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Argumentative Essay On Student Loans

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The Federal Government made $41 billion in student loans in 2013. The government made more profit than Google did last year. This amount of money was only from student loans. Consequently, students have to decide between their loans or their diploma. Low-income students have trouble paying back student loans because colleges can be expensive and students are attacked by for-profit colleges and students are pressured about their type of education. Low-income students are attacked by for-profit colleges and have been forced to carry the burdens of debt while dealing with low-moderate incomes and the pressure of not pursuing a higher education.
For-profit colleges are established or operated with the intention of making a profit. “...nearly one-fourth of students from for-profit colleges default on their loans within three years of leaving school, most without a degree” (Cauchon). For-profit colleges are unfair in their approach of handling money. These schools victimize students insensitive to background, race, or income levels and they do not distinguish their programs from public and independent schools. To summarize, for-profit colleges are becoming more and more demanding of students and are the main cause of student loan issues. Arnold Mitchem is the …show more content…
An example would be the ‘Pay As You Earn Student Loan Repayment Plan’, also known as the ‘Obama Student Loan Plan.’ This plan is based on monthly income for the average student. The Department of Education has estimated that 1.6 million direct loan defaulters will be able to lower their payments. The monthly payments depend on the range of income and family size. “...the federal government will pay the unpaid accrued interest on a subsidized Stafford Loan for up to three years from the time Pay As You Earn is implemented” (Barr). As a result, students with low-incomes will be no longer faced with the partial financial hardship if the unpaid interest will

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