Reasons to Eliminate Student Loans

Introduction.

The total amount of student college loan debt has been on the rise in the recent past. In every research done in America, it seems that the statistics on student loan debts are worse than the last. In the US today, attaining a college degree is the most fundamental qualification for getting a skilled job employment opportunity. The present young generation wants white-collar jobs because they attract higher pay.

Employers expect job candidates to have a primary qualification of at least a Bachelor’s degree for any entry into the job market, but the cost of tuition has continued to rise. To achieve their childhood, family and society expectations, many students have resulted in applying for student loans. A student loan is a very intricate issue in the current economy. There are many players involved in increasing student loans (Mason 39).

Why Student Debts Should Be Eliminated?

These players encourage students to go to college and get a loan then end up with significant loans to buyback. Private players, state government and federal government are always on campaigns encouraging students to pursue education because it is the only way to get well-paying jobs. The federal government promises student loans that attract lower interests compared to private or bank loans. However, many students still find it hard when it comes to repaying these loans. The federal government offers four types of loans.

The federal direct loan forms the largest student loan program in America. Under this program, the U.S. Department of Education functions as the financier. In this program, students are given direct subsidized loans, direct unsubsidized loans, and direct plus loans or direct consolidation loans. Each of these loan packages promises students to aid them to complete their higher education (Gradeless 56).

In the past, a college education was affordable to many, and it was a guarantee for a higher standard of living. Today, going to college and being guaranteed a high standard of living is a daydream to many. In the current economic downturn, many Americans are finding themselves laid off, and the need to go back to school intensifies. Many do this with the aim of remaining relevant in the 21st-century job market. As more and more Americans are joining higher education programs, and are succeeding in getting financial aid, the already under-serving economic aid system is further stained. The decline in support for higher education has been felt both at the state and federal level. Every year, many students fight tooth and nail on both federal and state levels to ensure that the government commits more funds to support higher education (United States Student Association Education).

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Many of the elected officials always promise to invest in education during their campaign trail. However, they maintain silence when education budgets get slashed resulting in tuition fees skyrocketing and financial aid decreasing. Since the early 1980s, tuition fees in many colleges have increased by over 500%. A project aimed at determining the student debt in America showed that the average college senior who graduated in 2010 had $25,000 as an outstanding loan.

This has resulted in loan debt for the student to stand at $1 trillion. The gap between tuition fees and the total amount available has worsened the situation felt by many students. It has made the current students become indebted. Additionally, the current generation of students has been left jobless after graduation something that makes many students unable to pay their loans (Gradeless 21).

The number of Americans who want to attain a college degree is getting higher and higher every year. According to the National Panel Report, approximately 75% of students currently in high school reported that they would like to join college after graduating from high school. Those from a humble background said that they would go to the extent of getting a loan from any agency to get through college. Additionally, adults who mostly get laid off reported that they would like to go back to school to get a degree so as to continue their professional development.

Policymakers, employers and families’ put pressure on students and breadwinners to get into college because it is an unavoidable choice that will enable them to survive in the current society. This is regardless of the high cost of college fees as students are promised loans, which they end up paying dearly. Most students end up depending on some forms of financial aid. Realistically, getting a scholarship in the U.S. today is very challenging, because of increased competition.

As an alternative, most students turn to student loans as an easier way to get the necessary tuition. What many students do not realize is that most students forget that financial aid is indeed a loan. This means that this money earns interest and must be returned. Approximately, 20 million American students attend college every year. Out of the 20 million students, around 12 million, which is approximately 60%, borrow every year to help cover their college fees (Scott).

The Federal Reserve Board of New York reported that the outstanding student loan borrowers stood at 37 million. In 2012, students who took loans under the age 30 were 14 million, those aged 30-39 were 10.6 million, 5.7 million were aged 40-49, 4.6 million were aged 50-59 and, finally, those aged above 60 were 2.2 million. As a result of huge student loan debts, many American families continue to face a lot of stress. The cost of daily living has increased, yet many students who have benefited from either private or federal loans cannot maintain comfortable lifestyles (Collinge 76).

