Debt In College

College not only allows you easier access to a steady above minimum wages but also access to more life itself. Imagine yourself as a 80 year old grandparent, you could die pretty much anytime at that at age, but you can spend more time with your future family if you decide to get a Bachelor’s degree. I know this may sound as ludicris as the early 2000’s rapper, but according to the Center of Desease Control (CDC) “Between 1996-2006, the gap in life expectancy at age 25 between those with less than a high school education and those with a bachelor’s degree or higher increased by 1.9 years for men and 2.8 years for women. On average in 2006, 25-year-old men without a high school diploma had a life expectancy 9.3 years less than those with a Bachelor’s degree or higher. Women without a high school diploma had a life expectancy 8.6 years less than those with a bachelor’s degree or higher.”

When people think about college student?s financial status, they often think they are going to be broke from student loans. What most people do think about when it comes to college students is credit card debt. And if people do think about it, the students are often blamed for the debt because many people still think they are you kids who are irresponsible when It came to money. In the article, ? The Credit Card Company Made Me Do It? ?

During a press conference in Washington D.C., democratic presidential candidate Bernie Sanders proposed six action steps to make education tuition and education debt free with the purpose to increase the affordability of higher education and help students graduate from college without a debt burden. However, as favorable as Sanders’s plan sounds, current debates prove it to be double-faceted. On the positive end of a spectrum, Sanders’s notion will create an influx in quality human capital by lifting the burden of expensive tuition and high loan interest rates, thus allowing more students to attend college, which in the long run will benefit the economy. On the other end, the means of revenue (the Wall Street Speculation Tax) needed for the

“With more than $1 trillion in student loans outstanding in this country , crippling debt is no longer confined to dropouts from for-profit colleges or graduate students who owe on many years of education”. Students or future college students are struggling to figure out solutions to pay off college debt. With rates increasing every year , it is becoming extremely difficult to receive an education and overcome tremendous debt at the same time. However , there are several possible solutions that can help solve the issue of high tuition fees. The first solution is to attend a group called the Scholarship Sharing.

“It is not where you come from. It is where you are going that counts.” As aforementioned, Ella Fitzgerald says this to anyone at any stage of their life. She emphasizes the importance of looking ahead into your future, whether applying to college, improving upon your mental or physical health, working a job, or spending your life with a perfect person. This message is heavily put on college students and all their future decisions.

The Effect of College Debt on Students Many people take on debt to pay for college. This debt often affects the choices that students will make once they get out of college. Some manage to pay it off relatively quickly while others deal with college debt for the rest of their lives. Some may even manage to come out of college with zero debt, but that rarely happens.

My family has already had one son go through college and another one is currently a sophomore in college. I have another brother that is a freshman in high school, so this means that my parents will be helping pay for two college educations for half of my college career. College costs could place undue financial burden on my family, this is why I hope to remove college debt by obtaining financial help through

However, when having a job may help with college debt it is also important to recognize that it does not help entirely when work starts to become more of a priority over school. As well as, young students may not be able to acquire a good grasp of how too take care of money properly and to evenly spread finances across all needs and wants. And secondly as another alternative solution could be starting out slowly and going to a community college so that college debt can be slow and that it will be more bearable to handle when going to university if that is a choice to pursue even further for a student’s education. In the article, ‘Paying for College Without Loans, Scholarships, or Looting Your Parents Retirement” it writes, “We’ve seen something of a devaluation of a bachelor’s degree in the job market.” (Steinberg

Most of my friends who are currently in college have between 5000$-20.000$ in federal and private loans. In many cases, besides for the loans, students have to work and study at the same time, which results in a stressful life for the student. In fact, many students are not able to finish their education because, since they can’t afford it, they have to work over their studies. Out of all the possible reasons to drop out of college, “the No. 1 reason many young adults drop out of college is an inability to juggle school and work” (Johnson). Finishing college is the most decisive forecaster of prosperity in the workforce and the inconsistency in college completion between children of rich and poor families duplicated since the late 1980s (McGlynn 55).

Hourly wages are dropping and “it will likely be many years before young college graduates-or any workers-see substantial wage growth” (Source C). Since wages have dropped it is becoming pointless to get a degree due to the amount of debt and stress caused. Even though, we need to learn, higher education is becoming a risky

The first thing that they might bring up is that college education makes more money which in return can pay off your student loans as said, “While the income for those with a bachelor 's degree was $65,482, and $92,525 for those with advanced degrees. [110] The median income for families headed by a bachelor 's degree holder was $100,096 in 2011.” (college-education) The next point they might bring up is that more and more jobs are requiring people to have some sort of college degree as said here, “According to a June 2016 study, 99% of job growth (or 11.5 million of 11.6 million jobs) between 2010 and 2016 went to workers with associate 's degrees, bachelor 's degrees or graduate degrees. [104] Based on economy and job projections calculated by Georgetown University, in 2018, approximately 63% of jobs will require some college education or a degree.

Living where we live, you begin to comprehend that living off of $11.00 per hour including with your family will never suffice your needs. Getting a college degree can ensure the graduate a higher chance of being able to earn more financially. In the article “Why College Isn't And Shouldn't Have to be For Everyone” by Robert Reich, he states that “A degree from a prestigious university can open doors to elite business schools and law schools-and to jobs paying hundreds of thousands, if not millions. ”Even though Reich’s article is on the opposing side of the argument, he fails to overlook the fact that in the long run having a college degree will, and can open doors to many new opportunities. One of those opportunities is to be able get a well paying job that can earn more than the average non college graduate.

College education doesn't guarantee employment. In 2012, there was a lot of evidence suggesting the education to work link being broken. (Allen, 2011) A lot of college graduates are searching for work today. A lot of college students feel that college is a waste of money.

So many people believe the only way to succeed in life is to begin with graduating with a four-year college degree. They seem to have this illogical thought that with this degree comes job and financial stability. College degrees alone do not bring money, hard work does. In many cases hard work is a college degree, but not for everybody. Only certain professions need college degrees.

There is an ample amount of information that leads people to believe that college is a great choice. In Source F, it is shown that, “Adults who graduated from a four-year college believe that, on average, they are earning $20,000 more a year as a result of having gotten that degree. Adults who did not attend college believe that, on average they are earning $20,000 a year less as a result.” Also, provided in Source F, “...55% say it [college] was very useful in helping them prepare for a job or career.” While these statistics are true, the negatives still outweigh the positives.