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Essays on student debt
Issues with student debt
Issues with student debt
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School is something from day one that our parents and society are preparing us for. You go through elementary school learning the basics for school. Moving onto high school where you then in the four years there must make one of the biggest decisions of your life: what do I want to be when I grow up. Once you choose what you are going to be when you grow up you apply to university and college. One thing though that you are not told when your younger is the expenses of school and saving money towards it. You are always told that you need school and you have to go to school. But never how expensive school really is in Canada especially in Ontario. As easy as it sounds to get an education to get a good job, it really is not like that there are other factors. As much as people say money is not everything, yes in some cases this is believed to be true. But the really question is, is money really not everything? When you think about it, we need money, whether we want to admit it or not. Nowadays you need an education to get a half decent job it is not like years ago where a high school diploma was enough. To get that education you need money and a lot of it in Canada. But there are barriers to being able to afford an education and it results in high amount of student debt. Some people are not able to attend post-secondary education because they do not qualify for funding. Why as a society are we forced to pay thousands of dollars in education, when we have no choice but to attend because we need a career? Other countries around the world do not have this problem with student debt so why does Canada have to.
Government funding and student loans are one of the great solutions to be able to afford to go to school. In Ontario people have...
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...l be a lot less stressful, education is the key. Let me tell you what your parents will tell you. Make me proud. Increases your chance of getting a job, provides an opportunity to be successful, your life will be a lot less stressful, education is the key,” (2012). Our whole lives we are told to get an education but never how to finance for it. Well it is time for the Canadian education system to look at the above problems students are having to finance school. They need to start taking a closer look at European countries and the reasons why they can make education afford and what they need to do differently. There is definitely a way to change the system it is just a matter of taking the action to do so. So I leave it with you how long before students cannot afford to go to school at all? Or before student debt takes up the majority of their lives to pay it back?
In all colleges in the United States, students are required to pay for their classes’ tuition either by themselves, their parents, guardians or a scholarship that they may have. The average tuition fee for an individu...
In recent years, there has been a tremendous increase in student enrollment in higher education after high school effecting the need for financial aid for all students. Education has become a growing part in America where more students want to better their lives with a college education. However, the cost of college tuition has increased and more students find themselves struggling to pay off the enormous tuition rates. In a recent study by the Consumer Financial Protection Bureau, student debt has reached $1 trillion in federal loan debt. Student loan debt has crippled the economy and students are struggling to pay off federal loans. In order to help students with the high tuition rates of college the government and universities offer
Opponents of free post secondary education tend to believe that the establishment of free post secondary education will never happen because it will be too expensive for the federal and state governments to maintain in long-term. As a result, free post secondary education can lead to a great impact on Canadian economy, students’ success in life and environmental issues.
de Broucker, Patrice. 2005b. Without a Paddle: What to do About Canada's Young Drop-Outs. CPRN Research Report. Ottawa: Canadian Policy Research Networks. October.
Once a person graduates from high school they are left with a difficult decision, wither to go to college or not. Some families this is not an option, their kid will go no matter what, but many students do not want to go to school and have so much student debt by the time they finish that they will have to pay off that they decide that college is not worth it. According to Craig Smith in his article in Education Digest he says, “too many families cannot afford to send their children to college so the student is left with making the decision on wither to go to college and collect debt or just skip college altogether” (Smith 42). He has a good point. Too many students feel like they have to pay so much yet they are not really getting much out of it. Smith later on in his article states, “We must stop balancing our state and institutional budgets on the backs of students and families” (Smith 46). School should not be all about money, it should be about helping the students get the education that they need so they can make it out in the big world. If a student is so worried about how they are going to pay their school bill they are not going to be focusing on their class work and it ...
I was raised by different parents than my older siblings. They weren’t different parents biologically, they were different parents economically. For years they struggled to get by with very little education. But once their children were all in school, they decided to make a change. A few years before I was born, my parents earned their college degrees. What this meant for me was a world of security, provision, and opportunity that far surpassed that of my brother and sisters. My story is very similar to that of Angela Whitiker, a former single mother who effectively pulled herself and her family out of poverty by achieving her nursing degree. Her movement from the projects to the middle class is a feat to be admired. But what gave her such upward mobility? And why is it that in our society so many seem to lack it?
There is no escaping the fact that the cost of college tuition continues to rise in the United States each year. To make it worse, having a college degree is no longer an option, but a requirement in today’s society. According to data gathered by the College Board, total costs at public four-year institutions rose more rapidly between 2003-04 and 2013-14 than they did during either of the two preceding decades (Collegeboard.com). Students are pressured to continue into higher education, but yet, the increasing costs of books and tuition make us think twice. Sometimes, some of these students have to leave with their education partially finished, leaving them with crushing debts.
