Debt As A Huge Stress Factor Among America s Society

Debt serves as a huge stress factor amongst many individuals within America’s society. Student loans have a tremendous impact on younger individual’s lives and can affect their futures as well. Many individuals are unable to live normal lives, and are rather trapped with debt serving as a burden on their shoulders. Student loans affect about thirty-seven percent of individuals in America. For many students financial aid or private loans are the only source of payments for a higher education. Student debt inhibits graduates from spending money on personal items and consumer goods. In order to diminish this, lenders should be required to forgive student loans if students are unable to repay their debt through no fault of their own.†¦show more content†¦Though, if individuals are financially unstable and are constantly burdened with debt, students are not able to perform these tasks. Unburdening these, will boost the economy tremendously and the tools needed to th rive will be present. Usually after six months of one’s graduation, students are required to repay federal and private loans with interest. Conversely, college tuition has greatly increased throughout recent decades. Written in the article â€Å"Student Loans,† â€Å"A report by the National Center for Public Policy and Higher Education notes that overall, college tuition and fees in the United States rose 439 percent between 1982 and 2007. This means graduates often find themselves saddled with enormous student loan debt they may not be able to repay.† Amongst younger generations, Student loan debts has only gotten worse over the past years. The only options available for students pursuing a higher education are to get a part-time job and pay for their education out of pocket. Yet even when financial aid is added, education debt is still a burden amongst many students and young graduates. In the following article â€Å"Student Loans† the author reported â€Å"In 2011, the average graduate contended with $24,000 in student loan debt. Youth unemployment hovered near 18 percent, and of the college graduates who did find employment, many found themselves ‘underemployed’.† This further examines, the excessive amount ofShow MoreRelatedThe Importance Of College Education1593 Words   |  7 Pagesadults socialize, be independant, and allows them to find themselfs. College graduates have been known to posses higher employment rates, and greater work benefits. Also, college can be a huge milestone in ones life. That being said, these are most likely the reasons why the majority of high school parents across America, choose to send their kids to college. College may also help students achieve a greater knowledge on their career path. 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