Today two-thirds of students graduating from American universities and colleges have substantial amounts of debts. Institute for College Access (TICAS) reports that an average student borrower in the US graduates with an approximately $26,000 loan debt. On the extreme, there have been reports that some students have graduated with crippling debts of $100,000 or even more. What is astonishing is that this is just a case of only 1% of graduates, because the majority of graduates accumulate more than $40,000.

This is a negative game for both the students and the economy. Student loan debt has been ranked second after mortgages. The question that many begs to ask are whether financial aid to the student should help students or should it enrich some people. The federal debt stands at $16.7 trillion while student loan contributes to 6% of this debt. Although the government has tried to bring into force some laws such as the Student Loan Fairness Act, loan debt for many students remains high (Mason 67).

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Free Persuasive Essay Examples from Elite Essay Writers

Wealth results what a person owns minus all liabilities, yet the amount of wealth in many families that have taken student loans continues to decline. One of the considerations that every student is made aware of is that he or she should start paying on the agreed date. In the minds of many students, they see themselves getting employed immediately after graduating. However, the bitter truth is that the majority remain unemployed. Therefore, many concerns come forward with respect to a college education.

One of these issues is whether a college education is even affordable. The most significant problem that faces many graduate and their families are the intricacies of paying the ever-rising tuition fees. In an effort to come up with a solution to this threat, the federal government has come up with various actions to control the rapidly rising higher education cost and loan debt. The united president is not of the idea that colleges and universities should lower their tuition fees. Instead, the president wants to raise higher education funds mostly through federal loan programs. This is not well-timed as the current student loan debt stands at over $1 trillion (Gradeless 23).

Whether a student in the U.S. may be seeking to reside “in-state” or go out, the current college fee is still high and private firms, banks, State and federal governments continue to give loans. To attend a four-year college degree, it will cost a student approximately $9,000 for ‘in-state’ residents. The amount for non-residents needs to pay is approximately $27,000. Although the financial aid sounds to be a superior plan, it causes college students who take these loans to pay back the amount in their later life and even have a large sum of debt.

According to USSA, student debt has continued to grow throughout the Great Recession in the year 2012. Student loan debt now averages approximately $27,000 for every student who is graduating currently in America. Additionally, as student loan defaults and student debt continue to escalate; private student loan lenders continue to increase their profit margins such as Sallie Mae, which tops the list of student loan lenders (United States Student Association Education).

Loan debt has even penetrated community colleges. In the year 2008, 38% of students graduating from community colleges had debts. The Student Loan Fairness Act lowered loan rates from 6.8% to 3.8%. However, working with an average loan debt of $26,600 and compounding for interest year over year using the 10-year payback plan, a total cost of $26,600 loan will be $38,600. If this is broken down to monthly payments, $320 will go towards student loan repayment and continue making students' life after graduating very hard (H.R.1330-Student Loan Fairness Act).

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Student Loan Debt Essays

Student loan debt essay topics and outline examples, essay title 1: the impact of student loan debt on higher education.

Thesis Statement: The growing burden of student loan debt has far-reaching consequences, affecting not only individual borrowers but also the accessibility and affordability of higher education in the United States.

  • Introduction
  • Rising Student Loan Debt Levels
  • Barriers to Accessing Higher Education
  • The Impact on Career Choices and Financial Stability
  • Potential Solutions and Policy Reforms

Essay Title 2: The Psychological and Emotional Toll of Student Loan Debt

Thesis Statement: Student loan debt can take a severe psychological and emotional toll on borrowers, affecting their mental health, relationships, and overall well-being.

  • The Stress and Anxiety Associated with Debt
  • Impact on Personal Relationships and Life Choices
  • Strategies for Coping with Student Loan Debt Stress
  • The Need for Mental Health Support

Essay Title 3: Exploring Solutions to the Student Loan Debt Crisis

Thesis Statement: Addressing the student loan debt crisis requires a multifaceted approach, including policy reforms, financial literacy education, and innovative repayment options, to provide relief for borrowers and future generations.