The student loan "debt has passed $1 trillion... Nearly 20 percent are in default on their student loans" in the United States. Many schools and jobs encourage students to further on their educations but how could students keep up with the total cost of college? Ironically, a strong educated workforce is what will help maintain America in shape but college prices have been going nowhere but up. This can create a strong effect on many of the younger students thinking about attending college, "today 's teenagers might be experiencing more and more "financial anxiety" and aversion to debt than previous generations."(Jake
The higher education system (or lack thereof) is not serving the country and its citizens. The increasing number of admission standards, exponential tuition increases, the financing of the cost through loans, and the boasting of turning students away all contribute to rising disparity between the quality of education that upper class families can afford compared to lower and middle income families. The rising costs of higher education in this country are problematic in that they fuel a disparity between economic classes. Capitulating the problem is the amount of debt college graduates have accrued at the time of graduation. The Institute for College Access and Success (2013) reported that 70% of graduates had and average of $29,400 of debt. This number primarily focuses on non-profit and private institutions. The average annual salary of a college graduate is $57,616 (United States Department of Labor, 2014). So many college graduates have accumulated a debt worth half of what their starting salary may end up being. The Institute for College Access and Success (2013) reported that 20% of that debt “is comprised of private loans, which are typically more costly and provide fewer consumer protections and repayment options than safer federal loans3” (p. 1). This is an oversimplification in that it is looking at a very general population. Based on the degree and the subsequent employment, income will vary as does the institution attended and the student’s economic status affect the overall individual debt.
Most kids that have graduated high school have never been educated on the subject of personal finance, so they don’t know things like how to pay bills, or even how to do something as simple as applying for a job. According to a family friend of mine, Ron Hart; who happens to also be an award-wining author and TV/radio commentator, believes that students in high school don’t learn anything about how to get a job or get prepared financially. He states that, “ Students should prepare for a job. Maybe, instead of taking a fifth field trip to the Trail of Tears site, do one to learn about real jobs in an area they might want.” Hart believes that most basic high schools aren’t teaching students how to become financially stable for their future, which can cause major issues. He claims that “few schools teach about the value of hard work, ingenuity, gumption and entrepreneurship. Those lessons are as rare as Donald Trump bumper stickers in the faculty parking lot.” Hart also goes on to talk about how high school does not prepare you for life the same way college will. There are so many more lessons to learn there that people are missing out on. College is very important due to the fact that it will teach students more skills about finance and job seeking that most high schools don’t. In college, kids will learn how to save and budget their money, pay for their own expenses, and prioritize their needs verses their wants. Learning financial responsibility is also something that kids will carry with them throughout their jobs and their life. Having more freedom to understand the concepts of person finance will allow students to make mature decisions while easing their way into real world
Increasing college costs has proven to be a major issue for those who pursue higher learning. With institutions raising tuition and fees, students are forced to make life-altering sacrifices to repay soaring student loans. We have come to a pivotal place in history, where individuals have no choice but to minimize or delay important life decision’s such as moving home with their parents to save money, becoming home owners, retirement saving and forfeiting higher education. The impact of increasing college costs has become so severe that it is at the forefront of politicians, political agenda, inducing conversation and policies like the revised income-driven repayment program. The program proposed to help combat the effects of massive student loans.
Education has always been a primary concern for my parents, who taught me that if I need to succeed in life, I have to be educated. Following their guide, I have always valued and tried to get the most of any educational opportunity I have had. Having grown up in a business family, I have always been interested in focusing my career in the business field. My Mother and Father own their own company, and they are constantly talking about business, which has inspired me to follow their path. When my parents retire, they want me to carry on their legacy. For this reason, I have decided to pursue my studies in the field of Business and Leadership at Marylhurst University. I want to pursue a well-rounded education at this established university where I also can have life experiences in the outside world, which will ultimately help me to become a successful leader in our family business.
One important aspect of any person’s life is their education. Children start with their education as early as the age of three. They are put into some form of schooling. The general pattern of schooling for all children is preschool, elementary school, middle school, highschool, and some may choose to go on to college. Each level of schooling is very important for its own particular reasons. The entire education process plays a vital role in each individual’s life.
Public schooling is the most utilized form of education in Canada. It is the most accessible, and is regarded as the most affordable form of education for Canadian students, however there are drawbacks that come with this. Teachers are the primary resource responsible for the delivery of education. In some cases, they may work in partnership with other professionals. However, class sizes are often too large in regard to the student-to-teacher ratio. This does not allow for enough time for students to have access to the educational resources that they require. Due to lack of government resources in some provinces, students who require assistance from a Teacher’s
Fees and loans are too big of a load for young people to carry. A lot of students drop out do to the pressure of having to worry about all the loans they have to pay back after they are done with college. This should not be an issue to the student. According Iatham Emmmons, “Even worse, a large portion of students never receive funding at all due to the multitude of stipulations that must be adhered to in order to qualify for assistance. A major flaw in the current federal educational assistance programs is that the students’ parents’ income is used to calculate financial need” (Emmons 3). Even citizens who try to get help by applying for funding never end up getting it because they do not meet the needs required for the funding. Education should be p...