Student Loan Debt And Why It Is A Problem Essay - 1507 Words

Student Loan Debt and why it is a Problem 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. A problem with student loan debt is that students gain more debt because they are not able to pay off the student loans within the given time which also causes them to put certain life decisions on hold. According to Sophie Quinton debt is a problem for the recent college graduates because â€Å"There’s currently no way to get rid of federal student debt other than paying off the loans. while some borrowers are paying off their debts just fine, overall they are adding debt faster than they are shedding it†(Quinton). According to Jamaal Abdul-Alim stated that a â€Å"survey - titled Student Loan Debt: Who’s Paying the Price?- revealed a number of troubling statistics about the practical ways that student loans are impacting college graduates in their everyday lives. For instance the survey found that: 49Show MoreRelatedDebt Is Not Only A Sum Of Money Owed For Money1626 Words   |  7 Pagesyou want to learn the secret to being debt free? Is simple, make sure y ou have the winning numbers to the lottery. Debt is not only a sum of money owed for funds borrowed, but an actual impediment to the decisions we conduct concerning our education and our lives in general. Debt is considered to be the reason behind the headaches, the financial concerns, and mental stability of multiple individuals who day by day find themselves consumed in debt. In my case, debt would either be a factor I will beRead MoreStudent Loan Debt Is Not Worth Going Into1335 Words   |  6 Pagesdecade 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. This topic has become a very important issue, with some people saying that student loans could be the next bubble and could do what the real estate bubble did to the U.S economy in 2007 and 2009. If student loans are becomingRead MoreStudent Loans For Education Equal Success997 Words   |  4 PagesStudent Loans Assisting For Education Equal Success After reading the articles on, â€Å"The Myth of the Student Loan Crisis† it was stated that student loans are the crisis because of the hundred dollars worth of debt. The second article, â€Å"Here’s Your Crisis: Student Loans Debt Isn’t a Myth† explains that student loan crisis is not a myth but the fear of debts are preventing students from attending college. These articles provided information to prove my beliefs that the government has a responsibilityRead MoreIncome Share Agreements ( Isa )1169 Words   |  5 PagesWith student loan debt becoming increasingly worse year after year, new and potentially better avenues for students to finance a college education are emerging onto the market. 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In her article, she claims that the student loan dilemma that is facing a lot of Americans is a problem for your country andRead MoreStudent Loan Debt: Is it worth it?1364 Words   |  6 PagesStudent Loan Debt: Is it worth it?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Many high school students are beginning their senior year and have already started to stress about how they will pay for their higher education. Although many students will have scholarships and financial aid, a lot more will struggle to pay for schooling and will have to take out multiple student loans. Many people wonder if higher education is worth the debt the country and the students are in and it is, however, there are alternatives.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Read MoreThe Problem Of Student Debt Crisis1592 Words   |  7 Pageswould 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 affectingRead MoreStudent Debt Is A Significant Social Problem Essay1297 Words   |  6 PagesExamining Student Debt When we think about college and a college education, it seems as though our first initial thought is the student loans and debt that can result in achieving a college degree. Looking back, student debt has risen drastically and has made it extremely stressful for students and families. Many people go through their entire life in debt, especially from being a student. Student debt has always existed; however, now, it is so extreme, almost all students who attend college findRead MoreThe Role Of Federal Loans Became Dependent On American Families1455 Words   |  6 Pagescostly. The use of federal loans became dependent on most American families that try to provide such an education to their child. Before World War II, academically advanced students from families that were unable to finance college could apply for competitive scholarships; Scholarships mutated into â€Å"financial aid† when the GI Bill of Rights financed college for the discharged veterans (Toby, 2010). Since then, student loan debt has surpassed $1 trillion, which is larger than debt accumulated from bothRead MoreEducation : A Way Of A Better Life?1615 Words   |  7 Pageshigher education in the United States is to take out student loans. Although student loans can be helpful in getting an education they can also be very burdening. Even as student debt is being seen as harmful to several individuals, there are people in the world that are benefitting from the acquiring of this unique type of debt. The sad reality that we live in is that not everyone in this world is educated. Though there are many reasons for why everyone doesn’t have an education the main reason that