Student Loans Research Paper

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Nearly 40 million of Americans hold student debt and 71 percent of four year college students graduate with loans. Rubbutalling that statement a University graduate named Matt Hopster said, “I don’t regret them because I feel like education is a very important investment, it’s important to everyday life and to career fields” (Fortenbury). Student loans are designed to help students pay for tuition, living, and books. Overtime these loans accumulate interest causing the individual to have to pay more than they originally took out. There are four types of student loans and they occur all over the world: Federal, which are Funded through the U.S. Department of Education and usually have flexible repayment terms and lower interest rates. State, …show more content…
College tuition can range from in price from a community college costing $3,000 a year to a private college costing $35,000 a year. Choosing what college you are going to attend is a lifelong decision that will affect you for the rest of your life. The cost of the university you choose to attend will determine whether you will have a loan or not and how much money an individual will have to take out. A countless amount of people rely on these loans as an opportunity to attend their dream school or the school that has the major that they are looking to study. Without this many students would not be able to attend a college or university at all. Countless amounts of people think that student loans are a bad thing, however, if you know how to maintain them and be responsible with your money there is nothing wrong with taking them out. It can be argued that student loans can leave you with a bad credit, disproving that argument, according to the Nonprofit American Student Assistance Organization “Student loans can positively impact your credit score if you’re diligent with repayment” (Fortenbury). This scholarly author allows sceptics to see that student loans can play a positive role in affecting one's …show more content…
In order for an individual with a college degree to make approximately $7,000 more a year, taking out student loans is likely necessary and definitely worth it. In a survey conducted by Kristen Wong four out of five people said yes, the loans are worth it, one man said, “student loans have opened so many doors and have allowed me to make a name for myself.” There are many positive things that can come from student loans, but in the end, it is about whether you choose to make them a positive thing or not. When thinking about these loans use the motto, “hard work pays off.” If you choose to not work hard and put in the effort, than the loans will likely catch up to you, and become very difficult to
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