Student Loans

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Recommended: effects of student loan debt essay

Gabriella Campas
Mrs. Kristin Little
English 102
“The DANGER of Student Loans”
In the United States, college students who received a student loan owed an average of $26,000. Because of this dire situation, students must avoid receiving any type of student loan to avoid a debt that cannot be paid. A student must know the definition of Economics, Finance and Money. What is Economics? It is the process of how to make a living. What is finance? It is the process of how to manage your money. What is money? It is a proxy of man’s ability to reason, create and produce. If a student knows these three then there is no way they can be tricked into getting a student loan. Should universities turn down people because most families can’t fully support the child going to college, and make a living what is called comfortable in residence?
Student Loans were made to provide financial aid to any student who wished to graduate college. All they had to do was to pay off the loan. After inflation adjustments, students now are borrowing twice the amount of money a decade ago. As of 2013 the Student Loan debt sky rocked to 1 Trillion Dollars adding to the country’s national debt. How does the government think we are going to be able to pay it back? What are the benefits that loans can provide for students who are paying for college on their own?
Many people believe that it’s okay to get a student loan as long as they pay it off later. “So I’ll just get a loan and pay it off after I graduate college. Then I’ll get a good job, make lots of money and pay it off in time.” Good plan? A recent survey showed that 53% of college graduates are unemployed. Also 37.8% of college graduates worked in jobs that didn’t require a college degree and received minimum wa...

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...ents taking out Federal Loans, whereas Private loans already come with a bundle which almost always has hidden fees. Student loans help build credit, loans will be a student’s first huge financial transaction of a student’s life before they decide to buy a home or car.
How to pay for college is a complicated and as important a decision as which college to choose, what to major in and whether to live off or on campus. As college freshman understand only borrow what you can afford to pay back after graduation, based on the income made in your career field. Eventually the community will ultimately move society to get universities to consider providing a good quality education for student’s success at an affordable cost. This issue will always be talked about and ultimately require a final decision by the student themselves in order justify the means of student debt.

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