...Argument Analyzes In the article Student Loans Pack Surprising Benefits written Katy Hopkins, Hopkins says college debt may not be necessarily a bad thing if students borrow an amount that they can afford to finish a four-year college degree. Hopkins thinks students should take advantage of student loans because there are many benefits that students should experience while they’re still in school. In Hopkins’ article, she explains the four benefits of taking out loans to get a higher education and uses rhetoric appeals to support her points. Even though Hopkins successfully shows the good ethos and pathos to the readers, but the article still lacks logical appeal. The thesis of Hopkins article Student Loans Pack Surprising Benefits is...
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...It is unfortunate that many students and their parents will pinch pennies and borrow heavily to pay for a good college education. For many families obtaining a college degree is very important to them no matter how much debt they are put in. Applying for federal student loans is becoming the norm to cover the cost of obtaining a college education. Students have to borrow more and more money to cover the cost of higher college tuition rates. Currently, the interest rate for a Federal Stafford Subsidized and Unsubsidized student loans is at 3.4 percent, however, as of July 1, 2013, the interest rates on Federal Stafford student loans will significantly increase from 3.4 percent to 6.8 percent making it even more expensive for students to pay for college this fall. President Obama is working with Congress to keep the student loan interest rates down to 3.4 percent to keep it affordable for students (Lucas, 2012). So what is the problem? If Congress doubles the federal student loans interest rates, students will not be able to afford to pay for college. And college is sometimes not the only thing that students have to deal with. Student loans can put students with long-term burdens and stresses that in the future may affect their choice in jobs. Many students have to take care of other monthly bills like electricity, water, phone, rent, and possibly a mortgage. Nearly 10% of federal student loan borrowers failed to make a payment on their loans in 2010. Much of the increase...
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...today’s society. Many students in the United States tend to focus on their studies and work hard to receive good grades. Most importantly, the financing of most student’s post-secondary education tuition has become difficult in today’s economy due to the costs. According to American Progress, “a recent study by Georgetown University’s Center on education and workforce found that at current levels of production, the U.S. economy will have a shortfall of five million college-educated workers by 2020.” (Bergeron & Martin). This shows that the cost expense of college causes five million college educated workers to decrease. Five million people who do not have a post-secondary degree due...
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...bankrupt paying for it. Since the institutions are allowed to set rate on tuition it is only becoming more difficult for students pay. As a result, students have to seek alternative ways to cover the hefty costs. It seems as tuition went from affordable to sky high overnight and because of such an exponential increase it has forced a negative effect on students by: having to join the military, taking out student loans, developing health issues, and even selling drugs....
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...Dr. Kathy Langston English 102 17 February 2014 Student Loan Debt: A Threat to the American Economy And the College Education. As the ever increasing ceiling of student loan debt rises, it bears more of an impact on the generation known as the “Millennials” and the rest of the economy. Many individuals who have decided to embark on earning a college education, whether it is a bachelor’s degree or higher, have had to contemplate on how they would finance such an endeavor. An increasing number of institutions, including private and federally supported bodies, now offer student loans to help many students obtain a college education. Some students find themselves in what can be considered a downward spiral of increasing debt, as these loans continue to mature over time. Many times payments spread over a number of years, equal what some have spent on what use to be the American dream, which was purchasing a home and having the satisfaction of becoming a proud property owner. At the alarming and increasing rate that students spend on education nowadays, it will eventually be safe to say that many individuals will have some very difficult decisions to make concerning what purchases take precedence over the other. Evidence has shown that earning a post-secondary education will be increasingly harder for students to accomplish overtime. There are many obstacles that have developed in modern times for today’s college students. Obstacles include but are not limited to the ability...
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...HECS-HELP Commonwealth supported places information for 2016 IMPORTANT The Australian Government has proposed changes to the higher education system. It is important that current and future students understand how these changes may affect them. Visit www.studyassist.gov.au for up-to-date information on these proposed changes. www.studyassist.gov.au YOU MUST READ THIS BOOKLET BEFORE SIGNING THE COMMONWEALTH ASSISTANCE FORM BELOW. WHEN YOU SIGN YOUR FORM, YOU DECLARE THAT YOU HAVE READ THIS BOOKLET AND THAT YOU ARE AWARE OF YOUR OBLIGATIONS AS A COMMONWEALTH SUPPORTED STUDENT AND UNDER HECS-HELP. Request for Commonwealth support and HECS-HELP form If you do not submit a form or finalise your payment by the census date you risk cancellation of your enrolment as a Commonwealth supported student (your institution may have set an earlier administrative date for this deadline—check with your institution). USING THIS BOOKLET • As you read through, you will notice that certain terms are highlighted in pink. These terms are defined in the glossary. • If you have a specific question after reading this booklet, the contacts list at the end of this booklet will help you. • More information is available at www.studyassist.gov.au. IMPORTANT NOTE: The Department of Education and Training has endeavoured to ensure that the information in this publication is consistent with the Higher Education Support Act 2003 (the Act) and guidelines made...
