Nobody downloaded yet

Student Debt and Its Implications - Essay Example

Comments (0) Cite this document
This paper "Student Debt and Its Implications" focuses on costs associated with the college education that surpassed inflation by six percentage points yearly. This brought private school education price to thirty-seven dollars annually. This just one reason why students increased their borrowing. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.3% of users find it useful
Student Debt and Its Implications
Read TextPreview

Extract of sample "Student Debt and Its Implications"

Download file to see previous pages Many students engaged in borrowing as well as in huge sums of money. During graduation, the average debt in 2008 rose by six percent in the following year heating $24,000. In the year 2008, there was the highest number of defaulters in federal loan repayment in over a decade. This was when the nation’s economy slid into recession. Partly driven by the slow economy, federal loan defaulters are increasing.
If a student fails to make payments for 270 days, it becomes a matter of increasing significance to both community colleges as well as the students. Loan default brings about severe consequences to the borrowers as well as colleges. When one misses some payments he/she could be demanded to play through calls and letters. However, defaulting can destroy a student’s future. Federal agents will demand that a defaulter pays the loan in full. In addition, the case may be assigned to some collection agency. A defaulter’s wages, as well as benefits, could be garnished till the balance (that may not be easy to discharge in bankruptcy) gets resolved. This may apply even to old age social security benefits being garnished (Clark, 499).
Loan defaults for borrowers could wreck their credit, create the inability to buy a home or car, finding employment or even renting a home. Colleges, where only a few students get to borrow, have special protections, however, colleges could result to being not eligible to federal loans as well as grants where most of the colleges’ former borrowers default within a given period of 3 years’ time for entering payment (Bryce, Matthew and Debbie, 1).
With federal loans as well as the grand plus loans, it is at a time when this loan is twenty-one to thirty days late that the loan can go to delinquency but the national credit bureaus may be informed when a loan is 60 days late. However, the program of federal loans provides a number of plans to that held defaulters.
But one has to negotiate with their lender in the case for private loans which involve agreement terms of the loan as well as options for payment.   ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Student Debt and Its Implications Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Student Debt and Its Implications Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from
(Student Debt and Its Implications Essay Example | Topics and Well Written Essays - 1000 Words)
Student Debt and Its Implications Essay Example | Topics and Well Written Essays - 1000 Words.
“Student Debt and Its Implications Essay Example | Topics and Well Written Essays - 1000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Student Debt and Its Implications

Scientific Breakthrough and Its Implications

...Scientific Breakthrough and Its Implications Introduction: Scientists and engineers across the world are known to make new breakthroughs and discoveries for the ultimate benefit of the world, for making the lives of the general masses of people more comfortable and easier. For this purpose different scientists and engineers can be found to continuously put their tremendous efforts and practice to come up with solutions to the different problems that individuals face in their day-to-day lives. Such activities might take long periods of time that such scientists or engineers devote to their work and hence bring out effective outcomes resulting from their hard work, dedication and commitment. One such...
11 Pages(2750 words)Research Paper

Student debt and bondage

... students secure loan because they cannot afford it. This is also aggravated by the length of term of loans and the additional consolidation and refinancing that occur in the span of amortization. The author is of the opinion that this phenomenon defeats the purpose of education, especially the kind that the United States has. There is an implication that the American higher educational system is supposedly the ideal model because it is decentralized, has liberal admission requirements, low tuition and subject to freedom of expression. He supported this by citing that the higher education has opened to an expanding body of students. The author then proceeded on explaining how the growth of student debt is analogous to the creation... ?On...
4 Pages(1000 words)Coursework

Treaty of lisbon and its implications

...? The treaty of Lisbon and its implications Introduction In past five decades, from being a mere six-member body, the European Union (EU) has substantially expanded to represent its current form, which constitutes a 27-member organisation. This rapid increase in number of states joining the Union is attributed to various reasons that range from economic to security reasons, while some experts have presented varying standardised reports that try to account for the fast increase in number of EU member states.1 In order to increase the level of trust, cooperation and mutual understanding, within member-states, various treaties have been framed over the years for acquiring benefits within...
18 Pages(4500 words)Dissertation

