Student Loan Debt

The 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 a four-year public college in the United States. Tuition for private universities is typically more expensive, ranging from $35,000 to $50,000 annually on average. This essay will argue how people are affected by these rising costs, both while …show more content…
The federal government has set up options for the average person to lessen their debt and become able to get loan forgiveness. Since the plans are so new, some people just aren't told how to get around student loans with their very own benefits, and need to be made aware of what the government doesn't tell them. The president of Macalester College, Suzanna M. Rivera, speaks up on the matter of student loans, stating that she would not have gotten the education that changed her life without them (Rivera). However, some individuals may argue that a college degree is still a valuable path to take, despite the cost that comes with it. Supporters believe that obtaining a higher education offers people many benefits, such as a higher chance of getting a stable career, higher lifetime salaries, and greater social standing. A report from the Georgetown University Center on Education and Workforce Research states that college graduates make $1 million more than high school graduates throughout their lifetime (College Payoff). This stance suggests that the long-term financial benefits of attending college are worth the …show more content…
The ongoing stress of having to pay back all the money you borrowed can cause long-term anxiety, depression, and stress. The American Psychological Association has drawn attention to the mental health crisis that affects college students and found a connection between financial stress and both a decrease in academic performance and an increased risk of mental health problems. Graduates' ability to deal with post-college life is made harder by this mental stress, which can cause a lot of problems in one's general quality of life. Spencer Bokat-Lindell calls on the way opinions have changed in the discussion over student debt. People are pressing for debt relief more and more because they believe it to be an issue of equality. They argue that students are particularly impacted by the current system, especially those coming from lower-income households. They believe that, like K–12 education, education ought to be viewed as an asset to the community. Fairness, however, worries some people, specifically those who have already paid off their debt. This is what makes the problem worse than it already

Show More