Student Loan Debt Is Not Just Harming Students - 1393 Words

Each semester the student loan debt increases, and the scary part is that in some cases students will never be able to pay off their debt. Previously, young people would attend college to increase their chances of success in the future; however, now a days it seem like it is more of a financial burden than an investment for the future.{If something is not done to manage the increasing student loan debt, the economy as a whole will also fall into a financial crisis}. Something needs to be done about the student debt in the United States. A proposal should be done to insure that the number of students who fall under student debt have a way to come up from it without the struggle of increase interest rates and a bad credit score. Student loan debt is increasing every year, and some students don’t understand the burden that could come from borrowing money to pay for college. Student loan debt is not just harming students, but also families and the United States economy as a whole , a solution to this problem would be to cancel student loan debt. The problem this debt is that â€Å"The cost of higher education is increasing at an alarming rate, particularly at four-year public institutions. According to the College Board (2009), public colleges costs are rising faster than private institutions, and undergraduate students are facing new pressure to pay educational expenses.† (SOLIS DURBAND 1). This can be a real problem for students who choose to take student loans to pay for collegeShow MoreRelatedStudent Debt And Its Effect On College Education1511 Words   |  7 PagesTwo-thirds of students graduating from universities in America are graduating with some level of debt. This debt has reached a whopping $1.2 trillion. And 40 million is now the number of people who make up this monumental student debt. As a former student in community college I understand completely the financial burdens that might come along with education. So I can only imagine how e xpensive it gets for students in four-year institutions. In your line of work I’m absolutely sure you can relateRead MoreEssay On Student Loans768 Words   |  4 PagesEducation in recent times has embraced a new system regarding student loans, bringing on board a customer-friendly policy. According to this new scheme, students will now have access to loans with easier and less complex repayment terms. This development will help them fast-track the repayment of their debts without hassles. The Department of Education also integrated an income-based repayment plan: a flexible approach geared at facilitating student finance in their most dire hour of need. Sadly, despiteRead MoreThe Rate Of Student Loan Essay1456 Words   |  6 Pages Student loans, also often called student debts, are financial aids in a loan form that requires borrowers to repay in the future (Wikipedia). Usually, student loans mean to provide students with financial issues the opportunity to obtain a college degree, which leads to an average lifetime income increase of $1.13 million for men and $792,000 for women (University of Kansas 1). As student loan aims at helping people live a better life, many college students exhibit negative attitudes towards interestRead MoreEssay on The Government Should NOT Forgive Student Loan Debt1761 Words   |  8 Pagesdegree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. 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Especially in recent years, credibility scandals stacked, such as the Enron Scandal the company kept huge debts off the balance sheets, it makes shareholders lost $74 billion, after this there are also the WorldCom Scandal in 200 2, the company underreported costs and inflated revenues with fake accounting entries, total inflated assets by $11 billion, and $3.8 billion of revenue fraud (Moberg Romar)Read MoreShould Sex Offenders Be Allowed?1544 Words   |  7 Pageslasting debt to society many struggle with adapting to life on the outside. Much of their time is structured, as they are told where they can live, how they can interact with people, or even where the can work. Many lives of the convicted are hindered because of the laws we have set in place for them. The words â€Å"sex offender† immediately make you think of horrible memories of a crime show that portraits sex offenders being a stranger who over and over again rapes women, or a pedophile harming multiple