How To Reduce Student Loan Debt

04 Dec. 2016. In USA Today’s article by Sandra Block and Christine Dugas titled “Five Proposals to Solve $1 Trillion College Loan Crisis,” the authors mention five ways to solve the student debt crisis in America, illustrating things like Bankruptcy reform, loan forgiveness, increasing federal pell grants, and the education of borrowers. Evaluating this article, it provides an informative view on the solution of student debt, and overall expresses many different spectrums on ways we can solve this social problem. The five ways to solve this problems

This would benefit the economy and take stress off the debt crisis. The IBR plan would take no more than 10% of each paycheck. If students have a hard time finding a job after graduation, they would pay 0$ a month of loan payment. Even if they made between $10,000-$15,000 a year, they would pay 0$. This program takes into account the amount each student makes per year and also the size of the family.

Student debt is a heavy burden to face, not only for upcoming student graduates, but also those who already are retired or nearing retirement. In “Haunted by Student Debt Past Age 50,” an article by The New York Times Editorial Board, argues how people that are of age 50 or above are struggling to pay off their debt while at the same time the government is taking away their money from their Social Security check. They give us the insight what they think of the situation, and what they suggest the government do in order for the problem to be sooth out. The Editorial Board through the use of rhetorical appeals of Logos, Pathos, and Ethos, shows the audience how the student debtor’s are having difficulty paying student loans, as a consequence they create a propose solution in which the government should help people that are carrying that debt, even after they have graduated.

Although debt is a bad thing, it is not unavoidable for everyone. People will fall into debt because not everyone has a solid financial backing. More than seventy-one percent of students graduating from a four year college are graduating with debt (A Look at...) . Setting a cap would cutthat percent far down so the students would have a chance to break even with the income they receive after college. Because there is no student loan debt cap, colleges take advantage of this or they set the cap very high so the students will keep having to pay the college for years.

Many would argue that by relieving debt from students, it would act as an economic stimulus. Students unburdened by their financial load are likely to pour their money right back into the economy by purchasing goods or services. As Webly mentions, "college graduates are the type of people society needs to do things like start businesses, buy homes and cars, invent things, and make babies" (130). Their extra cash would flow back into the economy increasing revenue, creating new jobs and businesses that would lead to a growing financial system. But this solution causes disillusionment, a one-time payout from the government will not solve the economic crisis like it promises.

Another great benefit to this act is that even those students who end up getting a government job after college would end up paying their loans off within ten years and would eventually be forgiven if they exceeded the time. This act does not hurt the nation, in fact, it’s actually fixing it. As of today, this act hasn’t passed, but if it does, the solution to the student debt crisis would be solved; students would be relieved of financial stress and they would be given an opportunity to gain a better education and make the nation a better

The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.

Korff states that by the federal government paying back our loans, the universities will just raise tuition once again, and we will find ourselves in the same situation once again. Korff continues, Universities know that most students can’t afford college. But they also know that the government will help pay for what students can’t afford. Korff argues that eliminating all student debt for one generation is not a permanent solution, and the consequences could be severe for generations to come. When it comes to persuading his classmates, Korff succeeds admirably.

College is one of the most important and life changing times in the life of an American. Leaving high school behind and venturing out to the adult world is an amazing experience that every individual should experience. However, young adults from every corner of the country leave college with crippling debt or do not go to their preferred college of choice. College education should be cheaper as it will help families and students financially and give them the satisfaction with having the opportunity to go to their first choice for college.

Loans allow receiving a college education seem like a smoother process considering that such a hefty amount to pay is divided so that it can be paid for in moderation. Despite the fact that it’s split into many payments, it’s still a large quantity all in all so unless indebted students aim for high income jobs, there would many years of difficulty to come after college. For this reason, undergraduates make it their goal to go after jobs which would prevent them from being constantly pressured to pay off debt. Thus, student debt is both a crisis and a reason to encourage persistence towards greater ambitions (Hillman, 41). It is a tremendous thing when a student seeks to be financially comfortable or even rich in the future but not when it is for the wrong reasons.

Every student's circumstance is different; therefore, they should all have different solutions. Some students do not enjoy of a good economy, which provokes them to borrow more money than other students. Also, there are some students that will study careers that do not have a great income, or are very rare in jobs. Their solution would be to maintain the cost of student loans at a reachable price. In this case, every student would be able to pay off their loans without any

Student loans can be helpful, but when it's time to pay back, it can lead to future mental struggles and be stressful and hold you back from living the life you want to live in the long run. The student loan debt crisis in now only taking a huge toll on the personal lives of many Americans, but on the economy as well. Whether or not students graduate or not, if they pulled out student loans worth $200,000 they remain in debt for a remainder of years. As the problem continues to grow it becomes more and more critical to find a solution to help the well being of everyone in the nation, student or

Have you ever owed someone $20? Well, imagine owing someone $100,000+ . Many students every year are left in crippling debt that can affect them for the next few decades of their life. Because of the cost of college, many students fresh out of high school can’t go to college. In order to make it easier for the lower-class to go to college, you should do at least one of the following things.

Yet the amounts of financial aid they receive are generally never enough for most students, and they continue to carry the debt for most of their miserable life. The ideal adult working life that most people desire is probably the one where they work hard to

I Learned… This workshop focused on helping students to learn about their options in order to pay off student loans. During this workshop, I learned about the programs under the federal student loan program that will be helpful in paying off loans including: the grace period after I graduate and certain loan forgiveness programs. I also learned how to calculate repayment using a method which allows you to calculate how much your monthly payment could be in order to be paying off the principal of the loan. Other additional repayment options are paying loans off using the pay as you earn option, which is income driven and allows for you to pay off loans based on how much you earn.