In Cpcc’s online opposing viewpoints essay, “Student Loans”, it is argued that the methods of taking care of student loans have issues. The essay starts by making a point that borrowers get overwhelmed with debt. Consolidation would sound like a help, but really all it does is create more debt because it makes the payment period longer. The longer you wait; the more interest you accumulate. Then, the viewpoints in the article on student loans acknowledges that the government will continue to go even deeper in debt if no one repays their loans and gets saved by recovery acts. The essay ended by emphasizing that there is no way of getting away when you borrow. In the essay, I will argue that since loans are over burdening college students with debt, there needs to be more avenues to help them pay for education. Overburdening loans of college students is a mind boggling issue. According to Bigelow, “37 million current and former students in the U.S. are now burdened with a total of $1 trillion in student debt, and they are finding it difficult to reach the lifestyle they dreamed of” (1). This is an issue that will probably never be solved completely, but it can be dealt with. If it is dealt with in a proper way, it …show more content…
Cary stated, “A whole generation of middle-class students are being crushed by student debt” (3). If you were to go to a community college for at least two years that would have a big difference in the amount of student loans you would have to pay back on a four-year degree. While many look down on community colleges the education is just as complexed as a public or private university. A free education would also give many more people a chance with a higher education. Some actually want to further their education but know that they or their families couldn’t afford any of it. Free community college could be a huge stepping stone for many, and could definitely save some
Martin and Lehren’s article “A Generation Hounded by the Soaring Cost of College” addresses the issue faced by current and former college students dealing with large amounts of debt due to student loans. The article presents the reader with stories of former college students who have either graduated or dropped out, and their struggle to pay off their student loans. The article also talks about issues such as students not being informed about high amounts of student loans and why student debts have increased. Martin and Lehren also make the issue of student debt more intimidating by giving examples of high amounts of student loans students have had. The article gives a very hard reality check to anyone reading as to how bad the problem of student debt is.
In the argument, Debate on Student Loan Debt Doesn’t Go Far Enough, author Robert Applebaum, graduate of Fodham University School of Law, asserts that excessive student loan debt should be forgiven after a reasonable repayment period and suggests this would stimulate the economy because former students would have more money to spend(Debate). He backs up this claim by introducing the Student Loan Forgiveness Act of 2012, contending that education should be a right that people of all classes can benefit from, and addressing both the individual and the economic drawbacks of student debt in the middle and working classes(Debate). Applebaum
In recent years, there has been a tremendous increase in student enrollment in higher education after high school effecting the need for financial aid for all students. Education has become a growing part in America where more students want to better their lives with a college education. However, the cost of college tuition has increased and more students find themselves struggling to pay off the enormous tuition rates. In a recent study by the Consumer Financial Protection Bureau, student debt has reached $1 trillion in federal loan debt. Student loan debt has crippled the economy and students are struggling to pay off federal loans. In order to help students with the high tuition rates of college the government and universities offer
According to Trade Schools, Colleges and Universities “Many of America's top-performing high school students never apply to the most challenging colleges and universities even though they have the ability to succeed at them. They often come from minority and low-income households and end up pursuing more affordable, less-selective schools instead.” College can be a burden to many students in a variety of different ways, but the most common reason is due to funds. Making college free for students will help this problem by increasing jobs in the work industry that require degrees, they should be affordable to all people at all cost, as well as the funds should be completely cut off because it would increase jobs and help America's economy grow.
