Should Student Loan Debt Be A National Crisis - 865 Words

Although many people are considering student loan debt to be a national crisis, we must understand the reality behind it. Unfortunately not everyone is fortunate enough to make it through college without accumulating debt. In Robin Wilson’s essay, â€Å"A Lifetime of Student Debt? Not Likely†, she makes a compelling argument that shows how students get involved with really high debt. She claims, â€Å"†¦the problem among students who go heavily into debt is that they are determined to attend their dream college, no matter what the cost (257).† It is a true statement because students want to turn their dream into a reality. All students can reach their goal of attending a dream college by first choosing a community college in order to decrease the amount of student loans. Many students plan to go to their dream college; however they don’t take into account if they will have a job that will pay them enough money in the future to pay off their loans. A c ommunity college would be beneficial because it will act as a gateway to direct students to a job before starting their dream college. That path would provide the student with an opportunity to save up money while being in school to pay off their student loans. Wilson has a similar argument stating, â€Å"Many borrowers who find themselves in trouble use options under the federal loan program that allows them to postpone repayments on their loans for years. The problem is that because interest keeps racking up during such a deferment and afterShow MoreRelatedStudent Loan Crisis Is A Crisis870 Words   |  4 Pagesthousand dollars in student loans. (Johnson, â€Å"Student Loans†) There is currently a debate about whether or not student loans are a crisis or if this crisis is just a myth. In the article, â€Å"Here’s Your Crisis: Student Loan Debt Isn’t A Myth,† it describes how student loans are a huge crisis, and the article, â€Å"The Myth of the Student Loan Crisis† is about how college students’ loans do not amount to a crisis. The student loan crisis is a legitimate problem, not a myth. College students do not realize theRead MoreFinancing For Loan And Debt Crisis1269 Words   |  6 Pagestoday, the total consumer debt was $11.52 trillion, and of that, student loans account for $1.08 trillion and that number is growing larger and larger every year (Hiltonsmith, Robert). A large portion of the population undoubtedly feels the burden of these statistics. Seven out of every ten college seniors has reported having to take out one or multiple student loans so that they can to afford to go to college (Hiltonsmith, Robert). The results of this outstanding amount of debt does not just affect theRead MoreThe Vicious Cycle Of Student Loans1576 Words   |  7 PagesCycle of Student Loans Student loans are one of the top three national debts in the United States. Total student loans have reached an outstanding of one trillion dollars and are still on going. It would take the United States hundred-fifty years, twenty million dollars a day to fully cover this national debt. Student loans are intended for students to go to college but they come with a rising social and economic cost. As the expectancy of high return and tuition are increasing, more students are endingRead MoreThe National Student Loan Debt1571 Words   |  7 Pagesjust added to the national student loan debt. According to the Consumer Financial Protection Bureau, college debt now ranks second in the greatest debt owed besides a home mortgage. Unfortunately, the affordability of obtaining a post-secondary education no longer exists. Americans are now faced with over $ 1 trillion dollars in student debt. With such a huge escalation in college debt, we are facing a generation where over 50% of graduates wi ll owe debt (McDaniel). While having debt after graduationRead MoreThe Nationwide Student Debt Crisis967 Words   |  4 PagesFact or Fiction: The Nationwide Student Debt Crisis In the United States, it is generally accepted that college (or any form of higher education for that matter) is a wise investment that each and every individual should strive for. Each and every year thousands of parents open college funds and future investment plans to ensure that once their child is of age he or she can participate in quality educational programs. While college attendance rates are at a positive all-time high, right behind itRead MoreMiddle And Working Class Family s Depend On Student Loans Essay1546 Words   |  7 Pages Initial Draft Student Loan Debts Terri Gray Chamberlain college of Nursing â€Æ' Prewriting Assignment What is your narrowed topic? Middle and working class family’s depend on student loans. Loans are the only way to an education for many families not only here in the USA. Also I find it interesting that most minority families do not understand the cost of education. Student loans are aver political issue and many polices and laws have been put in place for people to have access to education yetRead MoreStudent Debt Crisis And Its Effects On The Economy1586 Words   |  7 Pagesstudent debt crisis has reached an all time high with debt reaching a total of 1.3 trillion dollars across the United States.With tuition cost increasing,lack of scholarships and unpaid back loans,student debt will continue to increase even higher.The enormous amount of debt put upon each student creates the inability of those students to help the economy grow.Our economy as we know it is a loop and decreasing the student debt significantly will help the economy grow.Instead of putting that moneyRead Mo reWho Will Pay For Free Public Tuition1398 Words   |  6 Pagesthat Trump is president, however, educator Sajay Samuel provides a different approach to reforming the astronomical costs of higher education. The TED talk in which Sajay Samuel brings forth his ideas for addressing the student debt crisis, is labeled â€Å"How College Loans Exploit Students for Profit† (Sajay Samuel). Sajay Samuel believes if tuition was based on the income that the student’s family makes, studying what someone loves would be easier to achieve. Sajay Samuel’s aspirations for restructuringRead MoreSolving The Student Debt Crisis Essay1609 Words   |  7 PagesThe student debt crisis has reached an all time high with debt reaching a total of 1.3 trillion dollars across the United States.With tuition cost increasing,lack of scholarships and an increase of government loans,student debt will continue to increase.The enormous amount of debt put upon each student creates the inability o f those students to help the economy grow.Our economy as we know it is in shambles and decreasing the student debt significantly will help the economy grow.Instead of debt owersRead MoreStudent Loan Is A Terrible Idea1308 Words   |  6 PagesStudent loan forgiveness is a terrible idea. Sure, in an idealistic world it would be great if the country could forgive all student loan debt and thus bring relief to all students across the nation. Realistic? Not necessarily! Instead of the fairytale notion of student loan forgiveness being the answer to all the problems, America would fair better in taking the initiative in making reforms to the educational loan system that are a bit more realistic. Student loans are a massive predicament in the