Jinliang Sun

Professor

English 1201

11 November 2019

Annotated Bibliography

In my essay I will go in depth on how college debt affects future life choices of

students. What an average payment looks like for students once they graduate and explain

what monthly student loans vs. monthly gross income means. I want to know what is the

average number of years it takes a student to pay off their debt, and stress factors it plays in a

student’s life. I want to understand why are so many students affected by not being able to

pay on student loans of.

Fay, Bill. “Student Loan Resources: Financial Aid & Loan Debt Management.”Debt.org

, Debt.org - America's Debt Help Organization, 1 Apr. 2019, www.debt.org/students

Bill Fay is the author of “Student Loan Resources: Financial Aid &

Loan Debt Management.”mHe explains that on average a student has $37,172 in college debt

and that’s the total U.S student debt is $1.4 trillion dollars. He even broke it down to student

debt accrued every second is $2,858 dollars. That much debt at that a young age does not go

away quickly. The affects of college debt are effecting students by not being able

to purchasing a home, starting a business, delaying marriage and contributing to retirement

accounts. This academic article is targeting college students who have debt. It tells students

what average debt one person takes home when finishing college and the average debt

accrued when you are not making payments. This gets students to think about future plans in

life and how it can be hard to purchase a home, or start a business by having a substantial

amount of students loans

 This article was published by www.debt.org/student. The source of the article

was debt.org- American Debt Help Organization and written by Bill Fay who spent thirty-

year covering college sport. He is the founder debt.org, and was last updated in April 1 of this

year. The information is very up to date and relevant to my research. I plan on using this

article to state what the average college student takes home in debt from college. And how

hard future plans like buying a house or starting a business is hard dude to the substantial

debt a student carries.

“Understanding Delinquency and Default.” Federal Student Aid , 19 Oct.

2018, studentaid.ed.gov/sa/repay-loans/default.

“Understanding Delinquency and Default” is an article founded by the government to

educate students on what could happen if you miss a payment and the consequences one

will have. Delinquency is when you miss a payment on your loans you borrowed for school

and they ding your credit score making it lower, which can affect future purchases. Default is

when you continue to miss payments and you lose future financial aid, the loan holder

can take you to court and sue you, most importantly it will take years to establish good credit

again. This article is targeting students who have college loans, and the affects one could

face by missing a payment. This article pushes college students to understand the

consequences one will have my not paying there student loans on time. It also urges students

to be aware of how this can hurt ones credit. This academic article was published

on studentaid.ed.gov and the source was Federal Student Aid. The author is Federal Student

Aid, which is funded by U.S. Department of Education.

Dahlheimer, Darryl. “Expert Interview with Darryl Dahlheimer on What You Should Know

about Student Loans.” Mint , 3 Mar. 2015, www.mint.com/expert-interview-darryl-

dahlheimer-what-you-should-know-about-student-loans.
 Darryl Dalheimer is the author on the article called “Expert Interview with Darryl D

Dahlheimer on What You Should Know about Student Loans. It is to help students

understand what type of loan they have or want. This article explains the different types of

loans students can choose from. He explains what types of loans are good for a student

to consider and what type of loans are bad, and how it can actually cost you more than the

original priced borrowed. He explains how important loan counseling is to a student and how

it can help you pay your loan off quicker instead of accumulating interest. The article is

targeting college students and future college students to get educated on student loans that

you take out or plan to take out. This pushed the reader to really consider on what student

loan works best from them understand how it works. This article was published on

www.mint.com. The source of this article is Mint and written by Darryl Dalheimer who is a

Program Director at LSS Financial Counseling. This article is still relevant because not much

has changed in the last couple of years on what type of student loans a student can take out.

Solis, Oscar, and Ralph Ferguson. “The Relationship of Student Loan and Credit Card Debt on

Financial Satisfaction of College Students.” College Student Journal, vol. 51, no. 3, Fall

2017, pp. 329– 336.

EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=s3h&AN=125256414&sit

e=eds-live.

Oscar Solis and Ralph Ferguson are the authors of “The Relationship of Student Loan and

Credit Card Debt on Financial Satisfaction of College Students”. This article explains how

college is viewed as a way to better educate a student and how investing in your education

will only benefit your life. College tuition keeps increasing making it harder for students to

pay off student loans. Having debt is a burden to students, and they are more likely to drop

out of college dude to the fact that there future degree will not be enough to pay off their

students loans. This academic article is targeting college students and future college students.
It states that many college students drop out due to not making enough money to pay on their

student’s loans and be able to have money left over for living expenses. Understanding the

financial satisfaction of college students it will lead to students sticking thorough college and

graduating. This academic article was published on EBSCOhost. The source of this article is

College Student Journal, vol. 51, no. 3 and the authors are Oscar Solis and Ralph Ferguson.

