English
1A
Mrs.
Williams
22
December 2013
Paying
to Fall behind
Paying
money only puts you in debt. The money you are paying back through
student loans are only making you fall further and further behind in
life. In my research I have found that Student loans have increased
over the years and show no signs of slowing down. The world paints a
picture of college being the only key to success but fails to portray
the reality of how much more hard work you need to put into paying
off the student loans after you graduate. With a lot of jobs being
outsourced, many majors are hard to find footing in once these
college graduates hit the working world. If this nation plans on
working correctly and at its most efficient level major things need
to change and change fast. This economy will only be fixed once the
idea of student’s loans is revised into something that will truly
help the student and not put the student into a serious almost
lifelong debt that is really hard to pay off. Student loans need to
have a lower interest rate and develop a system that aids the
students in paying back the loans in a timelier manner.
College
is designed to help people go into the world as a more confident and
strong willed person. This part the colleges do right, most people
that have been to college or are in college feel that they have an
advantage over others who haven’t. This is true as well because
most people with a college education have a greater advantage in
getting a job. What the college system is doing wrong can be found in
how they are handling money. Many students have to resort to loans so
they can afford to go the school. These loans for the most part come
from the federal government. These loans help at first because those
students get to go to school and have their classes paid for. The
real hardship begins once they have to pay those loans back. The
interest rates that are given on these loans are high and very
demanding. The challenge to pay these loans in a certain amount of
time is made even harder when jobs are not a guarantee.
Another
way things can be fixed is if the regulations of when the student
loan needs to get paid back are changed. For example, right now there
is a type of student loan that doesn’t begin charging the student
interest until 6 months after they graduate. This is very helpful for
the student because it gives them time to get firmly grounded in the
working world and develop a way to pay back the loans. Even more
importantly it gives them a chance to pay off whatever they can
without interest during that 6 month waiting period.
In
order to get ahead in life you need a little boost, that is what
college is for right? Well with the way things are going right now,
college will only put you far behind financially in life at a very
young age. With society telling us that money is power and
reassurance, it’s a wonder how and why college, something we need
to finish to get ahead in life, only puts us behind in life.