  • Policies Aimed at Reducing Student Loan Debt
  • Empowering Borrowers Through Financial Education
  • Innovative Repayment Plans and Loan Forgiveness Programs
  • Ensuring Affordability and Accessibility of Higher Education

10 Student Loan Debt Essay Topics

Exploring solutions to the student loan debt crisis is crucial for mitigating the financial burden on graduates and ensuring access to higher education. The following essay topics delve into various facets of this issue, presenting opportunities for problem-solution exploration:

  • The Role of Federal Policy in Mitigating Student Loan Debt
  • Innovative Repayment Plans.
  • Private Sector Solutions for Student Loan Debt
  • Educational Reform for Affordable Tuition
  • Financial Literacy and Student Loan Debt
  • Community and Technical Colleges as a Solution to High Student Loan Debt
  • The Impact of Scholarship Expansion on Student Loan Debt
  • Bankruptcy Law Reforms to Address Student Loan Debt
  • Public Service Loan Forgiveness Program Enhancements
  • Technology-Based Solutions for Student Loan Management

Student loan debt in the United States has reached unprecedented levels, with millions of Americans grappling with the financial and emotional strain of repaying their education loans. This crisis not only hampers individual financial growth but also has broader economic implications, restricting consumer spending and contributing to wealth inequality.

Problem-solution essays on student loan debt offer a platform to investigate the roots of this issue and propose innovative solutions. From federal policy reforms to grassroots financial literacy programs, these essays explore multifaceted approaches to alleviate the student loan debt burden. By examining successful case studies and drawing on expert analyses, students can present comprehensive strategies that address both the immediate challenges of loan repayment and the systemic issues of higher education financing. Through such discourse, we can begin to envision a future where higher education is accessible and affordable for all, free from the shackles of debilitating debt. For those looking for problem solution essay examples offered free , ample resources are available to guide and inspire comprehensive solutions.

Student Loan Debt: Challenges and Solutions

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The Issue of African American College Students Loan Debt

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Student loan debt refers to the financial obligation incurred by individuals who borrow funds specifically for educational purposes. It is a type of debt that students accumulate to cover the costs of tuition, fees, books, and living expenses during their pursuit of higher education. Student loan debt typically consists of borrowed money from government-based programs or private lending institutions, which students must repay over a specified period of time, often with interest.

Student loan debt in the United States has reached staggering levels and has become a pressing issue in today's society. As of recent data, the total student loan debt in the US exceeds trillions of dollars, making it one of the largest sources of debt for Americans. Many factors contribute to the current state of student loan debt, including rising tuition costs, limited access to grants and scholarships, and the increasing number of students pursuing higher education. The burden of student loan debt has far-reaching consequences for individuals and the economy as a whole. Many borrowers struggle to make timely repayments, leading to financial strain, delayed milestones such as homeownership or starting a family, and limited career choices. The ripple effects extend to the broader economy, affecting consumer spending, saving rates, and overall economic growth. Efforts to address the student loan debt crisis are underway, including income-driven repayment plans, loan forgiveness programs, and increased financial literacy initiatives. However, the magnitude of the problem necessitates further attention and comprehensive solutions to ensure that higher education remains accessible and affordable while mitigating the long-term impact of student loan debt on individuals and society.

Student loan debt has a significant historical context that spans several decades. The roots of the issue can be traced back to the mid-20th century when higher education became increasingly expensive, leading to a surge in the need for student loans. In the United States, the establishment of the Federal Student Aid program in the 1960s aimed to provide financial assistance to students pursuing higher education. However, the situation evolved over time, and the accumulation of student loan debt became a pressing concern. During the 1980s and 1990s, tuition fees continued to rise, and the availability of federal grants decreased. As a result, students increasingly relied on loans to finance their education. The early 2000s witnessed a further expansion of the student loan market, with private lenders entering the scene alongside the government-backed loans. This expansion brought about changes in lending practices and the increasing burden of debt on students.

