Both in public and private universities, universities’ tuition is one the rise in the United States. Employees with skills acquired in a post secondary education, are highly covert by companies. The College education demand is peaking in the United States. Today more than ever, college education is seen as a necessity to guarantee a solvent financial future. How would students with low income afford a product, which is so essential? The answer is student loans. A form of credit designed to help students pay their tuition cost. Nevertheless students are more in debt than ever. The complex and predatory nature of this form of credit, aim at people with unstable incomes and low to none asset network, are making people question. Is it a good investment acquiring high levels of debt to afford a college education? People being in debt, are unable to enlarge a network of assets. Nevertheless college education pays off at the long run. While student debt, affects the acquiring of assets due to income being used to repay the debt, evidence presents over the half of jobs by 2020 will require a level of postsecondary education, and people with a college …show more content…
Higher skills are acquired at a post secondary level of education. According to the article, “Recovery; Job Growth and Education Requirements Through 2020” by Anthony P. Carnevale, Nicole Smith, and Jeff Strohl, 65% of jobs in the United States by 2020, will require a level of postsecondary education (Carnevale,Smith,Strohl… 2013). Going into specific in their research; 35% of the jobs opening will require a bachelor degree, and 30% will require some college or associate's degree (Carnevale,Smith,Strohl… 2013). According to the data offered by the article, back in 1973 only 28% of jobs required a postsecondary education (Carnevale,Smith,Strohl… 2013). The demand of college education in jobs has increased over 100% from 1973 to
When coming to college your whole money situation changes, suddenly you're bombarded with housing costs and student loans that you have to pay back or you will spiral into debt. Your whole life changes you don't have your parents paying for your voluptuous wants and needs, you’re on your own. The move from high school understudy to college undergrad is a standout amongst the most upsetting and essential times in an adolescent's life. Not only is your day to day life going to change but your spending habits have to change. The school years are a period where a high school student leaves their support team behind,
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.
The second chapter of this book advocates students to attend college, even if they must take on a moderate amount of student loan debt. They give statistics showing the tremendous gap in wages between a college graduate and a non-college graduate. The third chapter of this book argues the opposite viewpoint of the second chapter. The author states that the cost of college today is too high and that there are too many college graduates flooding the job market causing many of them to go unemployed or seek low level jobs that do not pay enough to pay off their student loans. Both of these chapters will help me to show the two main ...
When it comes to achieving success in the working industry and accomplishing a successful career an education is important. Getting a degree is essential to be successful. The issue is the higher the education the person wants the higher the cost is. Nowadays, not everyone can afford paying out of pocket for an education, which mean that students are forced to take out large amount of student loans to achieve that degree. Student debt is an ongoing problem, students are gaining oversized debts that most of the time if not ALL are defaulting and jeopardizing future credits. How much debt it too much debt? Everyone should have the liberty 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
When starting college every student must make a very important decision. Whether if they want to get financial aid or to pay the money up front. Having college debt will not only ruin their credit, but he or she may also have to pay off their tuition for the rest of their life. Research says, “According to the College Board, which tracks students’ financing of higher education, undergraduate students in 2013 through 2014 borrowed in the aggregate nearly $63 billion and received $33.7 billion in Pell grants.” By this quote from “Debt, Merit, and Equity in Higher Education Access” it clearly shows the effects College Debt has on their society, but also on their educational future. Every paycheck they receive, a small portion goes toward paying
College debt is a universally known issue that remains one of society’s largest burdens today. Over the past ten years, high school students and graduates realized that they must seek a higher education in order to find a job that keeps food on the table. Attending a college or university is practically required in order to succeed in life today. Millions of people seek a higher education to pursue a degree, graduate, and acquire a quality job that supports their everyday needs. It often means a lot of money to pursue and earn a degree nowadays. What they don’t realize, is that paying their tuition and housing deposits is essentially signing a contract, costing them thousands of dollars in the near future and leading them down the dark path
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...
The burden of student loan debt is significantly impacting financial decisions of individuals and families from investing in home purchases, saving for retirement, and their children’s education. Ultimately, these financial decisions are negatively impacting the growth of American society and economy. Without haulting the increasing costs of tuition and streamlining lending practices, student debt will only continue to increase and drag society down. Student loan debt is hindering the economic growth of the communities the individuals and families, carrying debt reside in.
The liberal progressive media that currently seems to be dominating our national news networks we seem to be finding ourselves at pinnacle topic of discussion. That pinnacle point is that of Institutions of Higher learning and the rising cost of education. The cost of for attending these “institutions of higher learning be it a college or university do not come with a cheap price tag. The implication of attending has directly resulted in the rise of student debt that is acquired via the financial products called students loans. In order to understand the massive problem that we have we must first journey down the path in history of what is considered by many a dark and low time in this nation's history, the 2008 housing crisis.
As people of many ages wish to further their education outside of high school, they tend to take out student loans in order to fulfill this wish since the large tuition payment is not in their budget. Paying for an education that presents a degree seems easy to many by taking out large loans to pay for their education. Recently, student loans have challenged the economy of Americans. Education is perceived as a necessary expense to many, in which they do not mind putting a burden on the economy for. Many people believe those loans can be paid off in a matter of a couple years. However, this idea is misguided as many people do not pay their student loans off until their early forties.
In recent years, 70 percent of students graduated with student loans. The average 2016 grad holds $37,172 in student debt, according to calculations by student loan expert Mark Kantrowitz. This is an issue that deserves attention because it be couldn’t be anymore relevant to what college graduate students are going through today having to pay back student loans in order to attend college and college loan debt continues to rise as educational institutes continue to raise their tuition costs. College loan debt negatively affects many lower income college graduates and will have effect those who will attend college in the future which in the end will lead students down the road of financial failure and leave them with limited options of work in the future. Student debt continues to increase.
Although education can be expensive, an affordable education makes better citizens. In fact, most people believe that going to college improves the chance of finding a great job, but the effect on society is often not considered. Seeking a higher education, often seems too expensive and the paperwork too complex, therefore many people do not consider attending. In the article “Here’s your Crisis: Student Loan Debt Isn’t a Myth”, Chris Lewis and Layla Zaidane commented “it 's an affordability crisis”(). As our nation ages, education must become more affordable for all because with educated citizens our country becomes financially sound, our citizens become more knowledgeable and their communication skills are better developed.
The ability to gain a degree in any field of study is highly important in American society, possessing skills and knowledge over your job emphasizes the significance of higher education. Especially, for job promotions that would cause someone to make more than their fellow colleagues. In our increasingly competitive economic society, having the minimal of a high school diploma is not enough to provide financial stability nor will it help to compete in a workforce in which the best-educated are the ones that are rewarded the most. Therefore, higher education is a crucial necessity in order to move up the socioeconomic ladder and qualify for higher paying jobs. The rising costs of college, however, is making it harder for Americans to obtain