Student loan essay

student loan essay

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There is roughly 864 billion in outstanding federal student loan debt. Out of 37 million borrowers who have outstanding student loan balances, about.4 million borrowers, have at least one past due student loan account. Now, if rates were lower many of these borrowers, would not have trouble paying the money back. With this money back in the economy, we could possibly be speeding up the process of getting out of this recession. In conclusion, i believe student loan interest rates should be lowered. Student loans are debts that are owed to the government or institution by attending and graduated students of institutions of higher learning.

Private Student loan - university of Phoenix

How does the government expect the future leaders of society, to be economically successful in life, being buried in debt? While addressing congress President Obama stated, "In America, higher education cannot be a luxury. It's an economic imperative that every family must be able to afford". I completely agree fast with what he said except it would be better if something were actually done. With millions of people in debt, the government should focus making it easier for these debts to be paid off, starting with lowering the rates on student loans. What the government does not seem to understand, is that student debt negatively affects the. Student debt is growing at a steady rate unlike the consumer credit reports. People are less likely to buy, when they are deep into debt, while is bas for the United States because we have a consumer economy. Jobs are getting harder to find, people are unemployed or underemployed, and prices for everyday needs are rising. These are some things that are affecting the repayment of the loans.

Having a college degree is the main source that jobs look for in the work field today whether it is to become a lawyer, doctor, or either some form of office worker. Being able to provide that you have some type of college degree can increase your chances of acquiring a better and high paying job but because of some students do not attend college because of money issues, it lowers their chances of having those same. Going to college may be easier for some more than others. Whether it be financial aid issues, student loan debt fear, or some students cancelling the college dream out very quickly because they think financially it is impossible and causing them to miss out on good opportunities. Student loans, to get a good paying job now in days, you need to have a college degree. According to the Chronicle of Higher Education, of the 20 million Americans that attend college each year, 60 take out student loans annually to help cover cost. Student loans have such high interest rates; it puts these students in even more into debt. Student loans should have much lower interest rates because this is unfair.

student loan essay

Student loan default in the United States - wikipedia

The Student loan debt crisis not only affects the graduates of the university but also the future students as well. The future students who have one day dreamed about going to college are now taking a second look on attending school because of this debt problem. Without receiving a scholarship or financial aid it is virtually impossible for students to attend college without the possible outcome of being drowned in a large amount of student thesis loan debt. Because of the money issue with college, some students do not get to become better educated as well. The skills that you will be able to learn in college are very different from high school teaching. You will learn to think more critically and have reasoning skills that will stay with you for a lifetime. Students will also have a much greater opportunity in the job market as well if they were book able to obtain a college degree.

Even though Without the help of financial aid for students, taking out student loans would be the next step for affording college. At that time, student loans could be a great way to help students by giving them a chance to still be able to attend college without the help of financial aid but there is also a downfall to student loans as well. According to the federal Reserve board of ny, there are approximately thirty seven billion student loan borrowers with large student loan debt amounts. These student loan debts can take years before they are paid and in some cases, they never get fully paid. This situation with student loan debt is what makes the decision to attend college even more difficult. With the debt loan rapidly increasing from year to year, it is not only effecting young adults but the economy as well. With Students having this load of debt to pay, it decreases the ability for them to be able to afford things such as cars and their first homes. Without the purchasing of these items, it causes problems such as unemployment.

Best Student loan Refinancing & Consolidation Companies

student loan essay

Student loan crisis at its ugliest: I graduated and found

We will write a custom essay sample on Student loan Debt essays specifically for you for only.38.9/page, order now, we will write a custom essay sample on Student loan Debt specifically for you. For only.38.9/page, hire Writer, we will write a custom essay sample on Student loan Debt specifically for you. For only.38.9/page, hire Writer, while some research suggests that the overall percentage of students is small who report substantial problems with repaying their loans, those with lower current and lifetime earnings report the greatest difficulty and are perhaps overburdened. Given this, it is critical to find ways of reducing students reliance on loans, particularly for those from households with fewer financial resources. Where some students take a turn for the worst railway is not paying attention to the interest rate numbers which adds up over the years causing the owed amount to double and even triple in some cases.

As of the beginning of this year, it has been reported that Sallie mae will split in the fall for money reasons. Sallie mae will split into two companies with one keeping the name sallie mae and the other called navient who will service most of Sallie maes existing student loan portfolio. With navient taking over, payments will now go to them instead of Sallie mae. Financial aid is given to students based on their household income. Students with a lower based income will be more likely to receive a full amount than a two parent wealthy home.

