Student Debt Is Tough And Federal Loan - 865 Words

The qualifications for the program are tough and federal loan forgiveness only applies to federal Direct Loans, not private student loans. If the graduate is lucky enough to land a public service job the graduate must realize that there is no guarantee that the employment will still be around in ten years since no one truly knows how the program will work or if it will work at all. Val Meyers, associate director for the Office of Financial Aid at Michigan State University comments are recorded in Susan Tompers’ article â€Å"My Apologies: Forgiving Student Debt is Tough†: No one knows quite how this program will work yet, or if Congress may decide it costs more than they counted on and change it once they start the loan forgiveness in 2017, (qtd. in My Apologies: Forgiving student Debt is Tough). Student debt forgiveness is not the answer, for it is the cost that is the issue that needs to be addressed. As Robert Applebaum states in his short essay mentioned in the article â€Å"Student Loans: Should Some Indebtedness Be Forgiven?† tuition rates are increasing at ridiculous rates because colleges somehow feel that because the government makes it easy to get a loan it justifies their rising tuition costs (466). Instead of arguing for student loan forgiveness, perhaps protesters should refocus their attention at the paramount reason for needing student loans in the first place. The article,Show MoreRelatedStudent Loans : The Good, The Bad, And The Ugly899 Words   |  4 Pages Running Head: STUDENT LOANS: THE GOOD, THE BAD, AND THE UGLY. Brown-Gorham 1 Student Loans: The Good, The Bad, and the Ugly Da-Mosi Brown-Gorham English 101-23 Western Carolina University Running Head: STUDENT LOANS: THE GOOD, THE BAD, AND THE UGLY. Brown-Gorham 2 Most people are aware that federal student loans are a type of financial aid that must be repaid to the federal government, unlike grants or scholarships. Federal student loans are administered by the United States Government by way ofRead More College Student Loans Skyrocket Essay example747 Words   |  3 Pages If youre counting on government student loans to get you through college or graduate school, count on paying them back. The Education Department has become one of the toughest debt collectors around. Over the past decade, the agency has steadily expanded its arsenal for dealing with former students who dont repay. A 1998 change in federal law made it extremely difficult for people to escape student loans through personal bankruptcy. The Education Department also can now seize parts of borrowersRead MoreEffects Of Loans On Students By Suzanne Mettler1410 Words   |  6 PagesEffects of Loans on Students a. Sabotaging the American Dream Nowadays, the detriment in higher education has reached alarming levels. According to Suzanne Mettler, a political scientist at Cornell University, while students work hard on the side to be able to afford an education, they receive an inferior education because education has evolved into a caste system that doesn’t give them a chance to succeed. Mettler addresses this topic in her book, â€Å"Degrees of Inequality: How the Politics of HigherRead MoreHigh School Vs. The Federal Government1327 Words   |  6 Pagesgraduate with a degree and seek a career in the tough world as of late. 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 fact, there is currently over $1.2 trillion in total student loan debt, eclipsing the amount of credit card debt. The reason f or many families to borrow moneyRead MoreEducation Debt: The Problem and Solutions Essay1125 Words   |  5 Pagesthe ever-increasing tuition and ever-tighten federal student aid, the number of students relying on student loan to fund a college education hits a historical peak. According to a survey conducted by an independent and nonprofit organization, two-thirds of college seniors graduated with loans in 2010, and each of them carried an average of $25,250 in debt. (Reed et. al., par. 2). My research question will focus on the profound effect of education debt on American college graduates’ lives, and myRead MoreA College Student Debt Problem1595 Words   |  7 Pagesdifferent kinds of loans that students can obtain to help them continue their education. Being able to expand their education so easily can come with a hefty price. Students come out of college with student debt up past their ears, and so many students have trouble paying those loans back because of the amou nt of loans and the number of payments that people have to make can rip their financial future apart. If more students had more options to help them avoid, minimize, and erase college debt this countryRead MoreStudent Loan Is A Terrible Idea1308 Words   |  6 PagesStudent loan forgiveness is a terrible idea. Sure, in an idealistic world it would be great if the country could forgive all student loan debt and thus bring relief to all students across the nation. Realistic? Not necessarily! Instead of the fairytale notion of student loan forgiveness being the answer to all the problems, America would fair better in taking the initiative in making reforms to the educational loan system that are a bit more realistic. Student loans are a massive predicament in theRead MoreGraduation Speech : College Loan Debt1126 Words   |  5 PagesWith college loan debt steadily increasing in the U.S each year, many of college students and graduates are forced into a corner. Many students cannot af ford college so they take out loans due to the increasingly competitive job market. By the time most students graduate they are in massive debt. The class of 2015 graduated with an average debt of $35,000 (Bennett Wilezol 76). Cumulative student loan debt within the country now stands at 1.2 trillion. It is now the largest non-mortgage type ofRead MoreAn Education Battle: Decreasing Amount of Scholarships1155 Words   |  5 PagesFor the last couple of years, students graduating high school have a hard time getting into college or even getting a job. Without a job, scholarship, or financial aid to help, it can be tough to pay for your education. Students are lead to lesser jobs and forced to not go to college because they can not afford tuition. A reason why these colleges ask for so much money is because they don’t have the funding to keep them afloat, so they bump up the prices to get in. School systems need more fundingRead MoreA Short Note On Unsecured Loans And Unsecu red Loan1126 Words   |  5 PagesSecured And Unsecured Loans In Bankruptcy By Christopher M | Submitted On June 27, 2011 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Christopher M When it comes to taking out a loan, you should know they