Student Loan Debt 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. There are different types of financial aid available to students such as grants, scholarships, and loans. There are a lot of these types of financial assistant available for students to have access to. There are many websites available online that have all different types of scholarships. Some scholarships have certain requirement such as race, GPA, demographic, parent’s income, etc. Others require students to write an essay and others only require students to only apply. Grants are given to students and are money that is not required to be repaid. Most grants are federally and state funded. Loans are money borrowed and is required to be repaid and in most cases with interest. There are two major different types of student loans; they are Federal and Private Loans. Federal loans are loans offered by the government. There are three different types of Federal Student Loans and they are Federal Stafford Loan, Federal Plus Loan, and Federal Perkin Loan. There are two major Stafford loans: Subsidized and Unsubsidized. To be eligible for these loans, students... ... middle of paper ... ...They also have the option of Deferment or Forbearance, and also the option to see if they qualify for Forgiveness, Cancellation, or Discharge. They are options available for borrowers instead of going into Default. Works Cited Carmona, Norma and Thompson, Kim. “How to Manage Student- Loan Debt.” The Chronicle of Higher Education. 27 February 2004. The Chronicle of Higher Education. Web. 26 February 2014. Basken, Paul “Student-Loan Market Shows Small Signs of Revival” The Chronicle of Higher Education. 16 May 2008. Web. 26 February 2014. Turlington, Shannon R. “How To Find A Scholarship Online.” New York: McGraw-Hill, 2001. eBook Collection (EBSCOhost). Web. 23 Apr. 2014. Clemmitt, Marcia. "Student Debt." CQ Researcher 21 Oct. 2011: 877-900. Web. 23 Apr. 2014. Greenblatt, Alan. "Youth Unemployment." CQ Researcher 14 Mar. 2014: 241-64. Web. 23 Apr. 2014.
Along with scholarships, fellowships, and grants, student loans are an important method of financing post-secondary education. With tuition costs rising, more students are borrowing to pay for college education today. However, not all students realize the burden of paying back their student loans. Many are defaulting.
In the study involving 2,143 married couples living together completed in 1975 and the study involving 6,002 couples completed in 1985 these studies showed that females had a slightly higher rate of assaulting their spouse than men did (Straus & Gelles, 1986, 1990). The overall rates in the 1985 National Family Violence Survey was 124 per 1,000 women assaulted their male partners compared to 122 per 1000 men who assaulted their female partners (Dutton, 1988; Stets & Straus, 1990). These studies show that women have the same if not hig...
Financial aid is money in the form of loans, grants and employment that is available to a student to help pay the cost of attending. Financial aid comes from the federal government, which is the largest provider of aid, as well as state government, the school and a variety of other public and private sources.
An education is one of the most important tools a person can acquire. It gives them the skills and abilities to obtain a job, earn a wage, and then use that wage to better their lives and the lives of their loved ones. However, due to the seemingly exponential increase in the costs of obtaining a college degree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. Without question, the increasing national student loan debt is one of the most pressing economic issues the United States is dealing with, as students who are debt ridden are not able to consume and invest in the economy. Therefore, many politicians and students are calling on the government to forgive their student loan debts so that through their spending the slowly recovering economy can finally return to its pre-2008 strength.
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.
In that case, students might consider loaning options. In order to use a federal loan to pay for the education, it is a must to be enrolled in a federal program offered by an accredited school. Borrowers of the loan must maintain an acceptable academic standards. According to “How to Pay for College”, “The undergraduate Stafford loans have an interest rate as low as 4.66%, no application fee, and no payments until six months after you graduate”. Likewise, private loans can obtain from banks, credit unions, and other lending institutions. Students can directly apply for a loan, but, it will become their financial and legal responsibility to repay the loans. Federal loans are more advisable because private loan providers’ charges a higher interest
Does the amount of student loan debt have an effect on the economy? If so would forgiving student loan debt help lower the national debt or would it just increase it? According to Mary Claire Fischer, a writer for Kiplinger’s Personal Finance magazine, “two-thirds of students who receive bachelor’s degrees leave college with an average debt of twenty-six thousand dollars” (Fischer). This means that the average student debt has doubled since 2007 (Ross 24). The total student loan debt is $1.2 trillion with $1 trillion being from federal student loans (Denhart). This debt accounts for six percent of our nation’s $16.7 trillion debt (Denhart). Since student loan debt is such a big part of the national debt, if the student defaults on their loan then the United States tax payer has to carry the burden of the loan (Denhart). Students who are graduating with debt do have a couple of different options that they can choose from. There is a six month grace period after graduation to allow the student time to find a job and programs to try to help eliminate debt. “The Consumer Financial Protection Bureau estimates that one-fourth of the American workforce may be eligible for repayment or loan forgiveness programs” (Atteberry n.p.). The problem with these programs however, is that they are hard to get into and stick with.
