Zack Easton

English 112

Professor Newman

3-22-22

Student loans

As a college student I have yet to deal with student loans. When it comes to the amount

of money it costs to be in college it is a lot of money. The amount of money needs to be brought

way down in order to have more people want to come to the school/college. College is not fun

when you realize that you will be in debt for a very long time after the fact. In life you shouldn't

have to go into debt to get a degree that wont pay as much college cost half the time. Most kids

when they are about to graduate don't want to go into debt. I know a lot of kids that didn't go to

college for that reason.There are many ways to make your debt cheaper when you graduate

from college.

My older sister is currently in her fourth year at James Madison University. She has

been working for the school since she first started going there. She was working in the book

store. Now she is working in the computer area. She fixes computers when they come in saying

they are broken. She plans to transfer to a new jersey school to finish her degree but she

doesnt know because of how expensive it will be.

Personally I already have gone through the problem of thinking if I should go into debt or

not. I had two roster spot offers to go play at randolph macon and wilson college but I couldn't

choose that because of how much it would cost. Instead I made the decision to come here

because it was a lot cheaper. At the other colleges on the other hand it was very expensive.

My best friend decided not to go to college because of how expensive it is. He was a two

sport athlete who decided to go to work instead of going to college. Personally he shouldn't
have to make that decision knowing that he was school smart. He should've had the opportunity

to go to school without having to deal with money. Now he works for a chemical company that is

very dangerous.

I believe that the government should make schools either free or lower the prices to

make sure that it's affordable or where they can make the money while they are in school.

When people sit there and decide to change their future all because they don't want to be in

debt for the rest of their life. Instead people decide to break down their body just to make sure

that they have enough money when really. They should try to get their education to be able to

do what they want to do. If someone has to choose either school or working. It shouldn't have to

be asked if they want to be in debt for the rest of their life or not. Some people have the problem

of their parents telling them that they are not allowed to go to school because it is awful. When it

comes to the point where kids have to make a big decision all because they don't want to be in

a whole for the rest of their life.

Even if you decide to go to college and become in debt for a very long time if not your

entire life. I've heard sometimes it breaks down your credit score and can also make it harder to

pay bills every month because you're trying to pay the debt off. I've had teachers tell me that if I

don't have a scholarship for sports or academics then don't take the chance of being in debt for

the rest of your life.

Some quick statistics from over the years. “55% of bachelor's degrees and a non- profit

four year school have pulled out a student loan in 2020. The average debt of a graduate is

28,400 in 2020 after going down 400$ after 2019. 66% of college loans were on an average of

26,900 per loan from 2016 from a public college. 68% of loans taken out for a private school

were on an average of 31,450. 83% of profit school students were taking out on average

39,900. In total students and parents borrowed 95.9 billion dollars in the 2020-2021 year.

When it comes to private colleges here are some numbers. Americans own up to 136

billion dollars to private schools. Student loan dept volume is up to 12 billion in the year of 2020-
2021. Though 90% of undergraduate and 63% graduate private loans were consigned by

someone during the year of 2020-2021. More than half of undergraduates have not used federal

student loans 53%. 16% of student loans were all for private school.”

Some parents have taken the opportunity over the years to save money to be able to

pay for their kids' college tuition.

“When it comes to people who have graduated in the year of 2020 they have gone up by

20% on the amount of money owed to the government. While nearly borrowing 30,000 dollars a

year for school. Now those that have graduated from a private school have borrowed nearly

33,000 dollars a year for school.”

“Nearly ⅓ of students in the United States are in student debt. The average of student

loan debt is up to 38,792 in 2020 and that sums up to be around 1.58 trillion dollars as of

november 2021.”

The only thing I can ask for as a student in the college world is to make college cheaper

or make it free. Some people die with debt from college. Some people don’t. Don't put pressure

on people's lives to make it seem like they owe a lot of money to the government all because

they are trying to be a good romottle for their children and make sure they can help their family

with anything they need help on.

I am lucky to the point where my mom said she would help me pay off all of my college

debt if it ever comes to the point where I have to get it. Luckily my mom has been through it alot

with my sister. She knows exactly what she's doing when someone gets into debt. Its really bad

when kids start having to work on everything by themselves instead of having someone there

with them to help them with the debt. Unless they have a great paying job and not a very big

house. Many kids my age are going through the problem of being in debt and not knowing how

to get out of it when they turn twenty five.

I personally have a very close friend and he tried to go to old dominion university

because it was his dream school. He ended up only going there for a year because he didn't
have enough money to pay for everything that he needed to pay for. He ended up taking a loan

out and didnt end up returning to odu after his first year because of how expensive it was. Many

kids have thought about trying to go to a big school until they realize that it is very expensive to

go to some of the schools they would like to go to. As one of those kids when I was little I really

wanted to go to NC state. Their school was amazing then I ended up learning about how much

it cost and the long term effect on being in debt for a very long time and I ended up having a sit

down talk with my mom and she told me to just follow my heart hoping to be there one day.

From that day on I have tried to go to that school to play baseball because I still have hopes of

being on that campus one day as a student.

As a kid growing up in this new age it's showing that life going on in the future that a

dollar isn't always going to be worth a dollar. Every price on everything will be going up. Years

down the road you never know it could be showing that student debt is 30,000 and 10 years

from now it will be 40,000. All you can do in your future is hope you get in with something

electrical or laptop based and hope that it takes off and you make a whole lot of money. Its

getting to the point where robots are gonna start doing things for us.

People don't understand how far everyone has come from money and the amount of

everything is way up from let's say the 1900. My mom used to always tell me if I see something

cool and collect it till I'm 20 it might be worth something. I have never let anything go of min

personally that I have room for. Getting to the hump in life that gets you to the point where you

need to do good in life to make it out of anywhere is the number one thing.

Don't get into college debt if you don't have to. It's not worth it. Try to save as much

money as you possibly can because at the end of the day money is just gonna keep becoming

more and more a thing people have and the more you have the better off you will be in life.

Some people start off with none and end up finding their way to a lot. Also some people start off

with a lot and their parents try to make it seem like they have a lot and then it gets to the point

where they dont have alot and then out of the blue they are broke and have nothing. Don't let it
get to that point in your life where you have to make that decision and just make sure you're

stable enough and are able to not be in debt and owe the government money for you getting

your degree.

https://studentloanhero.com/student-loan-debt-statistics/#:~:text=More%20shocking%20student

%20loan%20debt%20statistics&text=66%25%20of%20graduates%20from%20public,borrowing

%20an%20average%20of%20%2431%2C450).

https://www.usnews.com/education/best-colleges/paying-for-college/articles/see-how-student-

loan-borrowing-has-risen-in-10-years

https://scholarshipamerica.org/blog/the-far-reaching-impact-of-the-student-debt-crisis/