Student Debt After College Essay

According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.

Loans can quickly turn into a substantial amount of debt by the time a student completes their standard 4 year degree. As a result, this debt can carry on throughout their adult life and make starting that life more difficult. “A record share of students are leaving college with a

Burden of College Debt College is meant to be a chance to introduce new opportunities to growing adults, and to offer them a career path that will sustain them financially. It's a way to reach for the above and beyond and make one’s dreams possible. However, college is frequently accompanied by hefty student loan debt, leaving the achievement of those dreams completely out of the question. Even after obtaining a good college degree, students are often tied down by their student loans, which can significantly impact their future prospects.

The Student Debt Crisis The look into college can be frightening these days. College seems to be an overwhelming topic because of the expenses. Over 50 million college students are in debt in America, collectively owing almost over 2 trillion dollars. The student debt in America is a serious problem for many young Americans trying to get a higher education and continue on with their lives as adults.

However, student loans are not offered to every student and if a student was to receive a loan they still have to pay it back fully or with interest. for instance, “1-3 trillion dollars of student loans, and 6 million vacant jobs that no one is trained to do” (rowe, E). Not only is there over a trillion dollars worth of debt that needs to be paid off, there are also millions of jobs that are not filled because of a large skill gap. it was also stated that, “students today are taking on More debt, and recently Tiding bankruptcy laws make it more difficult to shake that debt” (Wicker, F). All summer saying colleges or cheaper, they are wrong because the initial cost may be cheaper but the amount of debt that is left over is very large and paying off his debt because for a teenager who is learning and looking for a job while making no

Introduction Americans have almost 17 trillion dollars in debt in total in April of 2023, in which around 10% of that debt is student loans. Student loans are a big issue because they contribute to the harm of many student's careers early on, delaying when Americans buy houses, cars and other financial decisions. Student debt is a big dent in the economy, but many say that this is a nessasary evil, required for the population to afford their education. Student debt could mean the difference between your dream school and job but also comes with the downside of debt before your first job. Student debt is problem for many students across the globe but is a big problem In the US.

We have seen that student debt can influence the path on which life lies quite heavily. Student loans can take a fair amount of debt and transform it into lifelong expenses comparable to mortgages. Essentially college debt is the outcome of an extended failed loan repayment. “And unless wages increase and college costs decrease, students will still need to take on debt to complete degrees, and they’ll face greater difficulty repaying loans.” (Helhoski, para. 2).

Some ways to help understand the graduates' situation better is to calculate the total debt, and come up with a schedule and plan on how to pay it back when payments are due (Epstein). Identifying the interest rate and payment rules of each loan taken can help to avoid interest and fees when paying back your debt (Epstein). For graduates, considering a consultation may help to push back and lower payments for now (Epstein). “But there's really only one bad option if you are having difficulty paying your student loans: to do nothing and hope for the best. Your debt problem won't go away, but your creditworthiness will” (Epstein).

More than 40 million Americans have student loan debt which is about 1 in 5 U.S. adults. For as long as education has been pursued, college has been a thing. Along with college comes tuition and other college expenses which are not cheap. Since the early 90s, students and parents have been suffering from student loan debt. In fact, according to the United States Department of Education, the average student loan debt has more than doubled from 1990 to 2010 and is continuing to rise (ProCon.org).

About 17.4% of Americans endure the affliction of college student loans. That’s about forty five million people who have borrowed student loans. But looking into the past, the 50s and 60s specifically that was not the case: the average college student's tuition was free or had a very low fee of a thousand dollars or less. Comparing this to the ever mounting 1.76 trillion US dollars of college debt, there's obviously a huge need for reform as this sets many young students into debt early on. College student loan debt is one of the most punishing grievances that affects the lives of most young adults living in America this 21st century.

More than forty-five million Americans are currently suffering from student loan debt. Student debt has been an ongoing dilemma for decades. People have opposing opinions on who is to blame for this conflict, with one side believing the parents’ and students’ are at fault, and the other believing the colleges are to blame. Although there have been many plans to help solve this issue, it unfortunately still remains a problem. Student debt in the United States is an issue that affects current and former college students and can be solved by forgiving or decreasing student loans.

The tuition and cost of college is detrimental to thousands of families across the country and brings student debt to future graduates. Some students have seen their debt climb over $30,000. Friedman writes, “The average student in the Class of 2016 has $37,172 in student loan debt…” (Friedman). With the debts being over the average income for single people households, college has transformed from a benefit to a burden. Young adults not only have to worry about their education but also paying for the next semester or years of college ahead of them.

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 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