In an article written by Andrew Lehren, the author provides the bold statement that “the only thing worse than graduating with lots of debt is not going to college at all” (Lehren). In today 's society, many families lack the funds to provide a full ride for their children in terms of college. Due to this fact, many people turn to alternate solutions such as loans or diving straight into the workforce instead of attending college at all. These solutions, however, may greatly affect a person throughout the course of their life. The problem of college debt is increasing rates in regards to tuition, however, fortunately there are various solutions accessible in order to decrease or eliminate the debt that many american students face.
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
College debt is a universally known issue that remains one of society’s largest burdens today. Over the past ten years, high school students and graduates realized that they must seek a higher education in order to find a job that keeps food on the table. Attending a college or university is practically required in order to succeed in life today. Millions of people seek a higher education to pursue a degree, graduate, and acquire a quality job that supports their everyday needs. It often means a lot of money to pursue and earn a degree nowadays. What they don’t realize, is that paying their tuition and housing deposits is essentially signing a contract, costing them thousands of dollars in the near future and leading them down the dark path
Intimate Partner Violence (IPV) is historically referred to as domestic violence. It describes a pattern of coercive and assaultive behavior that may include psychological abuse, progressive isolation, sexual assault, physical injury, stalking, intimidation, deprivation, and reproductive coercion among partners (The Family Violence Prevention Fund (FVPF), 1999). IPV leads to lifelong consequences such as lasting physical impairment, emotional trauma, chronic health problems, and even death. It is an issue effecting individuals in every community, regardless of age, economic status, race, religion, nationality or educational background. Eighty-five percent of domestic violence victims are women (Bureau of Justice Statistics, 2003). More than one in three women in the United States have experienced rape, physical violence, or stalking by an intimate partner in their lifetime (The American College of Obstetricians and Gynecologists, 2012). Thirty to sixty percent of perpetrators tend to also abuse children in the household (Edelson, 1999). Witnessing violence between parents or caretakers is considered the strongest risk factor of transmitting violent behavior from one generation to the next (Break the Cycle, 2006).
Intimate Partner Violence (IPV) refers to assaulting and coercive behaviors adults use against their intimate partners. Holden (2003) describes IPV childhood exposure as: (1) prenatal violence, (2) a child’s intervening in violence in an effort to stop it, (3) being directly victimized during violence against mother, (4) participating in the assault on the mother, (5) being an eyewitness to violence, (6) overhearing violence, (7) observing the initial effects of violence, (8) experiencing the aftermath of violence, and (9) learning about a violent event. For the purposes of this paper both permanent caregivers and parents are considered and used interchangeably. Studies show that children are present during 75% of IPV occurrences.
“Domestic violence is a violent confrontation between family or household members involving physical harm, sexual assault, or fear of physical harm” (Stewart & Croudep, 1998-2012). In most places domestic violence is looked on as one of the higher priorities when trying to stop crime. Domestic Violence cases are thought to be influenced by the use of alcohol, drugs, stress or anger but in reality, they are just learned behaviors by the batterer. These habits can be stopped as long as one seeks help (Stewart & Croudep, 1998-2012). For instance, a child is brought up in a household that is constantly involved in criminal acts. As this child grows up, the criminal lifestyle will be synonymous with his/her behavior. With that being said, it is also a given fact that if a household and its members are surrounded with violence, the relationships between one another will be strained. Eventually this will end up in a divorce or even worse, death, depending on how far the violence goes. If there is violence in a family, then the ones who are affected by it may feel like they deserve it because of what the batterer is accusing them of doing. Battering occurs among people of all races, ages, socio-economic classes, religious affiliations, occupations, and educational backgrounds (Stewart & Croudep, 1998-2012). Domestic violence can affect families in more aspects than one; the husband-wife relationship, the children, and also the financial stability.