The influence of student loan debt extends beyond the individual level and has a profound impact on various aspects of society. Firstly, it affects the financial well-being of borrowers, often causing stress, limited financial freedom, and delayed milestones such as homeownership or retirement savings. The burden of debt can also impact mental health, creating anxiety and depression among borrowers. On a broader scale, student loan debt influences the economy. High levels of debt can hinder consumer spending and savings rates, affecting economic growth. Graduates burdened with student loans may delay or forego major life decisions, such as starting a business or pursuing advanced degrees, which can impede innovation and entrepreneurial activities. Moreover, student loan debt exacerbates social and economic inequalities. Those from disadvantaged backgrounds may face additional challenges in accessing higher education due to financial constraints, widening the opportunity gap. The burden of debt can also perpetuate intergenerational poverty, as individuals struggle to accumulate wealth and provide for future generations.

Public opinion on student loan debt is multifaceted and varies among individuals. However, there are some common themes that emerge. Many people acknowledge the growing concern surrounding student loan debt and the challenges it poses for borrowers. There is a general recognition that the rising cost of education and the increasing reliance on loans have created a significant burden for students and graduates. Public opinion is often divided on the responsibility of borrowers versus the role of educational institutions and the government. Some argue that borrowers should take personal responsibility for their loans, while others believe that the education system and policymakers should be held accountable for the affordability and accessibility of higher education. There is growing support for measures aimed at addressing student loan debt, such as loan forgiveness programs, income-based repayment plans, and efforts to lower interest rates. Many individuals believe that these initiatives can provide relief to borrowers and alleviate the financial stress associated with student loans.

1. As of 2021, the total student loan debt in the United States exceeds $1.7 trillion, making it the second-largest consumer debt category after mortgages. 2. Approximately 45 million Americans carry student loan debt, with an average debt per borrower of around $38,000. 3. The average monthly student loan payment for borrowers aged 20 to 30 is $393, which can significantly impact their financial stability and ability to save or invest. 4. Student loan debt is not only prevalent among recent graduates. Around 14% of borrowers are over the age of 50, often carrying debt from their own education or supporting their children's education. 5. Student loan default rates remain a concern. As of 2021, the federal student loan default rate was around 9%, indicating the financial challenges faced by some borrowers. 6. High levels of student loan debt can hinder homeownership rates. Studies suggest that the burden of student loans can delay or deter individuals from purchasing homes, impacting the housing market. 7. Certain professions, such as doctors and lawyers, often accumulate substantial student loan debt due to the extended education required for their careers.

The topic of student loan debt is of paramount importance as it addresses a pressing financial and societal issue that affects millions of individuals in the United States. Writing an essay on student loan debt allows us to delve into the multifaceted consequences it poses on borrowers and the broader economy. The staggering amount of outstanding debt, coupled with rising tuition costs, presents a significant barrier to accessing higher education and achieving economic mobility. Furthermore, the burden of student loan debt impacts borrowers' financial well-being, hindering their ability to save, invest, and contribute to the economy. Exploring the public's opinion, representation in media, and potential policy solutions can provide valuable insights into the urgency of addressing this crisis. By discussing student loan debt, we foster a deeper understanding of the challenges faced by borrowers and encourage dialogues that may lead to effective measures for easing this financial strain and supporting the pursuit of education.

1. Akers, B., & Chingos, M. M. (2014). Is a student loan crisis on the horizon? The Brookings Institution. https://www.brookings.edu/research/is-a-student-loan-crisis-on-the-horizon/ 2. Baum, S., & O'Malley, M. (2003). College on credit: How borrowers perceive their education debt. The College Board. https://files.eric.ed.gov/fulltext/ED494509.pdf 3. Dynarski, S. M. (2014). Building the stock of college-educated labor. Journal of Labor Economics, 32(1), 1-26. https://doi.org/10.1086/674012 4. Houle, J. N. (2014). Disparities in debt: Parents' socioeconomic resources and young adult student loan debt. Sociology of Education, 87(1), 53-69. https://doi.org/10.1177/0038040713514014 5. Jackson, K. M. (2018). The impact of student loan debt on job satisfaction outcomes. Journal of Student Financial Aid, 48(1), 29-52. https://doi.org/10.4148/2572-456X.1018 6. Litten, L. H., & Ackerman, D. B. (2019). A comprehensive approach to student loan debt counseling. Journal of Financial Counseling and Planning, 30(1), 43-57. https://doi.org/10.1891/1052-3073.30.1.43 7. Looney, A., & Yannelis, C. (2015). A crisis in student loans? How changes in the characteristics of borrowers and in the institutions they attended contributed to rising loan defaults. Brookings Papers on Economic Activity, 2015(1), 1-89. https://doi.org/10.1353/eca.2015.0001 8. Lusardi, A., Schneider, D. J., & Tufano, P. (2011). Financially fragile households: Evidence and implications. Brookings Papers on Economic Activity, 2011(2), 83-134. https://doi.org/10.1353/eca.2011.0016 9. Scott-Clayton, J. (2019). The looming student loan default crisis is worse than we thought. Brookings Institution. https://www.brookings.edu/research/the-looming-student-loan-default-crisis-is-worse-than-we-thought/ 10. Zafar, B. (2013). Borrowing constraints and the returns to schooling. Annual Review of Economics, 5(1), 347-365. https://doi.org/10.1146/annurev-economics-072412-133425

