College Student Loans Friend Or Foe - 1991 Words

McDonald Steele English 1A 0252 10 April 2015 College Student Loans: Friend or Foe Many people are incurring massive amounts of debt that they will have no means to pay off. In turn they will be carrying this debt burden into the rest of their life. It will affect their ability to buy a house, start a business, save for retirement, and it will be a burden they carry into their marriage. Student loan debt is not only a problem for individuals, but is also beginning to have serious consequences for our nation’s economy. Some even question if pursuing a college education is still a good idea. A college education is still a good investment in your future. It will increase your chance for employment and increase your potential to earn a†¦show more content†¦Is it to provide an education only, or is its purpose also to provide social experiences, sporting events, parties, etc.? I think most people would agree the primary purpose of college is to prepare students for a career as well as success in life. Certainly there is great value in attending universi ty. The most obvious reasons are that college graduates have a greater earning potential throughout their lives than those who don’t. According to Danielle Kurtzleben of US News, â€Å"Among millennials ages 25 to 32, median annual earnings for full-time working college-degree holders are $17,500 greater than for those with high school diplomas only. That gap steadily widened for each successive generation in the latter half of the 20th century.† The earning gap between college graduates and high school graduates is expected to continue to grow in the coming decades. The second reason why attending college is beneficial is that the unemployment rate is lower for college graduates then for people who only have a high school diploma or have completed some college. Again Danielle Kurtzleben of US News makes the point that, People with college degrees have a far easier time finding a job than those without a degree. Among 25- to 32-year-olds with a college degree, the jobless rate as of March 2013 was 3.8 percent. At 8.1 percent, the rate was more than twice as high for those with a two-year degree or some