The Pros And Cons Of Student Debt

As the years pass by, more and more college universities are gradually becoming more expensive in tuition, and other school-related expenses. Across the nation there are millions of college students who are in a way, “forced”, to take out loans through banks, their personal universities, or other financial aid services, because of their inability to fully pay for these colleges’ overwhelming expense fees. These loans being taken by students and parents across the nation may or may not always be paid back immediately-- some adults give testament admitting that they are still paying off their student loans from ten or twenty years ago, up to this day. Our goal, is to analyze and assess the specific numbers of student loans taken for given years, its direct effect on the nation’s economy, and come up with potential solutions for how to fix any negative problems that may be created.

[Description of the economic issue (key facts, diagrams)]

According to Barbara O’Neill, a financial resource manager at Rutgers University, from 2004-2014 Student Debt has quadrupled and the student default has doubled. The amount of average student debt has increased from about $15,000, for a student

According to the Wall Street Journal, in 2014, out of about 40 million people, 70% of them are “now loan borrowers”. These “new loan borrowers” are all leaving universities with around $33,000 in debt. Not only that-- The Wall Street Journal quotes, “research from the Pew Research Center and Rutgers shows that today 's twenty- and thirty-year-olds are delaying marriage and delaying childbearing, both unhelpful trends from an economic and social standpoint.” Just adding fuel to the fire O’Neill already brought to the table, explaining how these debt holders are not going about life, or buying things in a “typical” fashion that an average person in our country