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Current Event FourteenStudent Debt Will Punish US for Years: Strategist
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Ce 14


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Ce 14

  1. 1. Current Event FourteenStudent Debt Will Punish US for Years: Strategist! I found an article that greatly is going to effect me in the upcoming years. This isabout the debt students rack up in college and the inability in many cases to pay it back.With the job market being what it is, the unemployment rates are high. Many people arepaying tons of money to further there education and are then unable to find work aftergraduation. So instead of making money and paying off their debts, they are just stuckwith it. There currently is $986 billion dollars in debt created by school loans. Manyeconomists are concerned with the ripple effect this debt will cause on the economy foryears to come.! The price of tuition has risen 26 percent since 2005. School also now are addingadditional fees for everything imaginable. This is requiring students to take out massamounts of larger loans. The way student loans are working is creating a catch-22 formany. This is increasing debt nationwide and leaving many is a rough position. Thecollege costs are requiring students to dig themselves into the hole their first day in thereal world and risk never being able to get back out of that hole.! This is something that will greatly effect me. I currently am dealing with thecollege process and am more than aware of how much this is all going to cost me. Theyalso slam you with fees for absolutely everything. My required freshman orientation costme $205. The application was $60. Then you have to put down an enrollment depositand housing deposit. Then file FAFSA. Then next take out loans for tuition and roomand board. Then you still have textbooks, supplies, and living expenses. This processhas just been one thing after the next.! I do worry about how much debt I will rack up in this next chapter of my life. To dowhat I want to do I need a PhD. Thatʼs a lot of schooling and a lot of money. I will bepaying off my school for what seems like forever. I am eager to start school! The billsthat come with it, not so much. I feel like I will be paying for this for the rest of my life.Tara Pawlyk Friday, May 17, 2013 9:47:27 AM ET 04:0c:ce:d3:10:88