The underlying reasoning for a student to take out loans is because of their goal to achieve a career with a salary that gives them the ability to pay back those loans. While many students are capable to achieve this goal; around 70 percent of Americans study at a four-year institution, yet less than 66 percent will graduate (Beckstead. para. 1). This type of uncertainty drives interest rates high for student loans particularly then other types of loans. Many students with entry-level positions may still feel the burden of their accruing student debt. For example, the consequences of high interest rates may drive students to rely on loan forgiveness plans; yet, the requirements are strict and difficult to be eligible
The underlying reasoning for a student to take out loans is because of their goal to achieve a career with a salary that gives them the ability to pay back those loans. While many students are capable to achieve this goal; around 70 percent of Americans study at a four-year institution, yet less than 66 percent will graduate (Beckstead. para. 1). This type of uncertainty drives interest rates high for student loans particularly then other types of loans. Many students with entry-level positions may still feel the burden of their accruing student debt. For example, the consequences of high interest rates may drive students to rely on loan forgiveness plans; yet, the requirements are strict and difficult to be eligible