StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Student debt and bondage - Coursework Example

Comments (0) Cite this document
Summary
On Student Debt and Bondage This paper is a reaction to an article written by Jeffrey Williams entitled Academic Freedom and Indentured Students. Fundamentally, the article is a commentary on the education system in America that emerged in recent decades wherein majority of American students graduate with substantial debt…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.2% of users find it useful
Student debt and bondage
Read TextPreview

Extract of sample "Student debt and bondage"

Download file to see previous pages The increase is attributed to the high cost of education and that more and more 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 of a system of bondage and indentured servitude not unlike the system that permeated during the colonial period, when slaves toiled for their freedom. He argued that this is the case, owing to several important points. First, the sheer number of indebted students (two-thirds of the college student population) would mean that majority of the new generation would be tied to paying off their debts, sacrificing their desires and opportunities to better their lives in the process. The prevalence typifies the old bondage regime. However valid or reasonable the reasons given by Williams on the issue on student debt, I would have to say that calling it bondage or tantamount to slavery is not fair, or, at least, premature considering the reasons that he was able to provide. Academic institutions in the US operate within the capitalistic system and that they are able to provide high quality of instruction because of their capability to do so. Criticizing the manner by which students were made to work longer hours for their tuition fees is a legitimate position. However, the option to get a loan is their choice. They are aware of the terms and this does not involve bad faith on the part of academic institutions. It is not like they were coerced to get a loan or the school unilaterally modified the loan in the middle of the term for its own benefit. Students have numerous options available to them. For instance, if they cannot afford it or that they think they would not be able to bear the work that comes with the education they want, then, they could go elsewhere where the tuition is cheaper. Or that if they do not want to invest time and effort for education they could simply opt out of college. It is not right to just dole out a scholarship as if it is a privilege just because of one’s status in life. It is not, hence, indentured servitude because the relationship is economically legitimate and involves freedom of choices. What Williams want is a case of socialism that would reward non-performance. It is a case of reverse class privilege. In the US, we thrive and excel in the merit-based value wherein individuals are responsible for their own fates. To get something that one did not earn is un-American. The government cannot subsidize higher education for all. In this case, schools provide the opportunity for individuals to better their lives and earn higher income in the future. By allowing students to avail of debts and work to pay for it, an option is offered to those who cannot afford the tuition fees. In this issue, I would ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Student debt and bondage Coursework Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1396432-economics
(Student Debt and Bondage Coursework Example | Topics and Well Written Essays - 1000 Words)
https://studentshare.org/macro-microeconomics/1396432-economics.
“Student Debt and Bondage Coursework Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/macro-microeconomics/1396432-economics.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Student debt and bondage

The International Debt Crisis

...Development Economics аnd internаtionаl debt crisis Introduction Debt is one of the most contentious аnd emotionаlly chаrged issues in the debаte аbout globаlizаtion аnd development. It hаs become more of а morаl crusаde thаn а question of globаl politicаl economy. It is аlso technicаlly complex, involving dynаmic interplаy of the weаk (debtors) аnd strong (creditors), under the influence of globаl аnd domestic mаcroeconomic аnd microeconomic forces, geopolitics, history, аnd governаnce systems аt home аnd аbroаd. It hаs generаted а series of intrаctаble problems with no eаsy solutions. Аccordingly, аlthough аll world leаders, including the Pope аnd Nelson Mаndelа, hаve cаlled for the eliminаtion of debt, techniciаns hаve not found...
15 Pages(3750 words)Coursework

S&T Debt Factors

The agreement contains a credit default contracts that include credit default swaps, default index contracts, credit default options, and credit default basket options. One can use these as part of the mechanism that is collateralized by debt obligations. The goal should be to establish a price for a given risk and controlling credit based on risk. The credit can be allowed by minimization of risk. Credit controllers should develop versatile tools that transfer risk away from a lender’s balance sheet.
d) With reference to the proposed debt counseling business, illustrate and explain exactly how you would organize the debt counseling operation, taking particular care to explain how and when you would receive payment for...
6 Pages(1500 words)Case Study

Australia's External Debt

...AUSTRALIAS EXTERNAL DEBT Introduction The issue of high foreign debt has been traditionally focused on the less developed countries which have been suffering from chronic fiscal and current account deficits. Typically imports in these countries exceeded exports as savings rates fell far short of the requirements to finance public and private investments. When these countries failed to pay their debts, such as those that happened during the 1997 Asian financial crisis, they were declared in default, it would necessitate drastic policy measures to be carried out to restore external equilibrium such as a currency devaluation. When these countries seek the help of the International Monetary Fund and other international funding agencies...
10 Pages(2500 words)Assignment

