College Debt Is Crushing a Generation of Students

1401 Words6 Pages
Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans. Many students expect to immediately get a job after graduation, however, in more recent years the chances for college graduates to get a well paying job isn’t nearly as high as it used to be. Because students can no longer depend on getting a job fresh out of college, it has become harder to repay the loans. Without a steady income, these individuals have gone into debt and frequently default loans. If nothing is done to stop colleges and universities from increasing the cost of attending their school, the amount of time it takes for students to pay off their loans will become longer and longer. The extreme expenses to attend a college or university may leave a student in financial distress: which may ultimately lead to hardship in creating a living for them and affect the country’s economy.
The cost of college tuition continues to increase each year. If this keeps increasing the way it has been, students will be indebted the rest of their life. Author of “The Looming Student Loan Crisis”, Jackson Toby states that student loans have increased along with the increase of tuition costs. In 2004, the average unpaid student debt was approximately $18,650...

... middle of paper ...

...Tables & Calculators by Subject." Bureau of Labor Statistics Data. Web. 24 Nov. 2013.

Dwyer, Rachel E., Laura McCloud, and Randy Hodson. "Debt and Graduation from
American Universities." Social Forces: 1-38. Web.

Ross, Andrew. "Mortgaging the Future: Student Debt in the Age of Austerity." New
Labor Forum 22(1).23-28 (2012): 23-28. Proquest. Web. 16 Nov. 2013.

Sabhlok, Raj. "Student Loan Crisis Solved -- Next Problem?" Forbes. Forbes Magazine, 14 Dec. 2012. Web. 28 Nov. 2013.

Stiglitz, Joseph E. "Student Debt and the Crushing of the American Dream." The
New York Times 12 May 2013: 1-5. New York Times. 12 May 2013. Web. 16
Nov. 2013.

"Student Loan Debt Taking tolls on Marriages." CBS Miami., 12 June 2013. Web. 20
Nov. 2013.

Toby, Jackson. "The Looming Student Loan Crisis." The American: The Journal of the
American Enterprise Institute (2013): 1-4. Print.
Open Document