Although a majority of the American society find student loan forgiveness to be unrealistic, I believe that forgiveness can provide a well-rounded economic platform for graduate students who have acquired large amounts of debt due to college tuition costs.…
Burgans 1 Alyson Fulton Burgans Cassandra Hamilton Education 201 6 Oct. 2015 Journal Review Article Dietz, D. (2015, October 1). Students with huge loans wonder if college was worth the cost. Register Guard, The (Eugene, OR). The article, “Students with Huge Loans Wonder if College was Worth the Cost,” by Diane Dietz, explains that many students are drowning in debt.…
Applebaum argues that student loan debt should be cancelled for the following reason: forgiving student loan debt will attribute to a growing economy. Hence, the title. But further into his article, his attempts to appeal to readers’ emotions weaken his credibility and, eventually, argument. Applebaum…
Student loan forgiveness has been one of the hottest topics for the 2016 presidential primary candidates. Student loans are extremely important because of one huge reason, the ability to repossess knowledge. When someone defaults on their car loan there is a physical asset you can get back. For example, if the car is worth $30,000 and you repossess it to sell it for $20,000. There is $20,000 worth of the loan debt the lender can get back.…
In today’s society, many people are pressured to feeling like they have to go to college in order to get a good job and be successful in the future. Along with going to college comes the ridiculous amount of money that all students face in debt after they graduate. The short essay, “Is Forgiving Student Loan Debt a Good Idea?,” written by Kayla Webley, gives many examples of why she thinks that Robert Applebaum’s proposal of bailing out anyone with student loan debt is a bad idea. The author discusses how unfeasible this proposal is and the negative side effects that this would have on our country. Kayla Webley successfully uses logos to challenge the ideas of Robert Applebaum while confusing the audience when trying to appeal to their emotions, and her lack of credibility in her appeal to ethos does not help strengthen her argument.…
“By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good-paying job”(mark Pokan). College debt has become a big problem with many students leaving with tens of thousands of dollars in debt, many have returned from pursuing their dream jobs. My dream job has always been to become an engineer. This dream of mine may never come to fruition due to the fact that college is so expensive. This scholarship will greatly decrease the financial stress that I and many other students feel.…
Student Loan Debt and the Economy Ever since the idea of going to college was created students have always worried about how they were going to pay for it. In 1958 the government thought of a solution and the first federal loans for college were introduced (New America Foundation). shortly after former students started to struggle with paying them back, 57 years later students are still fighting the same battle. with interest rates and the costs of tuition rising students are still encountering the same hassle if not even worse.…
Why do people try to get student loan forgiveness? There could be several reasons why a borrower decides to get his college loan discharged or forgiven, and most of the time it has something to do with his financial situation. When trying to get your debts discharged, the process mostly involves filing for bankruptcy, hiring a lawyer and everything depends on court decision. Are educational loans likely to be forgiven in typical bankruptcy settlements?…
I loathe my student loan debt, but then again, no one likes their student loan debt! Some news broke this week that added a bit more understanding to some of the heartache I’ve experienced with my student loan provider. A major student loan company, Navient, is being sued by the Consumer Financial Protection Bureau. I am particularly interested in this (ok part of me is really excited to see them get theirs!)…
Unburden them and the housing market might improve, along with the overall economy. The uses of the extra government money and how it would be more useful if it was spent on forgiving student loan debt instead of things like bank and auto bail outs. People that do not accept the forgiveness of student loans are the tax payers that do not want their money not to be paid back in one way or another but what they do not understand is that whenever someone gets their loan forgiven they have to make payments for at least twenty years before they can get granted forgiveness. In King, T., & Frishberg, I. (2001). Big loans, bigger problems: A report on the sticker shock of student loans.…
In the essay “Student Loans: Should some indebtedness be forgiven” by Robert Applebaum, the author argues that, like the essays name indicates, because the financial burden that student loans have become, after some reasonable repayment period, legislation should forgive excessive student loans. Applebaum points out that education should be a right and not a commodity. He points out that Americans are overpaying for their education and that there is no connection between the salary expected to be paid upon graduation and the tuition paid. He supports this statement by bringing to light that every other industrialized country has already figured out how to pay for higher education for its citizens. Furthermore, the author suggests that the student…
In today’s modern world, student loans have become an anchor just too heavy to drag. And so, this introduces the issue of student debt, and if it is really fair to all American citizens. The total student loan debt in the U.S is 1.48 trillion dollars, 620 billion more than the national credit card debt (Source A). If that doesn’t say something about how outrageously expensive student loans are, then I don’t know what does.…
Student loan debt has increasingly become an issue, not only for those who have acquired it and must deal with it, but also for the economy. To function normally in today’s society, pursuing a college education is a requirement for those who want a high paying job. With this decision, students also decide to take on large amounts of student loan debt and the long-term turmoil that it inevitably leads to. Student loan debt impacts students purchasing power which negatively impacts the economy. Over 42 million people owe $1.3 trillion in student loans (Rosato).…
Most faculty college students during the U . s . qualify for federal student loans. Students can borrow the same number of money, in the exact selling price, irrespective of their individual earnings or their parents' incomes, irrespective in their anticipated foreseeable future profits, and no matter in their credit score record.…
The average college graduate in 2015 will graduate with a little over thirty five thousand dollars in debt from college. That is a very large amount to owe when you’re supposed to be starting your life and buying a house and starting a family. At that point in my life there is a possibility that I won 't have a career yet, which means I will be making a minimal amount of money, if any at all. It would be insanely hard to pay off debt while I had many other things I was focusing on that required money as well. Also, there is a good chance that you will end up paying more than thirty five thousand dollars or whatever amount you owed because of interest.…