The Student Loan Crisis: The Myth Of The Student Loan Crisis

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The student loan crisis is not a myth considering the average debt of a college student is equivalent to someone buying a new car. Students today average a debt around $23,000-$33,000 along with student debt rising to $1.2 trillion ("Heaviest U. Debt Burdens Fall on 3 Types of Students"). The rise in student loans have proven not just a problem for students but also an economic and political problem. College debts also have frightened the future students into not applying for college. Almost half of all adults 18-34 cannot afford the price of college anymore ("Here 's Your Crisis: Student Loan Debt Isn 't a Myth"). Those who do go to college most likely cannot start a business or continue their career path because of the extraneous debt they …show more content…

Most students will acquire a huge debt in college forcing them to find a job or multiple jobs to support themselves. In the study, “The Myth of the Student Loan Crisis” it disagrees that student loans are a problem, but the numbers of students who have earned a degree and do not use it in their field of work is astronomically growing. Student loans are causing people to have to settle for low-paying jobs, because they are having to pay month to month. Per a study by Jesse Rothstein most people with college loans will have a low-paying public job like waiting tables or becoming a secretary. People go to college and major in a subject because they want to love and be successful in their job. The debts they acquire push them away from their dreams and into a mountain of debt that some people never recover from. This will also stop people from buying houses, cars, and other any luxuries they might have …show more content…

The student debt crisis led to most people not buying houses or other purchases to help the economy grow and develop. Student loans seem to perpetuate economic problems in many ways. Such as if student debt continues to increase the opportunities for young entrepreneurs and future graduates will be limited. A multitude of kid’s parents will tell them to do well and school so they can go to college for free. Most parents believe college is key to success in this society. Without these opportunities for these tremendous and hardworking students the chances for them going to college is slim. The student loans have been a sufficient payment to the government, but with it so high the money might stop coming to the government all together. With so many students scared of future loans the government could lose money. Even if more people accept the loans only 37% are paying on their loans today ("How Student Loans Could Cripple the U.S. Economy"). With no payments coming in and the future of less money, the economy may weaken and the country will slowly sink into more

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