Essay On Student Debt

For many people in the United States, going to college is considered a rite of passage. However, in recent years with student loan debt increasing, many believe that college is actually not the way to go anymore. Those who think that college is not a worthwhile investment are simply choosing to ignore the facts. A college degree in Americas today is becoming more and more necessary to be successful in the workforce. Student loan debts often intimidate people into believing that college is not the right path for them, but in today’s economy, a college degree is paramount. Obtaining a college degree is as critical as ever. In fact, more and more jobs require a college education each year. “According to studies based on economy and job projections calculated by Georgetown University, in 2018, approximately 63% of jobs will require some kind of college education or degree (Is a College Education Worth it?).” In just three short years, well over half of the jobs available to the work force are going to require a certain level of post secondary education, and that

They claim that the amount of debt student loans bring will not be repaid by having a degree. However, that couldn’t be farther from the truth. Even though the average student borrower graduates with $26,000 of debt, it is still more financially beneficial to have a college degree (Is college education worth It?). According to a paper published on the journal Science, the actual cost of a college degree is negative $500,000 (Leonhardt). In the long run, college is going to make you money, and not attending college is going to lose you roughly half a million dollars. The upside of a college degree is far greater than the downside of student loans. It is true that student loans can be quite pricy and intimidating, however it is not true that they outweigh the benefit of a college