Colleges that have large enrollment are financially capable in expanding their curriculums and offering its students the latest equipment. With nothing but the best, students will be prepared for the future that lies ahead of them. Going to college has been taught to be the next step in education after graduating high school but is it truly that easy? The main factor to attending college now is the money issue. In todays generation receiving a scholarship would be the best way to get through college without the burden of student loan debt piling up as you get further into college. Even though financial aid is available for students seeking college education, some of those students will not all qualify for financial aid.


With them not being able to qualify, it leaves taking out student loans to afford those college expenses. By them having no other option but to take out student loans, it is the start to a long road of student loan debt issues. Majority of student loans today are through the popular loan company sallie mae. In 1972, sallie mae was founded as a private company for loans but since late 2004, it generally became a publicly traded company. The biggest challenge with student loans is finding one that offers the lowest interest rate. Rising interest rates may make obtaining and paying off student loans more burdensome, particularly for students from financially disadvantaged households. Students from lower income households rely on federal loans more heavily than their higher income counterparts, meaning that students from households with fewer financial resources may be disproportionately affected by increases in interest rates. For instance, over half of all lower income students pay for college with federal loans (ranging from 48 to 56 whereas less than half of all higher income students pay with federal loans (ranging from 27 to 49).

More Employers Offer Student loan Repayment Benefits

In toadays work field businesses usually search for well-educated individuals to add to their successful team. As student enrollment drops there are less educated students that graduate. This makes it difficult for businesses to find individuals with the right knowledge, training, and skills for open positions. When a business is understaffed, they have a difficult time in keeping up with the speed of technology. For example, a company that deals with business marketing would be more than happy to hire an individual who took classes in advertising, economics, banking, and statistics. If an applicant is not educated in this type of field but has little to some experience, businesses are likely to turn them away and wait for someone who is qualified for the position. Individuals who are not properly educated do have other options in todays work field, but a majority of those jobs will be minimum wage or close to minimum wage. In conclusion, the federal government should reconsider cutting-back student loans. These loans provide many individuals whom are financially challenged an opportunity to change their lives for the better.

student loan essay

This money is divided among the schools fixed costs that include teacher salaries, programs, new equipment, and campus beautification. With a decrease in students several sacrifices will have to be made. For example, there might not be enough money to pay all the teachers that are currently staffed. As a result many of them will be laid off. There will also be a cutback grey in the number of classes, which are being offered due to the limited staff. Equipment such as microscopes, computers, and lab supplies will not be updated and replaced as quickly as well. College sports programs maybe one of the first to be cancelled because given such tight budget educators will want to put their funds toward academics. Finally, the economy as a whole will suffer.

in the past there has been a higher success rate in wealthy students when compared to the less fortunate students. For example, a student wants to attend college but his parents monthly income is barely enough to cover the rent, bills, and food. He can work a part-time job on the side but between the tuition and the cost of books, there still is not enough money. In a case such as this, young adults will be forced to drop out of school and into the work field. Student loans help low-income families to achieve their highest potential. Another effect is that many colleges will become financially burdened. The amount of money a school receives depends on the number of students enrolled.

Student loans Essay, research Paper, the salon federal government has the power to cutback the funding of student loans. There are several different ways the government can go about doing this. One way is to keep the amount of each loan the same and reduce the number of loans granted. Another option the government has is to reduce the amount of each loan and issue the same number as in the past. Either way, students that belong to a low-income family will be greatly affected. Cutbacks in the funding of student loans have several effects. One effect is less fortunate individuals will miss the opportunity of attending college.

Ascent Student loans: your student loan should expand your

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Student loan essay
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  2. One way is to keep the amount of each loan the same and reduce the number of loans granted.

  3. Student loans is quite a rare and popular topic for writing an essay, but it certainly is in our database. Custom Student loans essay paper. Student loans are debts that are owed to the government or institution by attending and graduated students of institutions of higher learning. Either way, students that belong to a low-income family will be greatly affected. Cutbacks in the funding of student loans have several effects.

  4. Student loan Crisis Research Paper. Essay on Student loan Debt Should be forgiven. Free essay : Student loan Debt It is a norm and expectation in society today for students to pursue higher education after graduating from high school. Topics: Debt, loan, bond Pages: 2 (388 words) Published: may 5, 2013. This 6,066 word student loans essay example includes a title, topic, introduction, thesis statement, body, and conclusion.

  5. Will student loans help student to reach their goals? Essay 1: Are Student loans too costly? The first lesson of economics is scarcity. There is never enough of nothing to fully satisfy all who does want. There are several ways a student can make to reduce the amount of loans borrowed - student loans Essay introduction.

  6. Student loan Debt Essay. This is just a sample. To get a unique essay hire Writer. We will write a custom essay sample. What happens when to the students when they finish they finish college?

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