Pros And Cons Of Debt In America

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One of the main reasons why most of America’s population are in debt is due to the outrageous expenses of requiring a high quality post-secondary degree. Almost all students that come from a low-income back-round are in debt because expensive colleges prevent opportunities not just for career options but for life as well. Students who graduate with debt usually live with that debt for years which can end up affecting retirement plans, building a family, and other qualities of life. More students are only settling for a high-school diploma because they can’t afford to go to college, and with less people requiring an associate degree or higher our current level of educational progression will continue to drop. Not only will this affect people’s lives…show more content…
Many argue making college more affordable might result in causing students to take college less seriously, and with more people requiring a degree people worry the value of a degree will decrease and eventually lead to more unemployment. According to Trade schools, college, and university, “such an idea would simply be too expensive for the federal and state governments to maintain long-term. As a result, Americans may have to start paying much higher taxes. And that, they say, could hurt the economy since people might have less to spend or invest.” (“Should college be free?”) although this point of view is popular and seems convincing at first however, there are plenty of alternates we can do to avoid most of these problems such as cutting back on student loans and expanding the already existing Pell Grant program, investing in a greater system of programs for the youth and community development, and expanding in a better financial education teaching students to become more financially illiterate and learn how to make money work for them before entering college or getting their first

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