Many parents send their child(ren)off to college, thinking that an loan is the only way to pay for school.Do you really want your child to be in a debt trap from student loan just to go to college? Janet Bodnar, the author of “ The College Debt Trap”, shows you variety of things to take into consideration when chosen to do student loans. The author argues that families can find more affordable way to pay for education. Janet Bodnar gives parents a guideline for avoiding student- debt trap. Mark Kantrowitz states that “ the total student – loan debt exceeds revolving credit. Janet Bodnar uses problem and solution to help convince the readers that there are alternatives then paying expensive prices to go to college. One way you can pay for college
“The Good, the Bad and the Ugly of Student Loans” references many great points that recent college graduates or futures college graduates should follow. These include paying student loans fully and on time, as well as consideration of refinancing. The article’s main purpose is to help college graduates prepare to pay off their student loans carefully and correctly. It chooses to focus on the good points of paying off student loans, giving hope to those who may be worried about paying them off.
"Debate on Student Loan Debt Doesn 't Go Far Enough." Applebaum, Robert. Hill (2012). Print.
Recent studies show that the number of individuals who default on their student loans has been steadily increasing as well. Statistics from the Institute for Higher Education Policy (IHEP) show that between 2004 and 2009 only 37% of federal student loan borrowers were able to make uninterrupted payments; it is an annual average of 7.4% (Cunningham, and Kienzl). According to IHEP, for every one borrower who defaulted, two ...
Even though choosing to go to college is something that takes a lot of thought, there’s still the idea of how to pay for it. That topic is touched by Robin Wilson in his article, “A Lifetime Of Student Debt? Not Likely.” In his article he talks about how taking out student loans isn’t as bad as it sounds. He argues that taking out student loans is something that you won’t notice in the future, they’ll just be like other bills that need to be paid. Most people who do have student loans, are still able to live a comfortable life, not scrabbling like most would
Personal Finance Essay Many students in today’s world believe they need to take out student loans for college. I believe you don’t have to take that path. Student loans are hurting many students who attend jcollege, and I believe that the loans should stop. Any student can get through college and be debt free at the end.
Student loan debt makes up a large portion of the debt in this country today. Many defaulted loans are the demise of high interest rates, poor resources to students in educating them on other avenues and corruption in the governmental departments that oversee education and financing. There are many contributing factors that lead to the inability to pay off student loans which need government reform to protect the borrower’s best interests.
It is a norm and expectation in society today for students to pursue higher education after graduating from high school. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all time high with so many people graduating from college, and having difficulties finding jobs in their career fields, so they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.
Children of the twenty first century spend nearly 13 years in school, preparing for what is college, one of the only ways to achieve the so-called “American Dream”. College is the best way to start an advanced career and go further than one possibly could if college degrees were not available, allowing people to achieve their view of the American Dream; whether it be large houses, shiny cars, multiple kids, or financial comfort, college is the stepping stone to achieve the American Dream. But all great things come with a price, college dragging along debt. Students who attend college struggle to find ways to pay for it, leading to applying for student loans. These loans a great short term, paying for the schooling at the moment but eventually the money adds up
In that year, the number of college graduates was only 432,058 (Sourmaidis) and ever since the demand continually increased as did price. This trend allowed for the student loan crisis to occur, which is a problem we face today. As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements).
Student loans are a trick to the mind and a trick to your wallet. When getting a student loan all the student thinks about is “Now I can afford to go to school”. The sad truth about that statement is that 90% of the people who get a student loan cannot afford school and they really can’t afford to pay the loan when they get out of school. David
Everyone knows that going to college and getting a degree is the most effective and guaranteed route to ensure a prosperous financial future, right? College is considered by most to be the best investment you can make in life, but what happens when that investment leaves you drowning in thousands of dollars in debt right after graduation day. This is the situation that millions of college graduates are faced with in 2016. Rising college tuition perpetuates student debt and is on a sharp incline and it seems to have no ambition of ever slowing down. The effect of this catastrophe is felt by millions of families across the country who now question, “is college really worth it?”
The cost of college tuition continues to increase each year. If this keeps increasing the way it has been, students will be indebted the rest of their life. Author of “The Looming Student Loan Crisis”, Jackson Toby states that student loans have increased along with the increase of tuition costs. In 2004, the average unpaid student debt was approximately $18,650...
Through my research I hope to explore the consequences of education debt on college graduates’ lives, including career choices, consumption pattern and lifestyle choices. Meanwhile, I want to discuss some feasible alternatives to minimize student loan debt. My intended audience will be the American college students and their families. The other audience I want to reach is those education policymakers. The contribution of this research will be to help students better understanding the consequences of indebtedness and making informed and careful decisions on paying for college. Also, it will raise the awareness of education policymakers, prompting them to improve our existing student loan policy. As a college student, how to finance a higher education is closely related to my personal life. Through the research I hope that I can acquire enough information on the pros and cons of student loan, and other options to minimize the student loan debt, so that I can make careful decision on financing my college education.
Parents usually pay for their children’s education in college; but some parents may think that it is not worth it to pay. According to the author of “No: Let’s Make Sure Kids Get the Most From Their Education”, said “the more money parents paid toward their children’s education, the worse their academic performance (Herman). Even so, parents should pay for their children’s education in college, as it would give parents three main wonderful results: parents will feel good when they see their children’s success, children may show appreciation to their parents for helping them so much, and children won’t have any loans after finishing college.
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...