First, free college can encourage students to go to college to get a degree which leads to a high paying career. It can fulfill those students that are having a hard time financially, and fewer students will be in debt. Second, with free college, colleges will be more likely to help students that need the guidance to stay on track and get a diploma. Clayton and Bailey mention, "If we want to significantly improve educational outcomes, we need to make college more affordable so more students can enroll, and make the reforms needed to en-sure community college students can succeed in their courses, complete their program, and grad-uate within reasonable amount of time" (Clayton and Bailey). Finally, free college can help the U.S. catch up to the rest of the countries with higher education. For example, it can help the United States surpass Russia, where more than half of adults have a diploma. Frohlich explains, “More Than 53% of Russian adults between the ages of 25 and 64 had some form of higher edu-cation in 2012, more than in any other country reviewed by OECD” (Frohlich). Although free college is an attractive idea, it will leave the United States in a bigger debt which will be hard to recover from and more students will be unmotivated to
Should community college tuition be free? Walter G. Bumphus, the President/CEO, American Association of Community Colleges, believes so. According to him, “The Obama administration's proposed America's College Promise plan stands to increase access to these educational opportunities and is a crucial investment not only in the future of these students, but in the country's future… America's College Promise proposal for “free” community college is not a handout. Rather, it is an investment in education and would have substantial economic and social benefits.” Bumphus states the cost for investing in this proposal would be less than 10 percent of the Department of Education annual budget, and “less than 3 percent of all annual federal expenditures”.
To understand the student debt crisis, one must first understand what caused it and what results from it. College undergraduates use student loans to finance the cost of tuition, room, board, transportation, and personal expenses while attending (Gage and Lorin). Student loans are different from other forms of debt because basic consumer rights like bankruptcy protection don’t apply to students who default on their loans. As a result, students are virtually locked into their debt, offering them little to no ability to refinance it. Solutions to debt problems like consolidation are available to students but that process doesn’t involve shopping for a better deal from competing lenders like it does in other debt areas. Therefore, interest rates often remain high and the loans remain with the original lender (Vanegeren). As Kayla Webley expl...
Most people today accept the debt that comes from college. Students consider student loan debt as a “good debt.” They see other students make this mistake but follow their path anyway. Nearly 80% of college-bound students have not projected the total amount of money they will need to graduate college.
Student loan debt makes up a large portion of the debt in this country today. Many defaulted loans are the demise of high interest rates, poor resources to students in educating them on other avenues and corruption in the governmental departments that oversee education and financing. There are many contributing factors that lead to the inability to pay off student loans which need government reform to protect the borrower’s best interests.
It is a norm and expectation in society today for students to pursue higher education after graduating from high school. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all time high with so many people graduating from college, and having difficulties finding jobs in their career fields, so they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.
Children of the twenty first century spend nearly 13 years in school, preparing for what is college, one of the only ways to achieve the so-called “American Dream”. College is the best way to start an advanced career and go further than one possibly could if college degrees were not available, allowing people to achieve their view of the American Dream; whether it be large houses, shiny cars, multiple kids, or financial comfort, college is the stepping stone to achieve the American Dream. But all great things come with a price, college dragging along debt. Students who attend college struggle to find ways to pay for it, leading to applying for student loans. These loans a great short term, paying for the schooling at the moment but eventually the money adds up
What if one day the tuition of your community college was to become free? If you couldn 't afford college would you go? That’s exactly what President Obama is trying to propose in his State of The Union speech on January 20th 2015. In his words he claims “to lower the cost of community college, to zero”. I am a community college student freshman at Frederick Community College. Being a community college student I value my education and feel if this new proposal is to be put in place there will be people who don’t want to be there just like high school. Community college is something that runs in my family as my two cousins have attended a junior college in the past. I am in my first year at community college and can say that it is a lot different from high school as far as the expectations and work load. There are essentially some problems with this new proposal. Once I heard that President Obama
As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements). The debt will only continue to grow with neglect, so the most effective action to take would be eliminating the cost altogether.
With the ever-increasing tuition and ever-tighten federal student aid, the number of students relying on student loan to fund a college education hits a historical peak. According to a survey conducted by an independent and nonprofit organization, two-thirds of college seniors graduated with loans in 2010, and each of them carried an average of $25,250 in debt. (Reed et. al., par. 2). My research question will focus on the profound effect of education debt on American college graduates’ lives, and my thesis statement will concentrate on the view that the education policymakers should improve financial aid programs and minimize the risks and adverse consequences of student loan borrowing.
While the idea of free college is often seen as beneficial only to the wealthy, college should be free for everyone because going to college could once again be seen as a choice instead of a financial problem for many households, people could also better understand others that come from different backgrounds, and there are more