Paying to Fall Behind

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.