How Student Loan Debt Can Affect One Mentally And...

Student Loan is designed to help students pay for University tuition, books, and living expenses. Student Loan Debt money owed on a loan taken out to pay for educational expenses. Rapidly rising college tuition costs have made student debt the only option to pay for college for many students. I think this is very important because it raises awareness for all college students and post college students looking to use their degrees that they have earned. We have a problem in this country of student loan debt. It is keeping students from being able to live out their dreams and holding many students back after college. This is not my first time hearing about student loans and how badly they affect one’s life. Growing up, my mother always preached to me the importance of good grades and how they would benefit me in the long run. She always told me that good grades and a good ACT score would get me Scholarship money; money that I do not have to borrow. I know personally how student loan debt can affect one mentally and physically. My mom went to a private institution and could not get enough scholarships and grants pay, so she had no choice but to rely on student loans. She is a social worker making $30,000 a year, and owes more in student loans than her yearly salary. My mom like many others not only had to struggle paying loans, but also had to maintain a household. In 1958 U.S congress passed (NDEA) National Defense Education Act. That loan act was only for teachers in,Show MoreRelatedA Note On Financial Consequences1686 Words   |  7 Pageslead to serious financial consequences in the future. Make a plan detailing what are you going to use the credit for, how much money will be spent, what’s the interest rate, and how long do I have to pay it back. The sooner you make a payment on your credit bill, the least likely you’ll default on a payment. Defaulting on a credit payment not only hurts your credit score, it also incurs penalties that you have to pay for such as, late fees or your credit score dropping. Lenders are least likely toRead MoreGraduation Speech : Growing Up1955 Words   |  8 Pagesmarried, have kids, and live happily ever after. It all sounds pretty familiar, however many young adults find that life does not always happen so simply. There are horror stories everywhere. Students graduate, fail to find a job in th eir field as they expected, and are left feeling hopeless as their credit card and loan bills pile sky high. Take Paige Nichols for example. Paige grew up in a family that was well-off financially. Her parents were able to pay for her two younger siblings’ college educationsRead MoreThe Role Of Academic Performance On College Students999 Words   |  4 Pagesdifferent ranks, the one common element they all share is that the student is passing or has passed their course. However, studies have shown that in American colleges grades have dropped progressively in recent years. College students depart from their institutions for different causes and poor academic performance is one of them. Rather it is being worked over time managing, losing interest in their learning priority, or distracting oneself over other non-educational wants, students will most likelyRead MoreShould College Sports Be Paid?1732 Words   |  7 Pagesthey had players work and will their way to the finish l ine. If players were paid, you wouldn’t see players like Michael Jordan, Hakeem Olajuwon, or Ralph Sampson on different teams. It would be the college with the most money, could pay the best student-athletes, the most money and Cinderella stories for the most part would disappear. Dynasties of college sports would be made. Money would ruin college sports more than it already has. It has already stripped championships, ruined players imagesRead MoreThe Government Should Help Students Pay For College Essay2034 Words   |  9 Pagesdream and the next step in life for many students. However, going to college and finishing school are two completely different things. There has been a decrease in students who completed college. Researchers are wondering, what is causing students to not finish schooling? There are many reasons and questions to why it could be affecting the completion of college rates. One of the main issue is the skyrocketing cost of college tuitions. Majority of students are having stress and anxiety for not beingRead MoreCauses and Effects of Stress in the Life of a College Student1667 Words   |  7 Pagesof Stress in the Life of a College Student If one were to ask an adult about their college experience it is likely than the majority will say it was the best time of their life. They had fun, enjoyed the full college experience, etc. If you ask students currently in college to describe their experience, it may still be the best time of their life but it will likely also be described as stressful and filled with a variety of pressures. The average college student will likely change his/her majorRead MoreWhy Education Is Essential Tool2449 Words   |  10 PagesEducation is one essential tool that is used in everyday life in order to be successful. It is what makes challenges less severe and painful. Most times people make educational decisions with out even realizing it, almost as if it were an inborn reaction. People use their judgement and the process of elimination in order to make firm and logical decisions. The knowledge gained through education is what allows ones drive to be used to teach the human mind. Education op ens doors of opportunities, allowingRead MorePoverty : The Dilemma Of Poverty Essay1968 Words   |  8 Pagesproblem. There are short term causes of poverty that unquestionably affect poverty rates, such as heavy drought and other environmental factors, but this still does not account for the many millions of people that can barely afford to live. A countless number of citizens of the United States cannot even recognize the problem in their own back yard. As Diana George states in her essay, Changing the Face of Poverty, â€Å"More than 35 Million-one out of every seven of our fellow citizens-are officially poor.†Read More Students Deserve A College Tuition Essay3258 Words   |  14 Pagesabout this: a straight F student with a family that has a sufficient amount of money. This student gets to go to the best college that their family’s money can buy, which will probably go to waste on partying. Now compare that to a straight A student, living in a too-small temporar y place, and no way to pay the bills. This student is everything a college could dream of having, and they actually care about their education. Sadly enough, though, they will never go because how can someone possibly go toRead MoreBecoming An Entrepreneur As A Entrepreneur1926 Words   |  8 PagesMost people go to University or College to develop the knowledge or skills one one need when pursuing a certain career. Each program that a person enters has the ability to major, minor, or specializes in a certain area of that program so that they are able to focus on those skills they will need when entering the career that they are achieving for. At the University of Prince Edward Island, in the School of Business, when someone is getting their Bachelor of Business Administration, they are able