The Pros And Cons Of Student Debt

Hello, Professor Gray, The lost loan repayment plan would have a positive impact on the taxpayers by working with your loan servicer to choose a federal student loan repayment plan to make loan payments more fordable giving the loaner more time to repay their loans based on their income. Student loan debt is referred to as installment debt, which means you have fixed payments for a specific period of time. The interest you pay on your student loans is tax deductible that would put additional funds that could be used to purchase items that would increase spending with will help build the

In today’s society, it has been found out that college graduates have a hard time seeking a job and end up with a sky-high student debt. This reality then poses a question, is going to college worth the time and money? An essay in the New York Times published in May 2014 entitled, “Is College Worth It? Clearly New Data Say,” by David Leonhardt states, “For all the struggles that many young college graduates face, a four-year degree has probably never been more valuable” (33). In his essay, Leonhardt sets the stage by describing the struggles a college graduate might have such as student debt, no work after graduating, and accepting jobs they feel overqualified.

In the U.S, there is a huge problem facing the government: student debt. College students are graduating from school with huge amounts of debt and loans borrowed from the government. Many students have a hard time finding a job upon graduation and have no way to pay back their loans. This hurts the students as well as the government and the economy. The student loan crisis keeps getting worse and worse.

I agree with the goals of the affirmative side. But, we need to provide relief for new college graduates. But this bill doesn't get us there so please negate. If we want make a cushion for the students, then we need to make a bigger one. The national student loan default rate, 11.8 percent a year ago, stands at 11.3 percent.

“As college students head back to the classroom this semester, a harsh reality confronts them - the rewards for the time, energy, and money that young people put into college are less than they were a decade ago”(Source C). Young college graduates have seen wages, deteriorate. This lack of wage growth has been surprising to those who have read about the ast unfilled need for college graduates. After gains in the 1980s and 1990s, hourly wages for young college graduated in 2000 decreases. For young college-educated men in 2000 hourly wages were $22.75, but almost dropped a full dollar $21.77 by 2010.

Author, Sandy Baum writes about how student debt affects individuals in the book Student Debt: Rhetoric and Realities of Higher Education Financing. “It seems quite clear that student debt has generated serious harm to some individuals” (Baum 70). In stating this, most people do not want to go to school because they believe

“The dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to his ability or achievement (Adams 1).” A 2002 study found that 17% of student loan borrowers reported their loans had a significant impact on their career plans.13 Today, after the economic downturn, ASA’s survey suggests that number has nearly doubled, as 30% of respondents said their student loan debt was a deciding factor or had considerable impact on their choice of career. In addition, 52% said they either strongly or somewhat agreed with the statement that their “need to pay student loan debt is hampering my ability to further my career.” One ASA survey respondent commented, “I need to have two jobs because of my student debt, and I cannot take employment opportunities that will not make enough money, regardless of the potential that they may have in the future (American student assistance 5).” Relates to definition because they need to have 2 jobs to be able to pay off student debt.

There is many people that go to college, but because of the cost they don't get through college. The elevated costs of college cause not only students to struggle paying for college, but also to struggle financially paying for college when they are done. In many cases, after graduating, young adults who don’t find a job will become poorer, increasing the gap between the rich and the

Delbanco explains how students have changed their reasons for attending a college when he states, “...yet on the assumption that immersing themselves in learning for the sheer joy of it, with the aim of deepening their understanding of culture, nature, and, ultimately, themselves, is a vain indulgence” (222). Secondary education has become too expensive for learning to be an indulgence. Students only go to college to get a degree in order to gain a high paying career. Davidson explains how dire the situation with low paying job is by saying how the process should work, “Only through productivity growth can the average quality of human life improve” (339). Unfortunately, the productivity growth only leaves a bigger pay gap.

The introduction, the thesis, the body, and the conclusion are necessary for an essay to be effective. Some authors are able to produce such an essay, but others are unable or choose to make an essay without the necessary parts. Two authors debated on the subject of student loans and both had different views. The first author is Robert Applebaum who is a graduate of Fordham University School of Law and his essay is titled “Debate on Student Loan Debt Doesn’t Go Far Enough” republished in 2012 talks about forgiving student loan debt and why there is a problem he states, “Adopt legislation that forgives excessive student loan debt after a reasonable repayment period”. The second author is Justin Wolfers an economist who graduated from Wharton

In the article “Debt Education: Bad for the Young, Bad for America”, Jeffrey J. Williams explains the damage student debt causes past and present college students. Williams argued that more than half of the college students and their families are in debt from having to make such large payments toward the rising costs of colleges. Though, Williams also states a higher degree or education will lead to a high income and all around better jobs, the risk of being unemployed after college is too great. This is considered to be good for individuals, as it will maximize their economic potential. It is also good for society as a whole as people are getting better education, and rising to greater expectations in the world.

Since tuition has risen 3 times higher the rate of inflation in the past 10 years, this increase a student’s chances of not being able to afford higher education and also gives them a better chance of accumulating debt post-graduation. Some people think that the college education they acquired did not fit the amount they paid for it, even if they pulled out loans or were an ideal candidate for a scholarship. This is a scary fact because higher education can determine if you thrive

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.

Student loans have always seem to be a controversial topic. Many people are in agreement and disagreement over the opportunity to student loans. Student loans can be a great advantage to many students, but it can also drown them in an immense debt, that will follow them for many years. The more we analyze this perspective, we are able to distinguish the advantages and disadvantages of student loans. There is a variety of perspectives on student loans, some involving annual salaries, interest rates, and commodity.

The phrase “education being worth it no matter the cost” has been drilled into students as well as their families. This has led to student loans eclipsing a total of $1 billion every year, and in total reaches more than $1 trillion. While most loans don’t have to be paid off until after graduation, many students aren’t able to find jobs to subsidize the loan payments once they have