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...many reasons why one to avoid taking on student loan debt, first of all we all know that any type of loan is required to repay to the lender later on. However, student loan debt can be very serious if one did not pay back to the lender. Having too much student loan debt can destroy person life financially and make things worse, and I also personally heard some people stories about their student loan debt. Some of them regretted about loan they took while they were in college. After 5 to 7 years repaying their student loan they haven’t pay off their loan yet. And there are several things happened to some of them such as: been denied from getting car loan or house loans. And because of these types of obstacles some people who graduated from college are having hard time with relationships, have kids...
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...Benefits of a College Degree “Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” Thomas Edison said this once, he did not just say this, but he lived through it. This quote elucidates people to get further in life, especially when the door is closed from opportunities. A way that we can open those doors and stop dreaming, is college. College opens doors to promote opportunities for many. The opportunities of going to college have the benefit of building a closer family bond and financial stability. However, a high school diploma won’t give you numerous opportunities congeneric to going to college. College can change our everyday lives physically, mentally and emotionally. College has many benefits for many people globally. In fact, an powerpoint called “5 Ways Ed Pays”, says going to college builds a close family relationship. In that powerpoint a...
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...How many times have you heard that debt is something everyone has and that it’s okay for you to have it too? Well, this is certainly not the case. Just because everyone else has student loan debt, doesn’t mean that you are required to make high payments every month for the next decade. Many students believe that student loans are necessary in order to attend college, but they really aren’t. Student loans can cause you a lot of trouble in the future, such as massive amounts of debt, and the fact that student loans are debt, and debt is not good. Like any form of debt, student loan debt can pile up high very quickly and can cause many problems in your future. There are so many stories out there about people who have not been able to afford paying both their grocery/utility bills and their student loan payments....
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...Introduction to Student Loan Debt, with Information on Important Related Subjects Contact Author Start Your Own SelectedWorks Notify Me of New Work Available at: http://works.bepress.com/richard_serlin/15 Introduction to Student Loan Debt With Information on Important Related Subjects By Richard Serlin Student loan debt has become an extremely important issue in recent years. There are several key reasons for this. First, the amount of student loan debt taken on has skyrocketed to unprecedented levels. At public universities the percentage of students graduating with over $40,000 in student loan debt increased 18 fold between 1993 and 2004 – even using constant, inflation adjusted, dollars. In 1993 only 0.3% of all graduating seniors had student debt of greater than $40,000 (in 2004 dollars). By 2004 5.4% did. One-fourth of all public university graduating seniors in 2004 had student loan debt greater than $22,821. Half had student loan debt greater than $15,471. Median student loan debt increased by 108% between 1993 and 2004, and even adjusting for inflation it increased by 58%. Those obtaining graduate degrees can finish with over $100,000 in student loans. This debt is especially serious given that it is virtually impossible to discharge in bankruptcy. It would take a tragedy akin to being full body paralyzed in an accident to get it discharged under the current rules. On top of this, people must often cope with these unprecedented student debt...
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...2014 Student Loans Rising An Overview of Causes, Consequences, and Policy Options William Gale, Director, Retirement Security Project, The Brookings Institution, and Co-Director, Urban-Brookings Tax Policy Center Benjamin Harris, Deputy Director, Retirement Security, The Brookings Institution, and Fellow, Urban-Brookings Tax Policy Center Bryant Renaud, Research Assistant, Economic Studies, The Brookings Institution Katherine Rodihan, Claremont McKenna College The authors thank Elizabeth Akers, Matthew Chingos, Donald Marron, and Russ Whitehurst for helpful comments. The authors also acknowledge generous research support from the Ford Foundation. Introduction As of 2013, outstanding student loan balances in the US exceeded $1.2 trillion, more than any other type of household debt with the exception of mortgages.1 Following several years of rapid growth in outstanding loan volumes, student debt burdens have attracted increased attention in recent years. This policy brief reviews trends, issues, and policy options related to student loans. Federal student loans offer several important benefits. They help students attend institutions of higher education and help families cover or defer the costs of attendance. However, like other loans, student loans need to be repaid, which can strain borrowers’ income and affect other economic choices. From the outset, we note that isolating the impacts of student loan debt is a difficult exercise. Student loan debt represents debt undertaken...
