College Debt And Its Effects On Society Essay

College Debt And Its Effects On Society Essay

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When starting college every student must make a very important decision. Whether if they want to get financial aid or to pay the money up front. Having college debt will not only ruin their credit, but he or she may also have to pay off their tuition for the rest of their life. Research says, “According to the College Board, which tracks students’ financing of higher education, undergraduate students in 2013 through 2014 borrowed in the aggregate nearly $63 billion and received $33.7 billion in Pell grants.” By this quote from “Debt, Merit, and Equity in Higher Education Access” it clearly shows the effects College Debt has on their society, but also on their educational future. Every paycheck they receive, a small portion goes toward paying their college the same college they finished years ago. It’s not worth paying at least one hundred fifty dollars every check when it could have been paid all completely. However, many may not have the same opportunities as others.
To continue with the information from “Debt, Merit and Equity in Higher Education Access” not only does it state that students have received more grants in the years 2013 through 2014. It also states that they don’t use that money for its intended purpose. Many students who have gone to college have said that, that money they receive from grants that they don’t use it for school purposes, but for their personal purposes. Furthermore, from the text “The Debt That Won’t Go Away” it states that student’s in the 2000’s had more debt than today’s generation. “In 2009, the most recent data available, 67 percent of graduates had debt, averaging $24,000 per student, up six percent from the previous year.” It’s not pleasing to pay for something that could have been free to ...

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...l status." Most students can’t pay for college due to personal reasons, but fortunately, they can get help from the federal government. Yet, all students are in a debt situation. Eventually the government will want their money back, which they invested into the students. Nevertheless, all the loans we receive from the government, we have to pay them back one way or another.
Given these points, it will all be worth it in the end. Once they have crossed that stage, the will feel like if their one true mission in life is accomplished. Every student who is going to college wants to make their parents proud, but it takes time and effort to make their dreams come true. Either if they are receiving funds which eventually creates debt that’s not a reason to stop them from reaching their goals. That fact that they are trying to better themselves is something to be proud of.

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