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Education Comes With A Price

posted Jan 10, 2019, 7:37 AM by PHS Warrior Beat

By: Jasmine Richardson  Normally for some teenagers, furthering their education is a dream, but some cannot accomplish this dream because they don’t have to money to do so or don’t want to live most of their adult life paying student loans. Also some parents see they can’t for college tuition for their child/children, so they prefer they work instead of going to college.  Not only is the tuition for class expensive, but some colleges require students to sign up for the meal plan and other additional expenses.    

     According to College Education.ProCon.org, “About 44 million Americans owed over $1.5 trillion in student debt”, As May 2018. Also 10% of student graduate with over $400,000 and 1% of students graduate with $100,000 in debt. With the missing of payment, it can cause your credit score to decrease, and it can add fees that can result in the threatening of their future in employment and purchases.

    Only 20% of millennials are home owners and most explained that their student loan debt delayed their plans to own a home for an average of seven years according to College Education.org. Not only does student loans affect student’s financial stability, it can results in some students living with their parents and postponed marriage and other future plan that they might have.

    Even after some student graduates, it is not a guarantee that they will get a job right away, so they have to struggle to find a way to pay back student loans, with no job. Also if student loans are not paid, there is interest fees, which makes it a longer struggle to pay the debt.

    Although, with high tuition cost it allows the colleges to remodel and updated the equipment and resources needed for the campus and the students. The increased fund allows better opportunities for the student to be ready for their career choice. This also allows colleges to have more programs, which makes them good competition for other campuses and it increases student population in school.

     David Hodge, president of Miami University in Ohio, explained to U.S. News and World Report that,, “Some schools use the money to improve career centers or develop programs for students with physical, emotional or mental disabilities.” College may use the funding for building ramps and others accessibilities. Colleges may use funding for also securities and emergency systems. Colleges can use the funding for repairs as well.

    Student loans can last many years even after a person has graduated and in bankruptcy the loans may not be forgiven. “A 2011 study found 60% of people attempting to discharge student loan debt in bankruptcy were unsuccessful.” According to College Education.org. The only way to discharge your student loan in bankruptcy is to prove “undue Hardship” College Education states. Doug Wallace, Jr. who fought for six years to have his $38,000 in student loans discharged after becoming blind and being unable to work; his student loans were not discharged although his medical debt was immediately discharged.

      Education shouldn’t have to come at a high price. Its suppose to help you gain money, not go into debt.

Uploaded: 1/10/19

Edited By: AS

Source:https://college-education.procon.org/

https://www.theclassroom.com/advantages-disadvantages-of-rising-college-tuition-13590847.html


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