Oscar and Ralph are both associate professor at West Texas A&M University College of

Business. This article was written fairly recent and will help me argue why students feel

overwhelmed with student loans.

Fossey, Richard. “Condemning Students to Debt: Is the College Loan Program Out of

Control?” Phi Delta Kappan, no. 4, 1998, p. 319. EBSCOhost,

search.ebscohost.com/login.aspx?direct=true&db=edsgea&AN=edsgcl.53933547&site=ed

s-live.

Richard Fossey is the author of“Condemning Students to Debt: Is the College Loan Program

Out of Control” academic article. This article explains how the student loan program has

deep underlying problems. This article explains how the amount of students borrowing

money to pay for college had tripled, and because of this one third of college

student’s loans are unsubsidized loans. Meaning as soon as the loans are disbursed you get

charged interest everyday on the money borrowed. Most loans take between twenty to thirty

years to pay off so by the time you finish paying your loans off you have accumulated double

the amount in interest then what was originally borrowed. This article is targeting student

who have unsubsidized loans. This informs the student of how much interest in charged

everyday on their unsubsidized loans, and how much more they have to pay each month to

pay off the interest. This urges students to really think about what loan they want to get when

paying for college. This academic article was published on EBSCOhost. The publisher was

Phi Delta Kappan, no. 4 and the author is Richard Fossey who is a U.S secretary of
 education. This information on unsubsidized loans is accurate to this day and will help

educated students on how interest accrues rapidly on them.

I plan to utilize this information to education everyone on unsubsidized loans and how

you could end up paying more money by choosing this type of loan. This is part of a lot of

college students problems is interest accruing on loans they can not pay for.

Quadlin, Natasha Yurk, and Daniel Rudel. “Responsibility or Liability? Student Loan Debt

and Time Use in College.” Social Forces, vol. 94, no. 2, Dec. 2015, pp. 589–

614. EBSCOhost, doi:10.1093/sf/sov053.

Natasha Yurk Quadlin and Daniel Rudel are the authors of this academic article

“Responsibility or Liability? Student Loan Debt and Time Use in College.”

This article goes in to depth about what college students use their loans for. Most students

have left over money end up using the rest to pay for living expensive. This article also

explains how middle-income students have the most debt because they do

n’t qualify for finical aid and their parents can’t afford to pay out of pocket. College debt

acts as a stressor for many students and because of this it can limit opportunity in their life. It

also explains how students spend their time on campus like going to library, academics,

socializing, and going to the computer lab. This academic article is targeting college students

and middle-income students. This article goes into depth on how some students are affect by

tuition and how they spend there time at college. Having financial aid definitely helps but

when you can’t qualify for it, it plays a huge stress factor in student’s lives.

This academic article was published on EBSCOhost. The authors are Natasha Yurk

Quadlin and Daniel Rudel who are both professors at University of Indiana. This article was

written fairly recent and can be used for how middle-income students struggle when going to

college.
 This article will help me break down how a middle-income student struggles the most

in college and how stress play a huge factor in their lives. Also understanding how students

use there time in college explains if they succeed or not.

Chen, Rong, and Mark Wiederspan. “Understanding the Determinants of Debt Burden among

College Graduates.” Journal of Higher Education, vol. 85, no. 4, July 2014, pp. 565–

598. EBSCOhost, doi:10.1353/jhe.2014.0020

The author of “Understanding the Determinants of Debt Burden among College

Graduates ”is Rong Chen and Mark Wiederspan. This article describes how students are

borrowing more money each year as college tuition increases. Students are at a point where

they cannot repay the loans they borrowed. Student debt is measured by the ratio of monthly

student loan payments to gross monthly income. It also explains how pell grants cannot help

many students anymore because of the continuous rise of tuition leading students to rely on

loans to pay for college. With the continuous rise of interest taxed on student loans many

students will dig deeper in college dept. This article focuses on college students who have

loans and have interest building up on student loans. It pushed students to really think about

what will happen when they start making payments on their loans and how much money it

will cost them monthly. This article was published on EBSCOhost. The authors are Rong

Chen and Mark Wiederspan. Rong is an associate professor at Seton Hall University and

Mark is a doctoral candidate at University of Michigan in the School of Education. The

source of this article is Journal of Higher Education, vol. 85. Even though this piece was

written a couple of years ago the information is still useful for students.