Student Debt Is A Large ( And Growing ) Problem - 1811 Words

Student debt has become a large (and growing) problem. The high levels of student debt have served to perpetuate economic inequality, minimizing the opportunity of higher education. In a speech this year, President Obama called higher education one of the crown jewels of this country and said it was the single most important way to get ahead.† The long term impact of student loans have given students every reason not to want to attend college, including myself. That alone has the potential to harm colleges and universities across the country. The Consumer Financial Protection Bureau said student debt is one reason that people between the ages of twenty and thirty seem to be living a prolonged adolescence, or living with their parents.†¦show more content†¦Marco Rubio has committed to tackling college affordability. He is supportive of repayment plans based on percentage of income between students and private investment firms. As president, Rubio will simplify existing incentives to help students pursue higher education and modernize the system to fit twenty-first century economy. â€Å"Our current higher education system is outdated and fundamentally broken. It is too expensive, too time consuming, and too difficult to access,† Marco said. â€Å"To make the 21st century an American century, we must bring higher education within reach of all.† Another candidate with a strong record of advocacy for college affordability is Bernie Sanders, my personal favorite. Bernie has called for tuition-free courses for freshman and sophomores at public universities. He recently developed a plan to provide $18 billion per year in federal grants. â€Å"We must fundamentally restructure our student loan program,† Bernie stated. Sanders’ main concern is with how the American government will be able to afford increased funding for higher education. â€Å"We need a revolution in the way higher education is funded,† Senator Sanders s aid recently during a speech. When asked about his solution to the student loan crisis in an interview, Ben Carson reiterated his belief in the importance of work by saying, â€Å"Many people getShow MoreRelatedThe Cost Of Obtaining A Higher Education1633 Words   |  7 Pagesthe approximate amount of people in the United States that owe a collective total of $1.2 trillion in student loan debt (Dynarski par. 1). They are only gigantic numbers on paper, but in real life, their meaning is life changing. People are struggling in ways that those viewing the numbers can barely fathom, and the effects are alarming. The cost of obtaining a higher education is showing problems for the people, the economy, and the future of America. Jeff Rausch finds the statistic alarming- $1Read MoreStudent Loan Debt And Its Effect On Our Economy1431 Words   |  6 Pagesyears student loans has increasingly began to affect our economy and is a large and growing issue. Mounting student loan debt is ricocheting through the United States, now affecting institutions and economic patterns that have been at the core of America s very might (Holland 2015). General economic principles are affected by the constantly growing student loan debt in the economy. Macroeconomic indices are identified and defined with their roles in student debt growth and affect in students’ livesRead MoreIs College Worth The Cost?1296 Words   |  6 Pagesgreatest colleges and universities in the world. But with an overwhelming 1.3 million students graduating with an average student loan debt of $29,000 each and with youth unemployment elevated, the question of whether or not college tuition is worth the money arises (The Institute for College Acc ess Success, 2013). Higher education faces intimidating challenges: continually rising costs, access and completion problems, constant changing of technology, and responsibility pressures from state and federalRead MoreWhat Is Facing The Class Of 2016?1394 Words   |  6 Pagescartoon contains of a green monster with long sharp teeth opening its mouth wide with a â€Å"welcome graduates† mat on its tongue. The monsters mouth is just a large black hole and in the middle of the mouth the words â€Å"student debt† is written in white. Student debt has been an extensive problem recently because many people are grasping how much debt they can acquire from trying to get a good education to start a good career and be financially stable. A recent controversy has shadowed the new SecretaryRead MoreWill Free Colleges Solve The Student Debt Crisis?1479 Words   |  6 PagesColleges solve the Student Debt Crisis? Every American student has a dream to go to college and to be debt-free. Due to the upcoming presidential elections, candidate Senator Bernie Sanders wants to introduce a bill that would cover the tuition costs for students who attend two and four-year institution. This question makes many Americans wonder, will free public colleges solve the student debt crisis. Although free tuition would help stop the fast-paced growth of the Student Debt Crisis, it is probablyRead MoreStudent Debt Is A Form Of Debt1576 Words   |  7 PagesStudent debt is a form of debt that owed by an attending, withdrawn, or graduated student to a lending institution. The lending is often of a student loan, but debts will be owed to the school if the student has dropped classes and withdrawn from the school. Withdrawing from a school, especially if a low or no-income student has withdrawn with a failing grade could deprive the student of the ability of further attendance by disqualifying the student of necess ary financial aid. Student loans alsoRead MoreThe Cultural And Global Impact Of College Tuition And Student Loan Debt1442 Words   |  6 PagesThe Cultural and Global Impact of College Tuition and Student Loan Debt Introduction College debt is quickly rising as more students pursue a postsecondary education. Tuition is growing at a rate higher than inflation, thus forcing many students to make up the gap between income and tuition through loans (Houle). However, cultural factors must be considered before a young adult makes a decision about higher education. The type of postsecondary education one pursues, if any, is determined by manyRead MoreHigh School Vs. The Federal Government1327 Words   |  6 PagesAs a boy growing up my parents insisted that I would be attending college after I graduate 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 to 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, man yRead MoreShould College Athletes Be Paid?1390 Words   |  6 Pagescan generate for schools, student-athletes should receive some amount of compensation in addition to any scholarships they have. In my essay, I will present the argument for and against paying college athletes on an economic level. I will also examine recent court cases involving the issue. Athletes being paid illegally on recent occasions will also be briefly discussed. With the rising cost of education, more and more college graduates finish school with large debts before they even have theirRead MoreStudent Loans And The American Dream1708 Words   |  7 PagesIs a College Degree the Key: An Analysis on Student Loans and the American Dream These days, going to college is hailed to be the solution, the key to making something of oneself in life. It is celebrated as a part of life that will make a person successful and rich later on. A degree is essential to making one’s way up the 21st century economy. College is meant to give people a chance at the American Dream – an education, a job, money, and quite possibly a spouse. But is that promise too good to