Student Loan Debt And High Cost Of Education - 1190 Words

AMERICAN INNOVATION, TOO EXPENSIVE TO EARN Although millions of college students graduate each year, many of them are not successful after their education. Many jump in without knowing what they want to do and at the end once they have their degree they realize that it wasn’t what they wanted. Now they have thousands of dollars in debt and a degree they dislike or a degree so common it earns them but a dollar or two more than a high school diploma would. Some can’t even find job, yet they have the burden to pay back student loans, but what if we as students did not have the burden of debt? Would that make a difference? Could pursing a second degree be more feasible without the burden of expanding your debt? Student loan debt and high cost of education has become a huge issue in this country, they are deterring individuals from pursuing a degree, at times prolongs their education time frame and more often than not we are left with a huge debt to pay. I believe thi s deterrent is gradually affecting the number of innovators in our country. How can we fix this? With interest rates as high as 9.37% through SallieMae one of the leaders in financing education, student loan debt has become a big business at the expense of the American people that want to better themselves. The national student loan debt surpassed 1 trillion dollars with the average individual debt being thirty thousand dollars. It is obvious why giving an education is more a business than a service.Show MoreRelatedHow The Student Loan Debt Crisis Is Undermining Economic And Social Progress Of American Graduates1635 Words   |  7 PagesHow the Student Loan Debt Crisis Is Undermining the Economic and Social progress of American Graduates Currently, higher education is highly valued as a step in achieving success and earnings potential, but attaining a degree comes at a high cost. Although a very valued asset, the cost to attain a college degree for most students includes getting loans, grants from the government, and sometimes even private loans. Most of these loans come at a high price for students as the interest structure forRead MoreStudent Loan Debt: Is it worth it?1364 Words   |  6 PagesStudent Loan Debt: Is it worth it?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Many high school students are beginning their senior year and have already started to stress about how they will pay for their higher education. Although many students will have scholarships and financial aid, a lot more will struggle to pay for schooling and will have to take out multiple student loans. Many people wonder if higher education is worth the debt the country and the students are in and it is, however, there are alternatives.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Read MoreThe Rising Cost of Education1737 Words   |  7 PagesThe cost of higher education in the United States has skyrocketed over the past decade or so, leading to a number of social problems including deep debts among graduates. As a result, the value of higher education is being increasingly called into question. Earnings and job outlooks for graduates has grown grimmer over the past decade or two, while those same graduates are more in debt than their parents would have been for the same educational program. Greater debt plus fewer options for payingRead MoreThe Rising Costs Of Formal Education1649 Words   |  7 Pagespressure to get a good education than ever before, but at what price? The cost of education is at an all time high and rising every year. Many Americans are struggling with a large amount of student loan debt weather they graduated with a degree or not. The only way to secure the future of students today is to inves t in the students themselves rather than investing their money into the corporate market. By preparing students for higher education and providing financial resources students will have the knowledgeRead MoreHow The Rising Student Loan Debt1318 Words   |  6 PagesHow to Control The Rising Student Loan Debt The American Dream teaches us that if we work hard, earn a good living, and do our best that we will be able to live comfortably and happily with the fruits of our labors. In today’s society to achieve the American dream, one must first obtain a higher education. In order to do that though many students are taking out student loans and putting themselves further in debt. Having an education has now become highly sought after, yet increasingly harderRead MoreHigh Tuition And Higher Education1200 Words   |  5 PagesHigh Tuition Costs in Colleges In the past, college education was not important to get jobs, but at present, it’s necessary to have college education, since, employers are demanding employees with higher education to work in their place (Bidwell). However, tuition costs of the colleges are increasing every year. Therefore, tuition of college is so high and many students cannot afford to pay, even after receiving some scholarships from their institution. Consequently, they have to take out loansRead MoreThe Role Of Federal Loans Became Dependent On American Families1455 Words   |  6 Pagesfurther education for a high school graduate, attending a university is very costly. The use of federal loans became dependent on most American families that try to provide such an education to their child. Before World War II, academically advanced students from families that were unable to finance college could apply for competitive scholarships; Scholarships mutated into â€Å"financial aid† when the GI Bill o f Rights financed college for the discharged veterans (Toby, 2010). Since then, student loanRead MoreThe Terribly High Cost of Education928 Words   |  4 PagesThe cost of college has been on the rise recently making it extremely difficult for the low income or average American to afford an education after high school. This puts tons of stress on graduating high school students. Students are dropping out rapidly because they do not have the appropriate funding. Other financial resources such as grandparents are helping out students more than ever now. Financial aid is supposed to provide money to students who cannot afford tuition, but unfortunately theyRead MoreHigh School Vs. The Federal Government1327 Words   |  6 Pagesgraduate high school. Aging through the years, the common perspective was to attend college unlike the viewpoint from the 80’s and earlier where not as many high school graduates attended college. This standard view for many families, like my own, is t o put their son or daughter into college so that they may graduate with a degree and seek a career in the tough world as of late. In order to make this goal happen, many families sought the help of financial aid as a lifeline to avoid debt themselvesRead More University Tuition Costs are Too High Essay1239 Words   |  5 PagesThe cost of tuition for higher education is quickly rising. Over half of college freshmen show some concern with how to pay for college. This is the highest this number has been since 1971 (Marill and O’Leary 64-66, 93). The amount of college graduate debt has been rapidly increasing also. With limited jobs available because of the high unemployment rate, college graduates find themselves staying in debt even longer. Although grants and financial aid are available to students, students still