Social Issues in College Education and the Student Debt Crisis. Hayley Engelman Central Methodist University SO101-OA: Intro Sociology Professor Barwick March 3, 2024. Introduction For many high school graduates, receiving a college degree is a huge step towards achieving success in the workforce, in the United States. However, the average cost of a college education in the U.S. continues to rise. At the same time, the salaries of Americans without a college education continue to fall. With the rise in costs for everything in 2024, a college degree is still extremely important to a person’s career. It will increase your chances of finding a job while still receiving a great salary. Although, college education has become more expensive …show more content…
This exaggerates the existing inequalities of limited access to education. Mental health is another social issue with college, as significant student debt will not doubt lead to anxiety and stress. Another issue is that because of the rising costs of college, individuals get stuck in terrible economic standings and cannot seem to find their way out. Many people question if it is worth the cost, but many eventually say it is. Receiving a college degree is more important now than ever, due to low wages, high inflation, and increased chances of finding a job. Student Debt Crisis When students go to college, the majority of them cannot pay full tuition, so they use federal student loans to help pay for it. The majority of the student debt crisis is due to federal loans, and a small portion of it is private loans. Due to an increase in average debt and decreasing average salaries, student borrowers are in a very tough crisis. Many graduates are finding difficulties in paying the debts, and these debts have interest, so repayment becomes more difficult and because of that, debts are less …show more content…
2023, August 22. Is rising student debt harming the U.S. economy? Council on Foreign Relations. https://www.cfr.org/backgrounder/us-student-loan-debt-trends-economic-impact Hanson, M. (2023, January 30). Student loan debt crisis (explained): Facts, causes & effects. Education Data Initiative -. https://educationdata.org/student-loan-debt-crisis Henslin, J. M. (2019). Essentials of sociology: A down-to-earth approach (13th ed.). Personal Education - Personal Education
Economic Growth with Student Debt (Analytical Paper) From the media to the web, people have been deceived with the misconception that student debt is a major issue in our society solely because of those who take out loans to pursue degrees. The statistical data of outstanding student debt is deceiving because it generalizes every debtor rather than categorizing the people based on the different situations they are in. Student debt, in general, is viewed as an issue, but for others, the opportunity
Student Loan Debts Student loan payment is a very broad and acute topic in today's society. These days majority of college graduates have student loan payments upon their graduation. It has a significant influential lifelong effect on young people's life. Student debt is a burden that profoundly impacts lives of young adults. Student loan payments negatively affect the prosperity of young adults. Lifelong student loan payments negatively affect the prosperity of young people by making them wait
According to Forbes, the average student from the graduating Class of 2016 had a debt of nearly $40,000. This amount is almost twice as much money as a family makes in a year at the poverty level. Student loans are getting harder and harder to avoid every year, and each year there are more students that are not aware about the potential dangers that loans can cause. With college getting more expensive and more families not being financially stable to allow their kids to go to college, a lot of people
The student loan problem seems clear enough on the surface: students are incurring oversized student debt, and they are defaulting on that debt and threatening their ability to access future credit. The methods used to collect student loan debt are troubled with problems, including unsuitable recovery strategies and limited unfair repayment options. The present policy conversations that take place between politicians tend to miss key issues that contribute to the debt chaos financial system that
career field because of their debt” (Life Delayed: The Impact of Student Debt on the Daily Lives of Young Americans). Additionally, even if a college graduate made the decision to make a large purchase, such as a house, “the mounting rate of default on student loans is hurting young people’s credit ratings – and making it much harder for them to buy a home or condominium” (5 alarming facts about America's $1.3 trillion in student loan debt). As a result, student loan debt not only hinders the lives
Is Debt Driving Recent Graduates to Move Back in With Mom and Dad? The growing total student loan debt in the United States has many experts worried about the future of both higher education and millennials entering the work force. In 2016, more 18-34 year olds moved back home than ever before and the total student loan debt market crossed the $1.4 trillion mark. To combat this, many students have moved home after college to cut costs and get a head start on loan repayments, but is it the best decision
outstanding student loan debt is $1.41 trillion +, and the average federal student loan default rate is 11.8%(Lendedu). Graduating college is a rewarding achievement, but also a heavy bag to carry on your shoulder. Having a bag of debt weighing you down can cause many complications from not being able to purchase your first home, or going on vacations with your family. A community will strive and become its full potential if they are able to continue educating their fellow neighbors. Forgiving student loans
One of the large, and growing, problems in the U.S. today is student loan debt. Most people don’t realize the significance of this issue unless they are directly affected by it because they don’t feel the burden it puts on a person. Not only is hurting those who have the debt, but now it is starting to affect institutions and the economy in America. It has major effects on family life, job opportunities, the U.S. economy, and the ability of a person to succeed in life. Some people have started notice
Student loan debt has been on the rise over the years. As students are on their way to college, many are turning down attending huge universities because of the hefty price tag. This is an issue because of the high cost of tuition, making it a social problem, a problem that is affecting more than one person, that are is created by social conditions and that can be changed if we take action because students are not able to pursue their dreams, students tend to drop out, and many are stressed. If we
roughly $37,000 in debt while being thrown out into the “real” world (Laboissiere). This just happens to be the reality for almost every average college student in the US faces. Many people have noticed this problem and now they are throwing out many solutions. What if we gave students a chance to graduate college without worrying about their debt but being able to do this without just handing out free college. Not only will this make it easier and less stressful for students to further their education
There is also evidence to support the claim that graduate students are contributing to a substantial amount of the outstanding debt. The amount of graduate school attendees has risen since the collapse of the housing market in 2008. Many recent undergraduate students were unable to find work during this time. This lead to the increase of master’s degrees in the job market on the basis that historically, graduate degrees were much more attractive to prospective employers. This increase in graduate
Student Loans Faith Uvalle Many young adults say they are upset about the rising price of going to college. There is a little dispute today that the number of students who have debt has increased, and the amount of money that they have borrowed has gone up. Many students incur large amounts of debt that they will never pay dividends higher wages or greater job satisfaction, and they graduate into a world with poor employment prospects. Student debt has recently passed 1 trillion
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
Outstanding federal student debt has grown to $1.3 trillion. The Congressional Budget Office estimates the amount borrowed will double by 2025. The number of student loan borrowers has doubled to 42 million, and default rates among recent student loan borrowers are at their highest levels in twenty years. The discussion of student debt crisis stems from increase in debt and default rates and concern about the effects of student loan debt on young adults’’ lives. According to Professor Elliott III
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