Student Debt Essay

In the world today debt is a major crisis. This crisis is especially occurring in the United States of America. Having debt means to have an unpaid amount of money that one borrowed from credit agencies, banks, private loaners, or the federal government at a certain point in time. One of the most common types comes in the form of student loans. Student loans are given to higher education students pursuing a career through college. Education after high school is often very expensive and young adults cannot afford it without higher paying jobs and a set career. College Debt only increases every single year that a student attends school, and it often causes a scare. Increased tuition, fees, and materials all way in to the deciding factor of going to school.

All these factors lead to many not attending college and leave many struggling to find jobs. Student loans come in many different types. Some are based on financial need and others are based on other factors such as grades (Field).

The interview asked many questions on financial experiences throughout her six years attending Bowling Green State University. One question was how she handled finding financial aid to pay for school. “Finding quality loans was a struggle for me” said McVicar “Both of my parents worked and made over $50,000 so government aid was out of the question.” Even though one would think she would be fine with the amount of money that the family brought in there was one adding factor that tangled the situation. This factor was the fact that she had four other siblings, close in age; that were eventually going to attend college. The government never took this into consideration so Hilary was stuck with private bank loans. When she graduated in 2001 she could not find a job, so paying these loans off was a difficult situation especially with the high interest rates from private