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Effects of student loan debt essay
Issues with student debt
Issues with student debt
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“There are approximately 37 million student loan borrowers with outstanding student loans today.” (asa.org). Seems to be a ridiculously high number, except for when the fact that “…12 million (people)… borrow annually to help cover costs.” (asa.org). This means that 12 million people each year dig themselves just that much deeper into debt. When speaking of college, every year is another leap and another bound into a debt that will take years upon years to pay off. This seems to raise an important question; is college just a debt trap? College may truly not be the best option for everyone in today’s society.
Most places of employment in this day and age find the appropriate college diploma to be a very vital, or even required, during the hiring process. However, there are jobs that do not see a college diploma as necessary. For example, many musical career options do not need any sort of college education. The musical career field has been a thriving field of employment for centuries, growing and forming as technology becomes more extensive. Because the technology has expanded more and more, so has the list of available job positions in the field.
As a performing musician, these job positions caught my attention. Especially considering that I’d rather not become consumed by the debt bestowed upon those attending college. However, what I’ve learned through my extensive research is that there are so many more contributions to recording a single song, or performing a single show, than what is actually seen or heard. And each of those contributions has a job opportunity in itself. Some of these jobs, such as a recording technician, do require some sort of training or certain qualifications to properly carry out the tasks assigned t...
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...there’s no actual need to put yourself into debt, then don’t do it.” At least this once, I’m going to listen to my mother’s words and not put myself into debt. I have no needed for a higher education past high school, and I believe I can do what many others before me have done and make my dreams reality in my own way. I will prove anyone who tells me I can’t make it with the “big leagues” of music wrong one day.
Works Cited
Desenne, Michael. “Most Expensive U.S. Cities to Live in.” Kiplinger. Web. 16 May 2014.
“Kurt Cobain Biography.” Biography. A&E Television Studios. Web. 16 May 2014.
Lankford, Ronnie D., Jr. “Kings of Leon Biography.” Musician Guide. May 2006. Web. 18 May 2014.
“Student Loan Debt Statistics.” American Student Assistance. American Student Assistance Web. 17 May 2014.
Triangle Tech. Welding and Fabrication Technology. Print. 2011.
The Entertainment Industry is an expanding industry with numerous career opportunities especially for the quick learning students in today’s world. I chose to study the entertainment industry because I have always had a passion for it. I grew up with music always playing on the radio and if the radio was off, the television was tuned into some show. I know many people listen to music and watch television all the time, but there is so much more to this industry. Being so passionate has led me to studying specific things in the industry and learning the ins and outs of it, which is helping me to find a potential career. There are many people in the industry that I look up to and one person, who has made it in particular, is Debra Rathwell.
...truth. today’s job market is fiercely competitive. With unemployment at an all time high, it is near impossible for one to find a job with or without a college degree. Hundreds of layoffs and fewer openings can really make it hard on those who have just graduated and are trying to find a career. Just because you have a college education does not guarantee a job, or job security. It just makes you a better candidate.
In the article “The Case against College,” Linda Lee argues that upper-level education should only be for those who intend to go into jobs where a degree is essential such as medicine, law, and education. Lee dismantles the hope for higher education for those who are unsure of what they want to do or simply see it as the next step in life. Lee’s case is not specifically about why not to go to college; it is more about who belongs there and who does not. Receiving a degree, especially in the creative department of the music industry, may not be as important as society makes it out to be. Creativity is natural, and people are born with ingenuity; it cannot be taught. Lee’s argument is very fitting to those in the field of music. As a music business major, pursuing a career as a singer-songwriter, it is common knowledge that success in the music industry depends upon whom you know and how talented you are, not whether or not you have a degree.
In “Should the Obama Generation Drop Out?” Charles Murray talks about how a college degree now days, is looked at higher than it should be when it comes to meeting the qualifications for a job. Most jobs that pay over minimum wage will require you to have a college degree, making it very difficult for people that either can’t afford it or do not believe in it, to get a reliable well paying job. Like Barack Obama said “It’s what you can do that should count when you apply for a job, not where you learned to do it”(Murray 97); a large amount of people have the skills for a job but do not have the degree to show for, making them not qualified for the job. Companies will not even give you an interview if your resume does not have any type of degree on it. That situation makes life very unfair for multiple individuals. There should be some kind of certification test for applicant to take to see if he or she meets the skills needed for the job. The benefits of discarding the bachelor’s degree as a job qualification would be huge for both employers and job applicants. Therefo...
