College Education: Degrees Outweigh Debt Essay

College Education: Degrees Outweigh Debt Essay

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The average college student acquires over $29,000 in educational debt. The debt of American college students has been steadily on the rise. Tuition has been increasing while the average American families’ income has been decreasing. Some students qualify for federal grants; however, the majority of money used to pay for college is debt that has been borrowed from private lenders. Students who qualify for federal grants must still depend on private lenders to fund their education. “Seven in ten seniors graduated with student loan debt, and a fifth of that debt was owed to private lenders, which often charge higher interest rates.” (CNNMoney) Most students enroll in college to better their lives, provide a more stable environment for their families, or purely to obtain an education to lead them towards a career. Along with the fiercely sought after degree, unwanted debt incurred by the student follows.
Steve Sack, an editorial cartoonist for the Minneapolis Star Tribune, has captured the look of pride and achievement of the faces of newly graduated students. The creator of the visual argument has ironically linked the joy of graduating with the fear of overwhelming debt. With hands raised and heads held high, the graduates look towards their bright and promising futures. The unsuspecting students are then met with the weight of the debts that have accumulated throughout their college years. According to CNN Money, the job market has not recovered enough to offer all new graduates employment; consequently, many graduates are left without sufficient income to begin repayments of their student loans.
The unfortunate accumulation of debt while obtaining a college degree is, in most cases, is unavoidable. However, the payoff is well...

... middle of paper ...

...ere are many benefits of obtaining a college degree; consequently, there is also a financial burden of repaying the student loans used to secure the degree. I believe that individuals who can navigate their way through college can certainly navigate their way out of debt.

Works Cited
Cohn, Scott. CNBC. 1 Mar. 2011. Web. 9 May. 2014. .
Ellis, Blake. “Average student loan debt: $29,400.” CNN Money. Time Warner Company, 5 Dec. 2013. Web. 9 May. 2014. .
Hayes, Abby. “4 Ways to Avoid Being Crushed by Student Loan Debt.” U.S. News. U.S. News & World Report LP, 17 Jan 2014. Web. 9 May. 2014. .
Web. 9 May. 2014. .

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