A Survey of Student Debt

...? A SURVEY DEBT By Lecturer: of Affiliation: and A Survey Debt Introduction The number of students currently holding student debt is increasing tremendously in many higher learning institutions across the globe. The debtors are concentrated in the younger segment of the population; thus more than 60 percent of the total loans are given to students between ages of 18 to 35.Therefore, the student loan debts has become the norm for many families and young people seeking higher education. This is because the significant of the college graduate degrees, which continues to grow significantly as the tuition fee,...
6 Pages(1500 words)Essay

Student Loan Debt Crisis

...Loan Debt Crisis Introduction America is currently in the midst of a tremendous economic crisis, with inflation reaching unprecedented and unanticipated levels.(Wikipedia, the free encyclopedia, 2010) This has resulted in a tremendous rise in the cost of living which has made living a challenge to the general public and to the student population in particular as they have limited resources at their disposal. The students, those who are pursuing higher education in colleges and universities outside their home town in particular have to bear the costs of college fees, accommodation, living expenses and other courseware related costs. (Deshmukh, 2010) Due to less employment opportunities...
11 Pages(2750 words)Research Paper

The Problem of University Student Debt in the UK

...the government should pay or should not pay for all students. Although student debt cuts across all levels of education, the main issue in this report will be dealing with university student debt. 2.0 Executive summary The research paper discusses about the problem of university student debt in UK. It specifically provides an analysis of the current debate on whether the government should or should not pay for all students especially in Higher education. It shows the current implications of the problem especially effects on the UK's education system. It will also concentrate on the...
15 Pages(3750 words)Essay


...will be forced to open another warfront in Iran in order to prevent Iran acquiring the nuclear power. Any such moves will again put American economy in jeopardy. It is difficult for America to conduct wars in three different regions at the same time. Immediate stoppage of wars is the only possible solution in front of the Americans to reduce their debt and to recover their economy. India and China like countries are concentrating mainly on their economic developments and many experts believe that China and India may overcome America’s economy in near future itself. It is not desirable to America’s interests. In short, America is undergoing an acid test currently because of the recession and the war on terror....
2 Pages(500 words)Essay

Antarctic sea ice melt and its implications

...ANTARCTICA SEA ICE MELT AND ITS IMPLICATIONS Introduction In the polar oceans of the Antarctic at the south pole and the Arctic region in the north pole, the sea water freezes forming sea ice. This floats on water while it is concurrently anchored to the sea bed. The growth of sea ice, its melt and consequent deformation are an “important, interactive component of the global climate system” (Solomon 2007: 250). This is because it forms the basis for the powerful ice-albedo feedback mechanism that enhances climate response at high latitudes; it influences the exchange of heat, gases and thrust between the atmosphere and polar oceans; and changes the force of ocean buoyancy by...
12 Pages(3000 words)Essay

Student debt management and student budgeting

...Counselor Tracy Grey Debt Management Online Sources Recommendation Canadian students owe an estimated 22 billion Canadian dollars with roughly 15 billion dollars coming from federal resources. Provincial and private money lending sources account for the rest of the loaned money (Debt 101, 2012). The last decade has seen the worst escalation in student debt in Canada with minimal student debt loads of $25,000 increasing from 17% in 1995 to 27% in 2005 (Seidman, 2012). In a similar manner, average student debt in Canada increased from $21,777 in 1999 to more than $28,000 in 2004. This...
2 Pages(500 words)Research Paper

Fiscal Policy and Its Implications in Belgium

...Fiscal Policy and Its Implications in Belgium Introduction A fiscal policy implies the spending of the that influences microeconomic activities of the nation. Through fiscal policy, the economy is controlled with regulatory attempts of improving unemployment rates, control inflation, stabilized business cycles and influence interest rates. The government uses this policy in affecting the economy. When a state experiences recession, the government might lower tax rates to fuel economic growth. If the people pay their taxes, they have the money to spend or invest and with increased consumer spending, an improvement of economic growth is experienced (Moller 49). The government may also choose to increase...
2 Pages(500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Student Debt and Its Implications for FREE!

Contact Us