Argumentative Essay On Student Debt

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Students have many options for higher education; private or public schools and you can choose a two or four year institution. This would cause one to believe that there is the right school with the right price range for everyone. Yet this is not always the case, many students can only afford public 2 year schools but have the desire to attend a pricey Ivy League school. For those students who cannot get scholarships there are always student loans, which is how many students pay for college. In America today there are more than 37 million people who have student loan debt which totals over a staggering $1 trillion. As indicated in the chart below, student debt is at an all-time high with some students owing more than $50,000 in student loan…show more content…
The number of 25 year old Americans with student debt has jumped from 27% in 2004 to 43% in 2012. Fifteen percent of students with loans have delayed getting married. Currently there are 115,000 janitors in America who have Bachelor’s degrees and 1 in 5 Americans carries student debt. At the end of 2011, 50% of graduates who had bachelor’s degrees were either unemployed or working jobs that did not even require a bachelor’s degree. (FRC Blog, 2013). This causes graduates to get discouraged and they might stop looking for jobs in their field or they might even stop looking at all. The unemployment rate for College graduates was at 7% in 2005 this number has steadily risen to 15% in 2009. That number dropped to 12% in 2009 but rose again to 13.3% at the end of 2012. This is why the entire economy is suffering graduates are putting off getting married, Buying houses and cars. Only individuals who have paid off loans are more likely to purchase a new car (as opposed to a used model) during the last decade. But because students can't afford new cars over $6 billion is lost annually in new car purchasing power, this is directly tied to student loan debt. Forbes (21,

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