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student loan myth persuasive essay

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Top 5 Student Loan Myths

7 Min Read | Apr 21, 2023

Kristina  Ellis

Listen, there are a whole bunch of myths about student loans that we need to take a second to debunk right now. It’s time to call the student loan industry out on its lies so you can have a healthy financial future. I’m sick and tired of seeing students losing their freedom, stability and peace of mind to one of the biggest lies in our culture today—that you have to take out student loans to go to college. It’s simply not true.

So, let’s get right to it.

Myth #1: You can count on student loan forgiveness.

When you’re trying to figure out how to pay for college, this is how a typical thought process might go:  I’m desperate. I need to take out loans to go to school because that’s the only way I’ll be able to afford it. But it’s cool—I can get them forgiven later.

I hate to break it to you, but it’s not that simple. Any time you have to rely on the government for anything, prepare to be disappointed (or at least super confused).

Even if  President Biden’s forgiveness plan  goes through (which isn't looking likely right now), it will only cancel a portion of federal student loan debt for certain borrowers. But while that may offer some relief, it definitely doesn’t solve the problem for most. What about people who owe more than $10,000 in loans? What about those who have private student loans? Forgiveness like this is not something you can count on happening multiple times—let alone once.

And the traditional route of applying for student loan forgiveness  is a pretty sketchy system too, considering the fact that there are a ton of fine-print requirements that are constantly changing. Way too many people work in low-paying public service jobs for up to 10 years—because they were told that’s how they could get their loans forgiven—only to find out they don’t qualify after all and wasted a whole bunch of time. People have even been granted forgiveness, only to get denial letters after the fact. And the only way they could finally get their loans forgiven was by suing the U.S. Department of Education. 1  That’s pretty shady.

Keep in mind, the lenders aren’t really interested in helping you with your student loan debt out of the goodness of their hearts (wouldn’t that be nice?). If there’s money in it for them, they’re going to try to find a way to keep you stuck in that system—and that involves changing the requirements for forgiveness on a whim.

So, if you’re trying to figure out how to pay for school, a better mindset would be,  Okay. College is freaking expensive. How can I find a way to  pay for it without student loans  so I won’t be in debt for the rest of my life?  The student loan industry wants you to believe it’s impossible, but I promise you, it’s not.

Myth #2: Income-driven repayment is a good idea.

First, let’s talk about what an income-driven repayment plan actually is: a plan that bases your monthly payment amount on your income and family size. It’s marketed as an easier, more convenient alternative to a standard repayment plan, but really, it’s just a way to keep you in debt longer.

Let me tell you why. There are a few different income-driven plans out there—all requiring a monthly payment of about 10–20% of your discretionary income (that’s income after taxes are taken out). Most repayment periods for income-driven repayment plans are 20–25 years.

Do you want to spend 20 years of your life giving 10–20% of your income to the government every month while they’re making money off the ridiculous amount of interest you have to pay? Heck no.

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Ready to get rid of your student loans once and for all? Get our guide.

No matter what kind of repayment plan you have, your student loans are still debt, and you need to find ways to get intense and pay them off ASAP. Plus, just like student loan forgiveness, there are all kinds of shady requirements and loopholes for these plans that you can read about on the Federal Student Aid site. But save yourself the time and energy, and instead put that energy into  paying off your student loans quickly .

