critique of each presidential candidate’s plan, and a reflection of solutions presented. Each candidate running for the 2016 presidency deserves full recognition, this review will focus on the two leading presidential candidates: Hillary Clinton and Donald Trump.

Although the majority of students in college struggle with finances, STEM majors and underrepresented minorities, specifically have a daunting task of paying for college at a remarkably young age. According to the article, “Debt Overload”, by the National Society of Professional Engineers, “…28% of African American students reported $33,500 or more of undergraduate debt compared to 15% of Caucasian students.” Also, students with Science, Computer Science, Engineering, Environmental Science, or Mathematics majors accrue over $20,000 a year in debt. Majority of student loan debt exceeded $900 billion in the first quarter of 2012, up $30 billion from the previous quarter, the Federal Reserve Bank of New York reported on May 31. This number has increased by $663 billion since just 2003. Student debt is so widespread that two-thirds of the class of 2010 graduated with loans averaging $25,250 each, according to the Project on Student Debt. While studying the article, it was clear that another possible reason that students did not enter the STEM profession was because they could not afford to go in debt for a degree that often required further education after a Bachelors. At the same time, the country is

Going to college has been taught to be the next step in education after graduating high

There is over $1.2 trillion of student loan debt in the United States.1 Consider these ways to save money before college, rather than burdening yourself with debt afterwards.

Facing a seemingly massive debt can create a scare tactic to continue on a path toward a higher and exceptional education. Although there are controllable factors to help lessen the weight of student debt it creates a wall of challenges toward furthering ones education, because of the fear of falling into a seemingly large debt Canadian students are afraid to maximize their education, prohibiting Canada to create and maintain a stronger and more skilled work force.

In today’s capitalist society, many have to act or reject their current thoughts and emotions to thrive and survive in the workplace. In daily life many pretend to be happy and attentive for means of a pay check, in which without these tools many would find themselves without a job. While at times seeming trivial in terms of preventing working from being done, emotion is one of the few unique qualities that makes us truly human. It is in this way, emotion plays a important role in