College Education Degrees Outweigh Debt - 873 Words

The average college student acquires over $29,000 in educational debt. The debt of American college students has been steadily on the rise. Tuition has been increasing while the average American families’ income has been decreasing. Some students qualify for federal grants; however, the majority of money used to pay for college is debt that has been borrowed from private lenders. Students who qualify for federal grants must still depend on private lenders to fund their education. â€Å"Seven in ten seniors graduated with student loan debt, and a fifth of that debt was owed to private lenders, which often charge higher interest rates.† (CNNMoney) Most students enroll in college to better their lives, provide a more stable environment for their†¦show more content†¦Repayment plans can also be differed while still attending school. According to an article by, Scott Cohn at CNBC, â€Å"There’s a lot of similarities between what’s happening with stude nt loans and the housing crisis. But there is also a key difference; unlike a mortgage, in which a borrower can refinance or -at worst-face foreclosure and bankruptcy, student loans do not go away.† Restructuring or refinancing student loans can prove to be difficult. However, most lenders are willing to work with students and graduates who are in contact with them and attempting to pay down their debts. Many college students are lower income learners, and the increased demand for borrowed funds is being stretched to the breaking point. The current job market is not supplementing the income needed to repay the loans at the rate in which they are being borrowed. The job market for current graduates is the worst in a generation, and with the increase in borrowed money, some fear that the whole educational system is spiraling downward. The creator of this visual argument used a playful cartoon to depict a very serious and controversial subject. Student loans affect a huge majorit y of college graduates. By using the medium of a cartoon, the creator engages his audience by making the argument easily relatable. An argument, when clearly aimed at a particular audience and adhered with humor, has the desired effect of the viewers. By taking a serious topic and adding humor, it makes theShow MoreRelatedAt This Point In America, There Is An Increasingly Intense1194 Words   |  5 Pagesincreasingly intense debate about if education should be a right or a privilege. This decision can be discussed between Americans but for significant impact, the federal and state governments must act. Since Americans value the chance at an education so much, the cost for that said education should not be so expensive that it outweighs the rewards. Students in college now are accruing tens of thousands of dollars in debt. Some may not even earn their degrees. But because opportunity is importantRead MoreThe Issue Of Financial Success982 Words   |  4 Pagesgenerations simply fou nd that success by attending college and obtaining Bachelor’s Degrees or higher (â€Å"Generations†). The action of obtaining a degree was rewarded by employers with a high rate of starting pay in the field they desired, which led to a comfortable financial situation, while also the pursuit of their dream job. Millennials (those born from 1977-1994) are facing a different situation. Financial success in America is often defined as living debt free, with enough money to cover monthly expensesRead MoreWhy so Expensive?922 Words   |  4 PagesWhy So Expensive? College is said to be some of the best years of your life. The parties, the freedom, and the new experience help you find new friends, hopefully a career and yourself, but rising college cost are having young adults stressing instead of enjoying the college experience. 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College might not be for everyone, but those who complete their education reap the benefits. A four-year college degree results in higher wages, lower chances of unemployment, improved credibilityRead MoreCollege Tuition Or Student Loans1371 Words   |  6 Pagesthings needed like higher education. Graduating from college is essential to finding a successful job, since more jobs are making college degree a requirement, more people are going to college. The problem is the cost of going to college outweighs the earning from the career you obtain. Very little people are able to pay for college out of pocket. In 2014, 42% of undergraduates paid for college out of pocket (Sallie Mae). The result of this is that students seeking higher education are forced to take outRead MoreThe Effects Of Rising Tuition On Students Choice Of Future Career Field1308 Words   |  6 Pageschoice of future career fiel d Christin C Hyslop Ferrum College Fall 2014 The Effects of Rising Tuition Costs on Ferrum Students’ choice of future career field Introduction Do rising tuition costs affect Ferrum College students’ choice of major? Descriptive research will be done to determine if there is a relationship between rising tuition costs and Ferrum College students’ choice in major. A sample set of students attending Ferrum College will be participating in the study. Qualitative researchRead MoreProfit Education Is A Higher Education University982 Words   |  4 PagesFor profit education is a higher education university that is run and operated by private institutions who receives a profit. In the beginning of 2015, Corinthian College, a large for profit incorporation, was closed for lawsuits of fraudulent statistics of placement rates to jobs after graduating. Placement rates are the jobs that students have received through their degrees, and Corinthian Colleges would advertise the amount of graduates that have been hired in their field. The schools publishedRead MoreIs College Worth It?1425 Words   |  6 PagesImportance of a College Degree There is no simple answer to the question â€Å"Is College worth it?† Where some degrees pay for themselves while others simply do not. Many students are contemplating whether or not to take on huge student loans, because they are constantly told that college is the gateway to the middle class and the way to a secure and steady income. So the questions still on the mind is â€Å"Do the benefits of college still outweigh the costs?† I believe that although college brings heavy