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...Title | Exploring Strategies for Avoiding and Managing Debt | Signpost A, Part 1: Learning Check | When does it make sense to use a credit card? | You can use credit any time as long as you plan to pay off the card at the end of the month. | Don't use a credit card unless you need it to gain a benefit or because the transaction requires it. | Just be careful not to over-use your credit card and you'll be fine. | Really, just never use a credit card. They're dangerous. | | How many credit cards should I have? | Do not get a credit card under any circumstances! | Get as many as you need in order to gain all of the benefits possible. | Make sure you have a few cards with different interest rates and options. | Limit yourself to a small number of credit cards. | | I want to buy something but don't have the cash on hand. Is it ok for me to put it on a credit card? | Just don't use credit cards at all! | No, never. You should only buy things on credit that you can pay for with cash. | Sure, just don't go crazy. That's what credit cards are for, after all. | You can do this only if you have a specific plan in place to pay off the debt. | | Signpost A, Part 2: Learning Check | I heard that there are actually several credit agencies. Is that right? | No, there is only one. | Yes, there are three. | Yes, there are five. | Yes, there are seven. | | What does the score range from? | 1...
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...The Progressive Path: A New Approach for the Modern Student Mitchell M Rodgers Western Governors University The Progressive Path: A New Approach for the Modern Student Recent college graduate…in debt. Early to mid-twenties…in debt. No retirement or emergency savings…in debt. Minimal work experience…in debt. Too many Americans are subject to this common denominator…in debt. For far too long we have become accustomed to the monotony and strenuous financial burden of at least four years of college immediately following four years of high school. At times, this may be a wise path for a student to follow but we as a society need to take a step back to analyze whether or not this truly is the best path in the long run. According to Barbara King (2015), an assistant professor of mathematics at Florida International University, when she collected data pertaining to 1,947 students majoring in Life Science, Business, Social Science, Education, Humanities, and Physical Science/Engineering, she found that 37% of them switched their major, thus delaying their graduation and increasing their debt obligation. Any student planning on taking full responsibility for their tuition should consider delaying enrollment in higher education after high school to make way for an entry-level position because they are more likely to graduate with a lower debt obligation, they will enjoy a more bountiful retirement, and they will most likely be both financially literate and free. By delaying enrollment...
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...Title Exploring Strategies for Avoiding and Managing Debt Signpost A, Part 1: Learning Check When does it make sense to use a credit card? You can use credit any time as long as you plan to pay off the card at the end of the month. Don't use a credit card unless you need it to gain a benefit or because the transaction requires it. Just be careful not to over-use your credit card and you'll be fine. Really, just never use a credit card. They're dangerous. How many credit cards should I have? Do not get a credit card under any circumstances! Get as many as you need in order to gain all of the benefits possible. Make sure you have a few cards with different interest rates and options. Limit yourself to a small number of credit cards. I want to buy something but don't have the cash on hand. Is it ok for me to put it on a credit card? Just don't use credit cards at all! No, never. You should only buy things on credit that you can pay for with cash. Sure, just don't go crazy. That's what credit cards are for, after all. You can do this only if you have a specific plan in place to pay off the debt. Signpost A, Part 2: Learning Check I heard that there are actually several credit agencies. Is that right? No, there is only one. Yes, there are three. Yes, there are five. Yes, there are seven. What does the score range from? 1 to 100. 100 to 850. 300 to 850. 300 to...
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...The authors of “The Myth of the Student Loan Crisis” believe that there is no student loan crisis. The authors of “Here’s Your Crisis: Student Loan Debt Isn’t a Myth” disagree. College tuition plays a big part on what school a student will decide to go to. Many students are offered scholarships or financial aid for the school of their choice. The student loan crisis is not a myth, but it is also not completely true. Nicole Allan and Derek Thompson are the authors of “The Myth of the Student Loan Crisis.” The authors want to get the point across to readers that students receive financial aid and student loans are not as bad as what people make them out to be. “Horror stories of students drowning in $100,000+ debt might discourage young people...
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