Extreme Student Debt Essay

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Generations of Debt The article, of the extreme student debt crisis, written by James B Steele and Lance Williams, is a disturbing truth fact. The student loan industry is not there to help the students get ahead. Its only goal is to line the pockets of private investors, banks and the federal government.
Jessie Suren and Albert Lord are two whose lives are at opposite ends of this crisis. Miss. Suren is a young woman who took out a loan to go to college, but unfortunately she didn’t get the job of her dreams. She is a college graduate who has to work two jobs to pay off her debt. On the other side of that coin, is Mr. Lord, A retired CEO with Sallie Mac who helps build a multibillion-dollar corporation off the blood and sweat of students. …show more content…

Americans with debt who are not capable of paying may even hide from collectors due to the extreme difficulty this places on them. The government will also garnish your wages and social security checks, making it extremely more difficult for Americans who can’t afford it, no matter their circumstances.
Student debt today is at it’s worse, as it doesn’t matter who you are, your circumstances, or your status; if you have a student loan debt, by default you can’t lose everything. The government will not let you file bankruptcy, as people like Sallie Mac made sure of by paying lobbyists millions of dollars. James P Steele and Lance Williams are absolutely correct in their opinion about the debt crisis. Student debt is way out of control and the private sector definitely, has monopolies over it all. The government would rather receive their 20% of the fee, than invest it in the future of a higher educated American. Yet, it is these fellow Americans, who will probably, one day, bring in a higher level of income in the future thereafter, which in return pays a higher level of taxes. The government is not looking out for the people that are the majority of America, the middle class that represents America, only that of the 1% of the wealth who can give immediate benefit and payment in the hands of the impatient and ignorant in our

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