Myth #3: Deferring payments will make my life easier.

Student loan deferment is what happens when you temporarily don’t have to make payments, but you may or may not still be responsible for interest, depending on the type of loan(s) you have. But it’s not available to everyone. There are only a few different ways to possibly qualify for deferment, including if you’re on active-duty military service, serving in the Peace Corps, or on welfare.

But even if your request is granted, the loan doesn’t go away. Deferment is basically saying you’ll deal with it later. That could end up hurting you more in the long run, especially if you still have to pay interest.

Myth #4: Always consolidate or refinance student loans.

If you took out multiple student loans, you might’ve heard that consolidating or refinancing are ways to get more manageable payments. They’re similar concepts, but they have a few key differences.

Student loan consolidation is the process of taking all your different loan payments and turning them into one big payment. It also takes the weighted average of your interest rates on your loans and rolls them into one. But only federal loans can be consolidated for free through the government.

Consolidating your federal student loans can be helpful if you’re juggling multiple loans, especially if they have variable interest rates. Having to keep up with only one fixed monthly payment is nice. But you might be better off tackling your smaller loans one at a time, rather than lumping them all together into one massive loan. And consolidating doesn’t give you a lower interest rate—so it’s more a matter of motivation than saving money.

Student loan refinancing is different from consolidation in that it deals with private loans—or a combination of federal and private loans—and you have to find a private lender or company to do this for you. They will then pay off your current loans and become your new lender. And at that point, you’ll have a new rate and new repayment terms.

But only refinance if:

  • It’s 100% free to refinance. 
  • You can get a lower interest rate.
  • You can keep a fixed rate or trade your variable rate for a fixed rate. 
  • You don’t have to sign up for a longer repayment period. 
  • You don’t need a cosigner. 
  • You haven’t recently declared bankruptcy. 
  • It will actually motivate you to pay off your student loans faster. 

And remember: When you already have student loan debt, you shouldn’t be asking,  How can I get more manageable payments?  You need to ask,  How can I destroy this debt as fast as possible?

Myth #5: Student loans are forever.

Y’all, I get so sad when I hear young people talking about how they believe they’ll be paying off their student loans until the day they die. It doesn’t have to be that way.

I’ll be real with you—there’s no quick and easy fix to your student loan problem. At the end of the day, you chose to borrow the money, and you agreed to pay it back. But you have the power to take control of your money situation. You’ll have to work hard, change your lifestyle, and say no to stuff when you don’t want to, but you can attack this debt and get it paid off way faster than you could on any repayment plan.

If you’re ready to say goodbye to student loan payments, check out my course— The Ultimate Guide to Getting Rid of Student Loan Debt . I walk you through everything you need to know about forgiveness, budgeting for your payment, and the surefire way to pay off your student loans fast .

You don’t have to live with your student loans forever. You have what it takes to ditch student loan debt for good !

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Kristina  Ellis

About the author

Kristina Ellis

Kristina Ellis is a bestselling author who believes no student should be burdened by loans. Drawing from her experience of earning over $500K in college scholarships, Kristina helps thousands of students graduate debt-free through her syndicated columns, podcast appearances, online courses and books. She’s a co-host of The Ramsey Show, the second-largest talk show in America, which reaches 18 million weekly listeners, and she appeared in the award-winning documentary Borrowed Future. Kristina has appeared on NBC News, Business Insider, Fox & Friends, USA Today and Yahoo!, where she’s shared practical, real-world strategies for going to college without debt. Learn More.

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IMAGES

  1. 4 Common Student Loan Myths Exposes

    student loan myth persuasive essay

  2. Assignment 2 Persuasive Letters

    student loan myth persuasive essay

  3. 50 Free Persuasive Essay Examples (+BEST Topics) ᐅ TemplateLab

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  4. personalfinance5.04

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  5. Aaron Harris

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  6. Tips on writing a persuasive essay

    student loan myth persuasive essay

COMMENTS

  1. Free Persuasive Essay about Student Debts

    This web page provides a free persuasive essay example on why student loans should be eliminated. It argues that student loans are a burden for many students and the economy, and that they should not be encouraged by the government or private players.

