The essay "Student Loan Crisis" describes that a good number of college graduates have taken loans to enable them pay for their education. Reducing the burden of student loan is an effective way to enhance the economy and so the government should develop and implement policies that make is easier for students to handle the debt situation. …
Student loans have become the main source of indebtedness in America. Notably, the U.S government is not doing much in ensuring that students get their degree from college without struggling so much. Personally, I think it is the government’s responsibility to ensure that every American child has an easy access to quality education and this should extends to higher learning. The government should forgive students loans because Americans have a right to achieve their dreams. This paper presents an argument that the U.S government should do more to relieve the student loan burden.
Arguably, the U.S government needs to cover tuition payments for students or make higher education free. It should set rules and establish unbreakable laws that enable individuals to obtain the college education. This is necessary because offering free education for students without appropriate conditions will facilitate the emergence of careless generation. That is, if college education is free, there should be fully implemented laws that make it difficult to get college education. For instance, when applying for any major in the University of Kuwait, GPA must be more than 2.50. More so, when applying for government scholarship, GPA above 3.00 is needed. Apart from these strict rules, there is a warning for students in the scholarship program if they get GPA below 2.00, and after getting many warnings during college, the student is suspended and must pay the government all the college costs. Indeed, such rules motivate the students to study harder and try their best to graduate successfully so as to avoid the consequences of these rules. Therefore, the U.S government should establish rules that ensure that students take their studies serious.
Moreover, the government should give students free interest loans to enable them overcome struggles they face during loan repayment. That is, it should help American students to get loans to pay their tuition fees with no benefits. This will make it easier for college graduates to pay back their loan and escape the loan burden. After college, it is very hard to get a good paying job immediately they finish college as most of them are graduating from college into the worst jobs and they have records of student debt, and this makes it hard for them to pay their debts in a shorter time (Jackson). ...
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“Student Loan Crisis Essay Example | Topics and Well Written Essays - 1000 Words - 11”, n.d. https://studentshare.net/education/724863-essay-2.
As disclosed, the cost of college education has significantly increased for the comparative periods 1999 to 2000, as compared to a decade hence forward by as much as an average of 31% for public and private college institutions. To enable the students to pursue higher education, most resort to financial aid or student loans.
They observe that “crippling debt” does not affect students from for-profit colleges and graduate schools only, but many other kinds of college students too.They used the study of Federal Reserve Bank of New York to state that for “all borrowers, the average debt in 2011 was $23,300, with 10 percent owing more than $54,000 and 3 percent more than $100,000, the reports.”
Thanks to these student loans which provides us with all the required financial assistance and aid which helps in achieving a successful future ahead. With increasing inflation, the cost of education is also proliferating and universities, according to a study done during 1999 to 2000 both public and private are asking for ample education fee (Millet 427).
2. Main Body Role of government in higher education – the government continues to play the most important role in education, as compared to banks, since most college students have benefited from the government student loans more than bank loans. Comparison of conditions and requirements for qualification of federal student loans and bank loans - Federal loans are easily accessible than bank loans.
The students, those who are pursuing higher education in colleges and universities outside their home town in particular have to bear the costs of college fees, accommodation, living expenses and other courseware related costs. (Deshmukh, 2010) Due to less employment opportunities and lack of means for income generation students are on a very tight budget which is borne either by their parents or by banks as loans.
Among the negative consequences of having too much debt is, first of all, a potential of getting a bad credit history and, consequently, inability to receive other debts in the future. A too large debt amount may make it for
The federal loans can be subsidized or unsubsidized and include Stafford loans, Perkins loans, and PLUS loans. Obtaining a bank student loan is sometimes a way of supplementing what the federal government
The financing of higher education in America has become dependent on debts. Data collected from America student debt indicate that the borrowing rate by the federal students is ever growing. The federal government lends more every year; this
The Fed figures as released during the fourth quarter of the year 2012 indicate that the amount in debts was at $966 billion. However, the most recent reports indicate that this figure has grown to about $1.2 trillion, and even for the
it, issued in the second quarter of 2010, outstanding students debts has exceeded that depicted by auto loans and credit cards with the default rates reaching the highest level in the past few years (Brown et.al). This report further indicates increasing negligence rates which
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