Student Loans Burden Students

By Madison Marques, Staff Writer

College is approaching for high school seniors, and with it comes the stress of taking steps towards the future. Most students believe that taking out student loans is a viable option to combatting the growing tuition prices in the United States, but many do not realize that this decision could haunt them for years after college.

Students take out loans in the hopes of funding an education that will allow the loans to be paid back easily by a future career, but this is often not the case. It would be reasonable to believe the benefits outweigh the cost of the loan, but excessive student loans are actually a detriment to a student’s future. The overwhelming interest of the loans can create a burden to students after they receive their degrees and hinder them from buying homes or pursuing careers requiring more education.

Although life with student loans after college can be difficult, sometimes even graduating becomes unattainable. Griffin states that 85 percent of students work to keep up with the cost of tuition. The amount of time spent away from studying to work and pay off loans can practically contradict the point of the loan.

This is not only damaging to the students’ future, but also is taking its toll on the economy as a whole. The housing market is being affected by the decline, as 16 percent of people ages 25 to 35 needed to live with their parent, stated Griffin stated.

With loans being such a risk, alternatives such as scholarships and financial aid should be considered before applying for a loan. The U.S. Department of Education includes Federal Student Aid, which provides grants and other options to those who fit the criteria for financial need. Scholarships are another option for students and include athletic, academic, community service and creative scholarships as well as some for minorities and women. Some of these organizations include The American Association of University Women, which offers various scholarships to promote women’s education, and Scholarship America, which covers various types of aid opportunities.

The student loan crisis conveys the dangers of taking on these excessive costs to future students and shows that the burden of loans can outweigh the benefits they provide.

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