If more people went to college, and less went the vocational route, jobs will take a momentous hit. Today, companies will not even touch an application that does not include a Bachelor’s Degree; even if the Bachelor’s Degree has nothing to do with the job being applied for. Attention is not given to whether the hopeful applicant qualifies for the job; all that matters is that the applicant has a Bachelor’s degree. Murray best sums up the American job market when he says, “Employers do not value what the student learned, just that the student has a degree” (Murray). However, if less people obtain a Bachelor’s Degree, employers will be forced to base applicants on their skills, and abilities. Furthermore, important vocational jobs that lie vacant will be filled. Good electricians, carpenters, and construction workers will always be in
and tuition plays a major role in students’ decision for attending college. Students according to a 2008 national survey of roughly 1800 students who qualified to attend college 1000 students of those 1800 did not attend college at all. The main reason claimed by 80 percent of the “non-college-goers” was due to lack of money, more especially not enough grant aid. Although a student was well qualified to attend college having no financial aid made their choice to attend impossible. On the other hand, students who couldn’t receive enough grant aid sought other alternatives to go into college like getting loans. Depending on the amount of years one chooses to attend college it can rack up to an unbelievable amount. According to Edvisors, a financial aid website, “The class of 2015 graduated with $35,051 in student debt on average.” Imagine that! It’s no wonder that the students who didn’t receive enough grant aid chose not to attend college. It was because they did not want to accumulate a debt that in most cases they would have to pay throughout their lives, claiming that tuition cost is too much for
Four-year colleges’ tuition is rising by each year, so college education would be a heavy financial burden for people who pay tuition and housing during school years in debt. They could not afford school and housing expense for various reasons, such as low-income family background, but they still did it by taking loans because they hope that they could gain more benefits by doing such a investment. However, it would not be a wise investment when the person could not clear off the costs of investing, and many colleges graduates would not pay off their students loans in five years after graduation. A famous journalist Edward McClelland says “In a recent survey, 24 percent defined the American Dream as ‘not being in debt.’ They are not trying to get ahead. They are just trying to get zero” (553). Being debt would hold back those people by not achieving all the other goals freely, including their American dreams, and they have to delay everything excepting paying debt first. Certainly, believing that attending college would always make individuals better off is misleading, but investing college education by being debt in ten years would only be
After announcing my decision to a number of friends and acquaintances, I began to encounter not a few misconceptions about the study of music. Many people readily expressed their uninformed opinion that music (particularly vocal performance) was an easy college major for anyone with a modicum of talent: “Just open your mouth and let the music pour out.” Some showed their ignorance by commenting that music majors had both light and easy course loads. There are even some people who refuse to acknowledge that music is a serious academic discipline. They believe music is a refuge for slackers who do not want to tackle the really difficult courses. Others have insinuated
Contrary to popular belief, a college education can help with any job, regardless of whether the job is within a certain major or not. In fact, a college graduate even benefits if they take up a job as a plumber or a police officer- not only from their academic education, but also from learning important skills such as persistence and discipline (Leonhardt). Having a college experience and exposure to the world creates well- rounded people with higher skills and work ethics- and therefore better workers. Though they aren’t immune to being turned down, college graduates are more likely to actually get jobs, and be paid more for them, as shown in a study d...
Field, Shelly. Career Opportunities in the Music Industry. 3rd Ed. New York: Facts on File, 1995.
However, debt is part of life. Without a few ups and downs, being alive would be too boring. Depending on the type of education one gets, college is worth the money; there is an error many students make is go to a university that is beyond their financial means. Jobs that get good pay aren 't that expensive to study for. In fact, classes are offered at a local community college that isn 't very expensive as other institutions.
Much too often in America today, modern music and art programs in schools are perceived to many as extracurricular activities rather than important subjects that are vital to a students learning and skill development. The truth of the matter is that encouraging music and art education in public schools has a much larger impact on student’s grades, academic performance, and the economy than the majority people realize. Within the next year city school budgets will be dropping by twenty five percent, and despite the fact that music and art programs have been showing a dramatic contribution to student’s learning, this substantial drop in funding for the programs will lead to no dedicated money for art or music programs (Mezzacappa). There is no doubt that a cut in funding for art programs will take a huge toll on students overall grades and test scores. Research has found that the studying of music and art facilitates learning in other subjects and enhances children’s skills in other areas (Brown). Furthermore, providing students with a creative outlet can do great justice in reducing the stress from many other classes and even offer insight for students in possible career paths involving the art field. The art industry today currently supports 4.1 million full-time jobs (Dorfman). By increasing the funding of music and art programs for students preschool through twelfth grade we can see a dramatic increase in the education of children across the United States, assist with skill development in young students, and greatly benefit the economy at the same time.
Most people can find a job in their field, but the amount of people who can not find a job in their field is increasing. “Unequal outcomes from college have always been a fact of life, but there is evidence that the dispersion of outcomes has increased” (Haltom). If a person ha a lower income job, it is not always because they did not have a college education. “1 percent of taxi drivers and roughly 3 percent of bank tellers had a college degree” (Haltom). This shows that even though some people have a college education, they could not find jobs in their field and had to take jobs that they less likely wanted. Haltom also says, “as many as 120,000 of the nations 1.7 million 2012 graduates who wanted to work elsewhere took jobs as waiters, salespeople, cashiers, and the like” (Haltom). More and more people with a college education can not find jobs in their field.
“Is College Worth it? Clearly, New Data Says” by David Leonhardt, “The Value of a College Degree” by Emily Hanford, “New study shows the value of a college education” by Hope Yen, and “Is College Worth It Anymore” by Kristen Sturt, all primarily discuss the advantages of a college education and its true value. In the United States, the student debt is over $1.2 trillion dollars. It is the second largest cause of debt following mortgage debt. When the media spends so much time talking about the limitations of a college education, they are discouraging some students from attending college. Regardless of all the debt, attending college and attaining a higher education is the best decision a student pursuing a bright future, could make today.
The reality of life is that it is very possible to make six-figures without a college degree; but when it comes down to the jobs in this world that require the most qualified and experienced individuals, no one can simply walk into these job positions and expect to be an expert. Professions such as doctors, attorneys, architects, scientists, teachers, nurses, etc require certification and a certain level of education. The skills needed to be efficient in these professions can not be simply acquired, they must be learned. Individuals sometimes fail to realize that in a state of emergency within our economy, such as a great depression, certain jobs have the potential of being lost due to the inability to