Legal Regulations of Exceptional Student Education in the United States

The PL 94-142 Education for all Handicapped Children Act (1975) or EHA is a piece of federal legislation that requires every State of the Union, with the exception of those states that do not provide free public education to children between 3 to 21 years of age; to provide free and appropriate public education for all the children in the age group of 3 to 21 years. Moreover, such education should be provided irrespective of physical disability or its gravity. This law is the first of its kind that ensures Free and Appropriates Public Education or FAPE for all the physically handicapped children in the US (Law and Exceptional Students).
The Individual Education Plan or IEP is an individualized education program for a disabled...
6 Pages(1500 words)Assignment

Essential Nursing Care: Student Care Plan

...NSG1ENC – ESSENTIAL NURSING CARE Care Plan Patient John Ryan Patient UR: _____ Ward: Bed No Constipation Assessment Data: Subjective: Last defecated 4 days ago. Expresses pain in the abdominal and anal area when seated on the toilet. Normally defecates every two days. Objective: Observed grimacing during attempts at defecation; stool brown, dry and small; Inspection of abdomen – slightly distended. Auscultation - bowel sounds heard in all quadrants. Palpation – tenderness and pain in lower (L) quadrant and firm mass felt in descending colon. Problem/Nursing Diagnosis: Constipation in relation to insufficient physical activity secondary to neurological impairment Planning: Goals : John will not be constipated Short term goal... –...
6 Pages(1500 words)Assignment

The National Debt

... The National Debt When President Obama was announcing the budget request FY201 on February 14, he projected that by the end of September 30, which marks the end of the FY2011, the U.S National debt would be $15.476 million! This is very alarming since this represented about 102.6 % of the gross domestic product (GDP) of the US. Considering the whole population, this represents about $ 49, 762.06 for every woman, man and child. The total population of the US is almost 311 million, but of this, children do not pay taxes, hence, the debt of every taxpayer was postulated to hit $ 139, 632.24. By July 26th 2011, the debt sat at $14.539 trillion, which represented a figure of approximately $130,020 for every tax payer ($46,621 for every citizen...
6 Pages(1500 words)Assignment

The U.S. National Debt

... The National Debt Introduction The U.S. National Debt can best be described as our collective bank account and is one of the major gauges of the country’s economic health. The ever-increasing Debt can be accurately described one of the biggest threats to the wealth and security of the nation. Currently at its highest point in history, if it is not quickly addressed and lowered substantially the Debt will result in the further lowering of the standard of living for all Americans due to a continued sustained economic stagnation. It’s not just an intangible number that doesn’t directly affect people. As is already the case, the rising Debt takes away monies form a range of governmental programs that help the most vulnerable...
9 Pages(2250 words)Coursework

Conduct Becoming of a Lansing Student

It serves as their main source of guidance during confusing times and a reference for any questions that they may have regarding conducting themselves as a student both during and after class hours.
The reason behind the codebook is simple. The university or college has to pick up where the parents left off in the discipline and safety concerns of the child. The parents entrusted their prized possession, their children to the school so the school is now tasked to ensure the safety and continued development of the child both as an individual and a student.
It is because of these aforementioned reasons that the students' best interest would be served by his adherence to the codebook. Once he becomes familiar with its conte...
7 Pages(1750 words)Assignment

Towards Solutions to the US Debt Crisis

The national debt became 32% of a gross domestic product after the First World War (Chantrill, 2014, Para 1).
The Great Depression then followed, where the then President decided to boost the national debt to 40% of the gross domestic product. He did this by using his way; the local governments also did the same thus improving the state debt by over 5% of the gross domestic product. In 1993, the domestic public debt was over 28%. The state, federal, and government debts all rose by seventy percent of the GDP (Chantrill, 2014, Para 2).

Unfortunately the United States into a new debt in the Second World War. In 1941, the gross domestic product was 45 percent; it rose up to 119 percent in 1946 probably at the end of t...
6 Pages(1500 words)Assignment

Reasons for Debt Crisis

... Reasons for Debt Crisis The ‘Moment of Truth report’ outlines the looming economic crisis that is bound to hit the American nation if certain policies are not changed. Debt is steadily increasing with most citizens unwilling to sacrifice their spending to guarantee sustainable growth of the country. This aspect jeopardizes the ability of future generations to acquire resources for their survival. Apart from this the report formulates proposals that could ensure change is implemented and appreciated by the American people. It calls for political unity and advocacy to come up with better ideas to change the current debt situation. Federal debt is one of the very few, but crucial reason that is leading to the looming fiscal crisis...
6 Pages(1500 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 Coursework on topic Student debt and bondage for FREE!

Contact Us