Analysis Of Robin Wilson's Article A Lifetime Of Student Debt

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Robin Wilson’s article A Lifetime of Student Debt? Not Likely (2009) outlines the key issues supporting and refuting the increasingly popular sentiment that student-loan borrowing is threatening the financial future of today’s college students. Wilson cites arguments presented in key books, news articles, and television shows, and summarizes the degree to which each portrays “poignant, painful stories” of young college hopefuls that have since become anchored in debt, (p. 257) before employing the works of empirical studies and academic scholars to refute these sensationalized stories. One such work cited is that of Michael S. McPherson (2004), an economist and president of the Spencer foundation, who articulates the notion that “most people …show more content…

(p.256) Wilson’s central claim represents a synthesis of the two extremes, and can be summarized in the sentiment that college is worth borrowing for as long as there is an affordable and sustainable option available.
Wilson first begins with a presentation of those campaigns that voice contradictory opinions often expressed in the sensationalized stories, each marketing the underlying notion that student-debt as a national crisis. (p. 256) Student-debt advocacy groups like the Project on
Student Debt, are not refuting the value of a college education, which is in fact supported by data from the United States Census Bureau which details how on average college graduate earned more than $20,000 in 2007 compared to the average high school graduates. (p. 260) Instead these
Running Head: A Lifetime of Student Debt? Not Likely controversial groups voice three key arguments: (a) that college is not affordable, (b) that the
Martin 4 financial risk is greater than it used to be, and (c) that financial difficulty is further compounded by the limited resources available to students attempting to make the right decisions with …show more content…

Alan M.
Collinge (2001) the founder of student loan justice, details his personal struggle with over borrowing in his publication The Student Loan Scam. Collinge portrays himself as an example of the minority, the margin of college graduate that fell victim to the over borrowing trend. (p.262)
Collinge borrowed approximately $38,000 in student loans, graduated from an undergraduate program and a masters program, and ultimately accepted a job with a $35,000 yearly salary. It wasn’t until Collinge fell victim to a series of unfortunate events that he was faced with the grim reality of not being able to make ends meet. (p. 262) The very real problem that Mr. Collinge and other over borrowers face is that when they are faced with unforeseeable events and financial hardship, the only option available to ensure that they can afford their monthly mortgage is to defer their loans. Whether the decision is made because it seemed like a sound idea, or whether it was the option available, in actuality student loan deferment holds borrowers hostage with its hidden and perpetually festering interest rates. (p.

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