Student Debt Benefits

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 are not getting the next step in their education that they need to be successful in life. When looking at this situation, different actions can be taken to make sure that when you graduate college, you have the least amount of debt possible. So,

The one thing that no one should deserve is the student debt that one could acquire and build at a rate that is uncontrollable. In today’s society, colleges are getting more and more expensive per semester which is causing a lot of people to either graduate college with a lot of debt, not finish because it becomes too expensive, or decides not to go at all because they can not afford it.

Economies will struggle under the growing mound of student debt as young adults delay marriage, home purchases and childbirth and have less money to spend on housing, food, clothes or entertainment. As a consequence, governments can expect to confront a dilemma concerning increasing defaults on government-sponsored student loans: enforced repayment versus measured forgiveness. Likewise, students especially those with limited resources, struggle over whether to borrow, delay or forgo higher education. (“Student

According to Dictionary.com, the definition of a loan is, “something lent or furnished on condition of being returned, especially a sum of money lent at interest.” The keyphrase in this definition given is, “sum of money lent at interest,” interest is a percentage that is determined by the loan giver that is an amount added to the principal at a payment of the loan or when a payment is not made. This is one reason on how student loans can get really big really fast. Over a long period of time, the loan could go from being a small $1000 loan to $2000 without you even knowing. “If a student intends to be an engineer and has the grades in math and science to suggest she can do so, she is an excellent credit risk.” (Walia) Someone who decides to major in a career that normally comes with a high paying salary, they are actually more at risk at graduating with a lot of student debt because loan givers are going to throw money at them because they know that they will have a good paying job after college, when all that it does it creates more problems for the student regardless if they do end up getting the high