Student Loan Debt

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When people think about college the first thing they think of is not student loan debt. They think of getting an education that will help them provide for the lifestyle they want to have in the future. Most college students will end up using student loans to help pay for college; but is using student loans going to effect those students in the future? Student loan debt can prevent students from going to college, can hurt adults financially, and they will never go away. As time passes college continues to become more expensive many low-income families cannot afford to send their children to universities without the help of student loans or scholarships. Applying for students do not just stop after freshman year, this process goes on for the whole college process. Many loans increase as the student progresses through college. After college is when the students have to start paying back the money they borrowed during school. When paying for this they not only have to pay the $5,500, they also have to pay the interest rate. “The fixed interest rate is 5%, and loans to undergraduates go up to $5,500 a year.” (“What you should know about student loans”). The increasing rate of interest is what scares most people away from applying to student loans. With the …show more content…
“According to an Associated Press analysis, 53 percent of recent college graduates are either unemployed or not putting their degree to use.” (Lewis and Zaidane, 587). Most graduates are also having a hard time finding jobs due to the weak job market. This is making it harder for them to make their payments on time. This can also prevent most adults from purchasing a house or starting a family. Most adults call off any future plans due to their debt. Making a payment late or having one overdue can affect an adults credit rate and make it harder in the purchasing of a new car or anything involving a good credit

Student Loan Debt

expensive reality of high tuition costs and growing student loan debt often contradicts the ideal of a college education. The goal of being a college graduate might result in a lifetime of severe student loan debt and crushed dreams. The number of students and graduates who are currently dealing with the financial repercussions of attending college or university is rising. In-state students pay between $10,000 and $20,000 and out-of-state students between $25,000 and $35,000 annually for tuition at…

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Student Loan Debt

college education is worth all of the stress and debt it puts you through? College is an important aspect of life for many people, whether it’s because it creates more job opportunities and a higher income, or because it just provides learning opportunities for useful skills. However, there are two opposing sides to the question of whether a college education is worth it or not. Some people believe that a college degree is not worth the student loan debt and stress, and that it is not necessary for most…

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Student Loan Debt

average students end up paying in student loans in North Carolina for their first year. 61% of students that come out of a four-year university in North Carolina end up paying almost six times that much when they get out of school depending on how long they stay in school(Friedman). Now some students end up paying more or less depending on their specific situation. The government now is very much running out of money to supply students with for their education. The national student debt is $1.31…

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Student Loan Debt

it appears that high school students are being pushed to attend college far more than in previous generations. It seems that this pressure is coming from many different sources. For instance, there are many jobs that are unavailable to high school graduates without a college degree. There is also the social stigma that surrounds students who do not attend college, giving them the false persona of being uneducated. High Schools could also be blamed for pressuring students, encouraging them to chase…

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Student Loan Debt

Why does student in college try tried to borrow money for the loan and what good it would would it be if you have to pay the loan back later? Student loans debt is a major problem in this society. It has escalated over the years as more people attend to college. Americans postulate that going to college give them great opportunity of success in life and earn better salary. For example, people who live in low income level are more likely want to improve their life and security. However, going to…

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Student Loan Debt

Grace Ross Mrs. Harvey English 12 6 May 2024 Should College be free? In America, roughly 43 million people are in student loan debt. The average student has $32,731 in student debt. Student debt is the 2nd largest category of consumer debt in the country. Because of this, only 50% of people have a college education. Affordability is one of the main reasons why people don't go to college. College should be free so more people have the opportunity to further their education, regardless of their financial…

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The Importance Of Student Loan Debt

fear of enormous amounts unpayable student loan debt. Currently in the United States, more than 40 million Americans hold student debt adding roughly to about 1.2 Trillion dollars. The average student loan debt grew 56% over the past 10 years.The population with student loans is actually greater than the entire population of Canada, Poland, North Korea, Australia and more than 200 other countries. Matter of fact, senior citizens have $36 billion in student loans.…

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How To Abolish Student Loan Debt

Student loan debts have become a significant burden on people seeking higher education in the United States. The current system of student loans not only hinders economic growth but also perpetuates inequality among students from different socioeconomic backgrounds. Therefore, abolishing student loan debt is a moral imperative and an essential step toward creating a more equitable society. One of the primary reasons why student loan debts should be eliminated is to alleviate the financial strain…

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The Pros And Cons Of Student Loan Debt

practicality becoming the new student loan debt relief option? A college education is part of the American dream in finding the 'perfect' job to support growing families. Earning potential plays a big role in choosing a major. Employment opportunities and salaries are key factors in choosing not only a major but also which school to attend. It is hard to avoid the idea of how money plays an even greater role now in selecting a college to attend. With the recent federal student loan interest rate increase…

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How To Reduce Student Loan Debt

analysis, 53 percent of recent college graduates are either unemployed or not putting their degree to use” (Lewis internet). However, attending college can guarantee a near insurmountable mountain of student loan debt that one has to pay for out of pocket for the rest of his or her life. Student loans can cause a variety of problems for individuals. They are not only a financial burden, but they also stop many people from even going to school. The cost to attend a public university has doubled since…

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