How could a nation progress if all brilliant young minds are in debt? If nothing is done about current college tuition rates and other fees, those who attend and obtain degrees from universities will spend the first years of their career in debt. Outrageous tuition rates have led young students to seek federal and private loans, which eventually drown the student in debt. Fortunately, there are many ways to avoid seeking loans and avoid loans completely. Through saving money, applying for scholarships, and attending local schools before larger universities, students can prevent the problem of acquiring college debt. Attending and graduating college with some type of degree has practically become a mandatory investment for one’s own future. …show more content…
When is comes to money, saving for long terms goals is harder than acceptings loans when you need the money. However, is sure beats having to pay back loans years down the road. If one were to work throughout high school and save $6 per hour, he could have a savings of up to $24,960 by the time he finishes high school (Steinberg 1). This is an acceptable solution because it does not affect the student’s academic performance adversely. In fact, “students who were employed actually had a slightly higher average GPA (2.72) than those who weren’t working (2.69) (Steinberg 1). Although this solution seems perfect, there are downfalls. Kids in high school need money to do the things that teens do. If a student were who work throughout high school, $2 and some cents an hour would barely be enough for gas and the food they eat on their lunch break. Throw in other teen “necessities” and the actual outcome would be the student saving $2 an hour and spending $6 an hour that they get paid. Additionally, $24K would only cover about one and a half years of tuition at a private AZ university (National Center 1). Although a practical solution, it is highly unlikely for a student to save that amount without spending their savings on other …show more content…
Community colleges are extremely affordable compared to major universities. Today, most college grads are “working at jobs that don’t require a college degree” (Steinberg 2). This paired with the fact that the same level of undergraduate studies may be completed at community colleges makes attending community colleges that much more appealing. This is a common route for most students; in fact, “61% of new students at Harvard Law School last year had received their Bachelor’s Degree outside the Ivy League” (Steinberg 3). The only negative to this solution is that you don't attend your desired University for all four years. However, the money you save will be more than enough
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.
Many people would agree that our country’s young adults have and continue to incur a lifetime of debt by enrolling in college. It’s become an almost acceptable understanding that if you plan to attend college, you might as well expect to graduate with an enormous amount of debt. Robin Wilson, a reporter for the “Chronicle of Higher Education,” and author of “A Lifetime of Student Debt? Not Likely” suggests student loans are very real and can be life altering.
An education is one of the most important tools a person can acquire. It gives them the skills and abilities to obtain a job, earn a wage, and then use that wage to better their lives and the lives of their loved ones. However, due to the seemingly exponential increase in the costs of obtaining a college degree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. Without question, the increasing national student loan debt is one of the most pressing economic issues the United States is dealing with, as students who are debt ridden are not able to consume and invest in the economy. Therefore, many politicians and students are calling on the government to forgive their student loan debts so that through their spending the slowly recovering economy can finally return to its pre-2008 strength.
Preparing for college before hand is a key role in not paying a student loan debt. Ending college with no debt in key, and doing it with success is a self-bonus. A total estimate of one-trillion dollars is the amount of today’s student loan debt. Students need to see new ways to not be one to fall into this great
Recent research has shown that even if students work full-time they still need financial aid to pay for tuition and books (Carnevale, Smith, & Melton, 2015). Therefore, students’ will sacrifice studying and class time and still have a great deal of debt when they graduate. Unfortunately, these students do not have any other options. They are working out of necessity. For these students to be successful they would need to have career counseling from the college of university. They would also need financial resources that help students pay for college expenses from the state. Colleges and universities could also create programs to assist with finding a job after college. Low-income students are faced with the problem of working too much which can create a cycle that pushes students further into debt without the benefits of a career that they were trying to
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
Community colleges are less expensive than a four-year college. Parents are saving their money from a lot of things especially books because they are coming out of pockets to pay for their children books. Community colleges lecture and online classes are a lot cheaper as well. Going into a four-year university classroom there could be over 50 students. The community colleges have smaller classroom which could be helpful for some students. Their schedule is flexible for those students who have work or kids.
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.
Having the college experience is everyone’s dream, especially High School students who are ready to get out into the world and explore. College is very important for furthering someone’s career, but no one thinks about all the costs and the stress that comes along with college. Tuition fees and costs are increasing more and more each year. Now days it feels like you have to be a millionaire just to attend a good college and get a good degree in what you were attending for. There are some students that do not have a lot of money and live on very little things with their parents, but indeed are very smart and have a 4.0 GPA. Those students are the ones that are unable to attend college if they cannot afford it. College tuition is too expensive,
Everyone knows that going to college and getting a degree is the most effective and guaranteed route to ensure a prosperous financial future, right? College is considered by most to be the best investment you can make in life, but what happens when that investment leaves you drowning in thousands of dollars in debt right after graduation day. This is the situation that millions of college graduates are faced with in 2016. Rising college tuition perpetuates student debt and is on a sharp incline and it seems to have no ambition of ever slowing down. The effect of this catastrophe is felt by millions of families across the country who now question, “is college really worth it?”
Although a college education grows more and more expensive every year. People begin to question whether college is a good idea to invest in or not. “As college costs continue to rise, students and their families are looking more carefully at what they are getting for their money. Increasingly, they are finding that the college experience falls short of their expectations”(Cooper. H Mary). Many people believe that the cost of a college degree has outstripped the value of a degree.Studies show that a college degree will increase your earning power. A lot of people say that a college degree now is worth what a high school diploma was wor...
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.
This is only taking into account the savings from people that graduate from high school. Not to mention there are also huge financial gains by paying people to get good grades. High school and college graduates are more likely to contribute to the national GDP and less likely to rely on social welfare programs. These savings are fantastic.
To combat the skyrocketing costs of a college education, I have worked hard to save through odd jobs while juggling the rigors of school and community service. Unfortunately, the amount I have saved is nowhere close to the total amount I will need to pay for tuition. Accepting that reality has made me realize that attending a public, in-state college would allow me to graduate as debt-free as possible. According to the Federal Reserve, Americans currently owe close to $1.5 trillion dollars in student loans.
It has been debated for years on whether getting a job while in high school is valuable for teenagers or detrimental. Students should be compelled to earn and use their own money to become