Student Loans Pros And Cons

Did you know that, “ the current balance of federal student loans nationwide is $902 billion, with an additional $140 billion or so in private student loans.”( Martin and Lehrens 5) In today’s society, college tuition and student loans has been the hot topic recently in our political, social and economical viewpoints. Without a doubt, scholarships, hard work with money management, and community colleges can solve the cost of college and the issue of student loans creating debt. To start, the cost of college tuition is ridiculous. For example, the author states,” paying off her $120,000 in student debt, she is already working two restaurant jobs and will soon give up her apartment here to live with her parents- Ms. Griffith, 23, wouldn’t seem a perfect financial fit for a college that costs heavily $50,000 a year,”(Martin and Lehren 4) Thus, students are working extremely hard to pay off their monthly bills. For instance, the author exclaims,” I knew private school would cost a lot of money. But when i graduate, i'm going to owe like $900 a month.”(Martin and Lehren 5) As a result, teens will

To illustrate, the author says, “ ... Who has won about 20 scholarships, most of which ranged from $500 to 1,500. The largest was a $5,000 scholarship she received for two years from the Hispanic College Fund.”(Gormus 11) Therefore, there are so many scholarships to receive and available to everyone. Moreover, scholarships give you money that you didn't have before. To show, the author states, “You don't know know that big $10,000 scholarship is not that much greater, she said. Generally, the smaller scholarships require shorter essays that can often be recycled, as can faulty recommendations.” ( Gormus 12) Accordingly, scholarships are the best choice best solution because its free money that you didn't have, it saves time and is the most effective for dealing with college debt and