Student Loan Debts

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Paying off a debt just to have an education is not something that should not be considered normal. Public education needs to be free after high school because not everyone can’t afford to go to college but it’s recommended to have some form of degree to even have a decent paying job. Financially it hurts the pockets of the students so that causes them to work more jobs throughout their life just to pay it off.

Student debts has increased over the years. More than 44 million borrowers collectively owe $1.5 trillion in student loan debt. It is starting to bite away from the economy. Student loans are now the second-largest category of household debt in America. Out of the student loan borrowers, 41 percent have delayed homeownership. Meanwhile, 27 percent have not even managed to make it out of their parent’s home yet. Many people have put off going to school just so they will not go into debt. In addition, students end up dropping out because the money becomes too much and starts to take away from their education. More student debt also means fewer new businesses, Increases in tax revenues & lower unemployment.

Education is important in America. Without a college education some people will assume your ignorant to some topics because you didn’t further your studies after high school. Lower class Americans cannot afford to go to college without some type of funding without getting a scholarship for academics or sports. If America is supposed to be portrayed as the best then the cost just college in general needs to be lowered or free. Until then this country does not need to be seen as so great.

Being a student having to work multiple jobs to try to pay off a debt that most likely won’t be paid off could become too much for one person to handle. If a student is constantly working, they won’t have time for class, which would cause them to start failing and just give up. If everything is based on an image then everything that is portrayed would be false.

Out of the recent graduates, one in five says that their student loans are holding them back from starting a business. Student debt management programs can also be seen as an investment in a college-educated workforce. Workers who are college-educated are more productive, earn more—, and pay more taxes.

The more jobs that are added, the stronger a country’s businesses are. Unemployment rates for workers with a bachelor’s degree are 41 percent lower than those with an associate’s degree or some college degree. More jobs also mean more people are earning incomes, keeping up with living expenses, and putting money back into their debts.

Student debts should be taken more seriously. This is something that should be taught before you become an adult and start attending a college or university. Less debt can cause less problems and can help people out financially. The reason it would help financially is because the money people are putting out they could invest into something else.

Work Cited Page

  1. https://www.nerdwallet.com/blog/loans/student-loans/student-loan-debt/
  2. https:/ https://www.forbes.com/sites/zackfriedman/2018/06/13/student-loan-debt-statistics-2018//studentloanhero.com/student-loan-debt-statistics/

Cite this paper

Student Loan Debts. (2021, Oct 30). Retrieved from https://samploon.com/student-loan-debts/

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