Alethea Spiridon Generation Debt Analysis

As Nelson Mandela once said, “Education is the most powerful weapon, which you can use to change the world”. I strongly believe in the above quote, as I feel that, the power of knowledge can enlighten the minds of our society which pave the path for continued growth. However, this is becoming too pricey in today’s day and age where the cost of education is directly proportional to the money invested. The more you invest the more returns you reap. One can easily compare the concept of investing in financial markets with investing in education. Both require money and results take time. The main question that arises here is, how much money and from where? Money really doesn’t grow on trees, and to equip us with education and knowledge, we have burdened ourselves with borrowings and never-ending debts that rapidly increase with their accumulating interest. In the article “Generation Debt” by Alethea Spiridon, she makes a strong argument about the increasing debt in the lives of students, juggling between bright future and onerous financial past. Education has become an extravagant process with a lavish price tag. To procure it, we have saddled ourselves with debt, which not only cost huge amounts of money, but a few compromises,

But, it is also the misconceived ideology: “Education is increasingly the good of individual rather than for the good of society” (203) that prevails in our society, “Therefore, the student pays” (204). I refute this idea and believe the opposite. If a person educates him or herself, and then he/she is a value added to society. For example, if somebody studies to become a doctor, then he/she will serve the community, making sure that everyone is hale and hearty; so, if the services of the doctor are shared in the community, then why not the cost of making one? We can infer that, education not only benefits the individual, but also benefits the