The Problem Of Rising Student Loan Debt - 1495 Words

As a mother of four, a large number of the social problems described in the text can and does directly relate to myself, as well as, my family especially regarding the matter of education. However, the problem directly affecting my family and I is the emerging social problem of rising student loan debt. Student loan debt is a problem that has begun to seep into the very mainstream of society as more and more individuals attend college, especially those with great financial needs. Personally, I am lucky to say that I do not need to borrow money to attend IRSC which has been a major blessing that has allowed me to better my education. Unfortunately, the same cannot be said about my husband, who graduated from Florida State University with student loan debts around $30,000 dollars. $30,000 dollars is a relatively average amount, according the Institute for College Access and Success(TICAS) 70% of college students graduate with student loan debt, with an average of $28,950. While this am ount is overall average in our society, combined with the costs of raising four children, as well as, having only one working family member who makes a relatively low salary as a school teacher, it puts significant financial strain on my family. Rising student loan debt just doesn’t affect my family and I, it affects millions of Americans, especially those who are poor and cannot afford college. Rising student loan debt is a societal problem that is hampering millions of young AmericansShow MoreRelatedCauses Of Student Debt902 Words   |  4 PagesThe term student debt has become a bit controversial in todays world; it strikes fear into the hearts of students and parents alike. This is because student debt is increasing at an incredible rate and everyone agrees that it is a major problem. Many solutions have been proposed to fix this problem, yet nothing has been done. This problem is projected to worsen in the near future. The causes of this are relatively simple and clear- cut. The increase in student debt is caused by a combination of factorsRead MoreCollege Tuition1075 Words   |  5 Pagesown work. If I have used outside sources, I have acknowledged them through correct documentation.† Student Loans Today college tuition prices are rising. Paying for college can often be a stressful responsibility. A college education is very important for many students, but when stressing on how to pay for college gets in the way, it becomes more of a burden. Kim Clark effectively states the rising prices of college tuition in her article, â€Å"The Surprising Causes of Those College Tuition Hikes.†Read MoreThe Rising Cost of Education1737 Words   |  7 PagesStates has skyrocketed over the past decade or so, leading to a number of social problems including deep debts among graduates. As a result, the value of higher education is being increasingly called into question. Earnings and job outlooks for graduates has grown grimmer over the past decade or two, while those same graduates are more in debt than their parents would have been for the same educational program. Greater debt plus fewer options for paying it off has contributed to the crippling economyRead MoreHow The Rising Studen t Loan Debt1318 Words   |  6 PagesHow to Control The Rising Student Loan Debt The American Dream teaches us that if we work hard, earn a good living, and do our best that we will be able to live comfortably and happily with the fruits of our labors. In today’s society to achieve the American dream, one must first obtain a higher education. In order to do that though many students are taking out student loans and putting themselves further in debt. Having an education has now become highly sought after, yet increasingly harderRead More University Tuition Costs are Too High Essay1239 Words   |  5 Pageshigher education is quickly rising. Over half of college freshmen show some concern with how to pay for college. This is the highest this number has been since 1971 (Marill and O’Leary 64-66, 93). The amount of college graduate debt has been rapidly increasing also. With limited jobs available because of the high unemployment rate, college graduates find themselves staying in debt even longer. Although grants and financial aid are availab le to students, students still struggle to pay for theirRead MoreCollege Debt Is Increasing Number Of Students1390 Words   |  6 Pagesthe last several decades, rising tuition rates and changes in federal and state policies, an increasing number of students are turning to college student loans. As a result of these changes in prices and policies, the percentage of undergraduates borrowing has increased from 37.8% to 46.2% for public 4-year institutions and from 48.5% to 58.9% for private institutions. According to one estimate, student loan debt has reached $1 trillion dollars, surpassing credit card debt (Reynolds and Brandon). MostRead MoreHigh School Vs. The Federal Government1327 Words   |  6 Pageslate. In order to make this goal happen, many families sought the help of financial aid as a lifeline to avoid debt themselves due to the increasing tuition rates nowadays. The federal government has made it easier than ever to borrow money for higher education. As a matter of fa ct, there is currently over $1.2 trillion in total student loan debt, eclipsing the amount of credit card debt. The reason for many families to borrow money is because tuition rates and fees for college have been raised dramaticallyRead MoreThe Problem Of Student Debt Crisis1592 Words   |  7 Pageswould create a problem on how we as people are going to pay for our higher education. Today college has become almost a necessity to have a satisfactory life, and with these rising prices some individuals believe student loans are the only option. There are many reasons as to why the prices have risen, but the one undeniable fact is that this has created a problem within our country. Which, is known as the student debt crisis, and it has been on the rise the past couple years. This problem is affectingRead MoreThe Problem Of Student Debt901 Words   |  4 PagesI. Definition of the problem: Student debt has become a major problem for our college graduates to not only to start their car eer but also starting their lives living independently. a. Symptoms. How does the problem show itself, or what are the difficulty? With the high tuition, books and supplies, graduates are paying more that they can afford for their education. The average Virginia college graduate leaves school more than $29,000 in debt (Marcus). Unfortunately, students feel like they haveRead MoreStudent Loan Debt Is Not Just Harming Students1393 Words   |  6 PagesEach semester the student loan debt increases, and the scary part is that in some cases students will never be able to pay off their debt. Previously, young people would attend college to increase their chances of success in the future; however, now a days it seem like it is more of a financial burden than an investment for the future.{If something is not done to manage the increasing student loan debt, the economy as a whole will also fall into a financial crisis}. Something needs to be done about