Student Loans And Student Debt - 1128 Words

As Young teenagers become adults and start College, one issue that doesn’t seem as a big deal at the moment for many students are student loans. Young college students who don’t have the money, don’t have enough scholarship money, or family who doesn’t have the money to pay, will apply for student loans each year. They amount the student receives can vary depending on the college and what the student has achieved academically. Though interest rates are low with subsidized being 4.29% and unsubsidized being 5.84% (Federal Student Aid Interest rates and Fees), student loans still have a huge effect on college students once they graduate. One college graduate’s story helps explain the struggles for most students: â€Å"[I] am a PhD student working a full time job that pays less than $21,000 a year. By the time I finish this degree I will have well over 80,000 in student loans, which have already began to gather interest and make weight on my credit†¦Ã¢â‚¬ (Real Life Student Debt Stories †¢ Student Debt Crisis Sarah March 26, 2016 Illinois). With many students with stories too similar to Sarah’s we need to focus on how we, college students and citizens of America, can help each other. Many people feel that we need to help college students with loans others believe that that need to handle their own loans. A hard choice to choose, either paying for college or getting loans and paying them when you leave college or drop below half-tie enrollment(Federal Student Aid UnderstandingShow MoreRelatedStudent Loans And Student Loan Debt898 Words   |  4 Pagestelevision. Unfortunately, at a staggering $1,200 per month in student loan repayment debt partly because she was misinformed of the terms of her student loan (55). Debt is foreseeable but student loan debt can leave borrowers distraught at the mere thought of the unrealistic terms (Hillstrom 55). All students entering college need to be aware of student loans and how they impact the future; either negatively or positively. For some students, a college degree is the key to success but for others theRead MoreStudent Loan Debt1074 Words   |  5 Pagesof Financial Literacy Available in Regard to Student Loan Debt This personal finance paper will concentrate on the insufficient amount of guidance that is available concerning student loans. The purpose of this paper is to illustrate how prospective and current college students are ill prepared in their education and understanding of student loans. Three major issues that will be outlined in this paper include the large majority of college students are no longer able to pay for college out of pocketRead MoreThe Debt Of Student Loan Debt1168 Words   |  5 Pagesconsumer debt, which help contribute to the large sums of debt countless Americans find themselves faced with. Directly effecting many college students is student loan debt. Student loan debt is now the second largest form of consumer debt behind housing† declares the Federal Reserve Bank of New York (Grisales). This is due to the fact that student loan debt grew 7.1% in 2014 to $1.2 trillion (Grisales). If this statistic alone is not worrisome this next one is sure to be. The amou nt of debt in theRead MoreStudent Loan Debt778 Words   |  4 PagesPersuasive Speech Rough Draft Outline Title: Student loan Debt Crisis Speaker: Markevia Lee Specific Purpose: To persuade the audience of their choice of taking out student loans. Thesis Statement: College is not something to put off until after you have graduated, students need to find ways to pay for college before they graduate. I. Introduction: Attention-getter: The increasing trend of college students graduating with significant more student loan debt than job prospects is both alarming andRead MoreStudent Loan Debt2542 Words   |  11 Pagesï » ¿Student Loan Case 1) Summarize the student loan industry. Answer with respect to both public and private loans and be clear as to which you are referring to. a) What led to the inception of the student loan market? The inception of the student loan market started like any other loan market, there were a large amount of borrowers who needed money now to invest in college to make more later that were matched with lenders who had excess funds and wanted return on the funds. The National DefenseRead MoreStudent Loan Debt On College Students887 Words   |  4 PagesStudent Loan Debt on College Students Student loans are becoming more and more of a problem for college students all across the United States. As college tuition has significantly increased over the past years, it has become extremely common for most college students to finance their education through student loans. Tuition has become so expensive that it is almost unheard of for a student to pay for their tuition out of pocket or by working for their education part time. As the result ofRead MoreStudent Loan Debt And Education1082 Words   |  5 Pagesoday, society stresses the importance of postsecondary education to students due to the countless ways that an associates, bachelors, masters, or doctorate can enhance an individual future. For an individual to reach financial security in the United States’ economy it is basically mandatory that they have received a college degree. Postsecondary education will provide skills and knowledge that will prepare individuals to be successful within their career as th ey compete for leading positions. OverallRead MoreStudent Loan Debt: Is it worth it?1364 Words   |  6 PagesStudent Loan Debt: Is it worth it?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Many high school students are beginning their senior year and have already started to stress about how they will pay for their higher education. Although many students will have scholarships and financial aid, a lot more will struggle to pay for schooling and will have to take out multiple student loans. Many people wonder if higher education is worth the debt the country and the students are in and it is, however, there are alternatives.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Read MoreBenefits Of A Student Loan Debt991 Words   |  4 PagesWhen a student finally graduates from college there is this excitement that comes to you. You finally graduated and now can apply the things you have learned in the job or career you plan on. Unfortunately, it’s not that simple, many graduating student finds themselves in hug student loan debt. The numbers are staggering: more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, an average balance of $29,000. Men and women laboring under student debt are postponing marriageRead MoreThe Student Loan Debt Total1736 Words   |  7 PagesThe student loan debt total was about nine hundred and two million dollars to one trillion dollars in the United States in 2012; the federal student loan debt made up about eight hundred and sixty-four billion dollars of the total debt (Driscoll and Clapp). Many people in the United States that cannot afford college tuition and additional fees take student loans and/or federal grants. Student loans are different from federal grants in that the loans have to be paid back with interest, while federal