Student Debt Book Review

Words: 1303
Pages: 6
Open Document
Americans are pushed towards college their entire life. Elementary, middle, and high school teachers around the nation promise their students that college is a surefire route towards success. While walking down the halls of their schools, students will notice advertisements lining the walls for different universities and scholarships, further pushing them towards college. Furthermore, there exists a social stigma for those young men and women who decide not to attend college immediately after their high school graduation. Many of these sentiments are correct, or, at least, made in good faith. After all, with an incredibly competitive job market, college is one of the few ways for young Americans to give themselves the edge they need to secure …show more content…
Many Americans – especially those from older generations or wealthy backgrounds – have little empathy for those experiencing the heavy burden of student debt. If those individuals had a firm grasp on the quality of life and overall tribulations that borrowers experience, perhaps, they would develop sympathy and recognize the importance of government action regarding student debt. In the preface to Student Loan Scam: The Most Oppressive Debt in U. S. History and How We Can Fight Back, Alan Collinge outlines his own personal experience with debt that inspired him to become a “...crusader for student loan justice.” Collinge describes how, while earning three degrees, he accumulated about fifty thousand dollars of debt. After consolidating his loans with a company called Sallie Mae, Collinge was quickly beginning to realize that, due to crooked federal laws and exploitative practices on the part of Sallie Mae, the odds were not in his favor. He resorted to quitting his job in hopes of finding one with higher pay, while his debt is only increasing due to high interest rates. All this spiraled into, what he describes, “a web of debt, the amount of which was now so far above what [he] had initially borrowed that it meant, in effect, a lifetime of indentured servitude.” This encapsulates why debt relief and forgiveness is so essential. No mistake makes someone deserve such a low quality of life, especially not if said mistake is pursuing a deeper education. Because of this, it simply does not matter if student loan forgiveness is exactly the best solution, or if it potentially fuels government overspending. The situation is dire, and people like Collinge desperately need
Show More

Related Documents: Student Debt Book Review

Police Officer Essay

contribution is based on the information you reported on the PFS, which is summarized in the left-hand column. Simply stated, the formula considers your income, what you own (your house and other investments), what you owe (your mortgage and other debts), the size of your family, and how many family members are enrolled in tuitioncharging schools or colleges. FAMILY CONTRIBUTION REPORT Academic Year 2014-2015 January 01, 2014 Doris Scott PFS ID: L050533064 PFS Submitted: 12/13/2013 SUMMARY…

Words 680 - Pages 3

Business Essay

Education for All Lowering Tuition Costs Prepared for Students, Parents, Teachers, Guardians, And all other interested parties Prepared by Student Helping Students Mele Taufa Jason Wright Nathan McGriff Orem UT, 84058 December 9, 2013 Student Helping Student 800 W University Pkwy Orem, UT 84058 December 9, 2013 To whom it may concern, We at Student Helping Students LLC are dedicating improving the quality of student education and wellbeing inside and outside of school. We believe…

Words 5945 - Pages 24

Balance Sheet and Barnes Essay

Barnes & Noble Amber Whatley BUS650 Dr. Leon Daniel March 14, 2015 Barnes & Noble The purpose of this paper is to provide an overview of Barnes & Noble, including background information. It will also provide a financial statement review as well as Pro Forma financial statements (Balance Sheet and Income Statement) for the next two fiscal years, assuming a 10% growth rate in sales and Cost of Goods Sold (COGS) for each of the next two years. This paper will give a ratio analysis for the last…

Words 1487 - Pages 6

Taxation in the United States and Monthly Mortgage Payment Essay

the financial life cycle. During this longest stage of the life cycle, the Dumonts will establish their lifestyle and build a foundation for the two later stages. This phase is characterized by: • Family formation. • Goal setting. • Home buying. • Debt planning. • Savings accumulation (emergency fund, home down payment, children’s education fund, and retirement). • Insurance planning (medical,…

Words 3672 - Pages 15

College Education Essay

College education College has been a form of higher education that students can attend after high school. In today’s society, it is frowned upon not to go to college after high school and for the most part, it becomes very difficult to have people consider hiring someone who didn’t attend a college. Many higher paying jobs are requiring a degree from a college and look at your GPA (grade point average) to see how capable the person is. Society makes a degree almost essential to our American society…

Words 1368 - Pages 6

Advanced Financial Statement Analysis - Leon's vs the Brick Essay

circumstances are summarized as follows: o Leon’s - June 2007 4:1 stock split – adjusted number of shares outstanding in order to normalize per share based valuation criteria o The Brick - December 2006 reclassification of current portion of longterm debt to long-term debt in recognition of confirmed refinancing of term credit facility on a long term basis o Leon’s and The Brick - minor adjustments to previously presented financial statements were made to conform with presentation format used for current year…

Words 4513 - Pages 19

Essay on 3350 Outline

manage short-term capital) Capital Structure Analysis (optimal debt/equity mix and long-term sources of capital) Dividend Policy (management decisions to pay out earnings to the firm shareholders) Additional important topics covered include financial and ratio analysis, leasing decisions mergers and acquisitions, as well as an introduction to derivatives use and risk management. Course Learning Objectives By the end of the course, students will be able to use course concepts and techniques to analyze…

Words 1968 - Pages 8

Deluxe Corporation Teaching Note Essay

regarding the firm’s financial policy. Some special considerations are the mix of debt and equity, maintenance of financial flexibility, and the preservation of an investment-grade bond rating. Complicating the assessment are low growth and technological obsolescence in the…

Words 4179 - Pages 17

A Syllabus 801 Fall 2014 Essay

this course is to provide an overview of modern corporate financial methods with an emphasis on valuation. This will include valuation of real assets, securities, real options and derivative assets. The course should be useful to all graduate students preparing for careers that have at least some financial analysis component. Additionally, this course will serve as a solid foundation for further graduate study in finance, in particular, finance 852 (Financial markets and strategies) and finance…

Words 1097 - Pages 5

Essay on Long-Term Financial Decisions

Leverage and Capital Structure Dividend Policy INTEGRATIVE CASE 4 O’GRADY APPAREL COMPANY CHAPTER 11 The Cost of Capital INSTRUCTOR’S RESOURCES Overview This chapter introduces the student to an important financial concept, the cost of capital. The mechanics of computing the sources of capital-debt, preferred stock, common stock, and retained earnings are reviewed. The relationship between the cost of capital and both the firm's financing activities and capital investment decisions is explored…

Words 4674 - Pages 19