Solving The Student Debt Crisis Essay - 1609 Words

The student debt crisis has reached an all time high with debt reaching a total of 1.3 trillion dollars across the United States.With tuition cost increasing,lack of scholarships and an increase of government loans,student debt will continue to increase.The enormous amount of debt put upon each student creates the inability of those students to help the economy grow.Our economy as we know it is in shambles and decreasing the student debt significantly will help the economy grow.Instead of debt owers putting that money towards the government where it won t be used to help decrease the student debt as we can see by the total debt, it should go to the community. Money going to places such as purchasing homes,cars,consumer goods will help improve the economy.To help alleviate the immense amount of student debt lenders should be required to forgive student loans in cases where students are unable to repay their debts,decrease cost of attendance,and increase scholarship opportunities fr om universities and implement more merit based sholarships.Doing so would benefit the growth of the economy by increasing the job market,housing market and would help businesses grow. Pineda 2 Students on average have more than 25000 dollars in student loan debt they have to pay back.Due to the incredible amount of debt certain issues arise ofShow MoreRelatedThe National Student Loan Debt1571 Words   |  7 Pagesadded to the national student loan debt. According to the Consumer Financial Protection Bureau, college debt now ranks second in the greatest debt owed besides a home mortgage. Unfortunately, the affordability of obtaining a post-secondary education no longer exists. Americans are now faced with over $ 1 trillion dollars in student debt. With such a huge escalation in college debt, we are facing a generation where over 50% of graduates will owe debt (McDaniel). While having debt after graduation isRead MoreBudget Cuts780 Words   |  4 PagesIllinois State government. The schools are being forced to make budget cuts. The teachers at the schools are being forced to take furlough days, which are day they have take off with out a pay. The cause of all of these actions is due to the major debt the State of Illinois is in. The money the state should be paying the universities, the state is using it on other items. University of Illinois is one of the schools that has to take budget cuts. 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There are too many technicalities and the fact that you re only doing this to make the republicans angry ( because whatever Democrats come up with Republicans disagree with, like the budget crisis ) will lacerate the U.S.A, not you. II. Reason #1 and Evidence First and foremost, Obama should have gone through Congress , the natural way. The natural way for a law to become a bill is to go through the house and then the Senate and then the