  2. The Myth Of The Student Loan Crisis

    There are at least 44.2 million American students who have to pay off their student loans. Chris Lewis and Layla Zaidane explain why Allan and Thompson from the article 'The Myth of the Student Loan Crisis' are wrong. Lewis, Chris and Layla explain in their essay, 'Here's Your Crisis: Student loan Debt Isn't a Myth' that, "six ...

  3. Student Loan Debt Essays

    The Issue of Student Loan Debt as a Primary Reason to The Rise of College Dropouts in The United States. The average student loan debt in the United States is $25,000. This is a large burden to have even for those that are able to land a high-paying job when they join the workforce after graduating college.

  4. Argumentative Essay: The Issue Of Student Loan Debt

    Persuasive Essay On Student Debt Crisis 1228 Words | 5 Pages. The student loan issues are causing huge problems on both students and society it seems clear enough that students are borrowing a lot of student debt, and they are failing on that debt and aren't capable of paying it back and that is destroying their ability and threatening their ability to access any more credit in the future.

  5. Student Loan Debt Isn't a Myth

    Only 1.2% of college students owe more than $150,000 in pupil mortgage debt (Allan). However, presents and economic aid have no longer stored up with the growing university expenses. As of 2016, the average debt of a student at college graduation is set $35,000 (Kantrowitz).

  6. Top 5 Student Loan Myths

    Myth #2: Income-driven repayment is a good idea. First, let's talk about what an income-driven repayment plan actually is: a plan that bases your monthly payment amount on your income and family size. It's marketed as an easier, more convenient alternative to a standard repayment plan, but really, it's just a way to keep you in debt longer.

  7. U5 The Student Loan Myth

    U5 The Student Loan Myth - Persuasive Writing Assignment Directions: Write a persuasive essay to someone who believes they must take out a student loan in order to attend college. Remember that a persuasive essay attempts to convince someone that your point of view is valid. In your essay, be sure to discuss both sides of the position so you can effectively counter the opposing view.

  8. Persuasive Essay On Student Loans

    Persuasive Essay On Student Loans. 1185 Words5 Pages. Things that I have done to pay off my $20 000 student loan in one year. The credit score for many USA citizens has gone down. The reason is that there is an enlarging amount of student loan defaulters.Generally, people lack the know-how on how to handle their student loans.

  9. Persuasive Essay On Student Loans

    Decent Essays. 1030 Words. 5 Pages. Open Document. College students graduate with an average student loan debt of approximately $37000. Of course, that's not the whole story. Millions of college graduates have student loan debts ranging from $50,000 to over $200,000. With debt like that and sluggish economic growth, it's no wonder that more ...

  10. Student Loan Myth Essay Outline by Pendragon's Pocket

    This persuasive essay outline blends ELA standards with Personal Finance Literacy using Dave Ramsey's Foundations in Financial Peace curriculum. This resource is easily modified for other content areas, also. ... Student Loan Myth Essay Outline. View Preview. Previous Next; View Preview. Pendragon's Pocket. 24 Followers. Follow. Grade Levels. 9 ...

  11. Persuasive Essay On Student Loan Debt

    Persuasive Essay On Student Loan Debt. 1125 Words3 Pages. Employers consider a degree necessary for getting a job at their company. However, not many people can afford college. The solution is to take out loans, then college becomes affordable. These loans create a whole different issue, student loan debt. This can affect people their whole ...

  12. Persuasive Essay On Student Loans

    The interest rate starts at 4.29% for undergrads and 5.84% for grad/professional students and you can borrow annually anywhere from $5,500 to $7,500 depending if you're a freshman to senior in college. There are also unsubsidized Stafford loans which have the same interest rate and …show more content….

  13. 504-choice-2

    5.04 C HOICE T WO: T HE S TUDENT L OAN M YTH Write a persuasive, 5 paragraph essay to someone who believes they must take out a student loan in order to attend college. Each paragraph should be a minimum of five sentences. Carefully proofread your essay for spelling, punctuation, and grammar. Paragraph 1 - Clear statement of your position in the topic sentence.

  14. Student Loan Myth Persuasive Essay

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