Money is the only thing standing in the way of higher education for most people, and that includes me. My parents struggle to pay for me to stay in school at Cal State San Bernardino because of tuition, dorm, and books. The first trimester was difficult for my father, I saw him because he worked much more than before just to pay, but he would never admit that it was difficult. I felt bad because I wanted to help but didn't know how, so after the first term I joined the military so they could help me pay for college. My parents were quite hesitant at first, but they relented after I told them that this was what I wanted and that I didn't want to take out more loans than necessary. Now I deployed in Feb 2019 and enrolled at East LA college for the winter because it fits my schedule and it's cheap so by the time I go back to CSUSB I'll will have finished my English by the fall. U.S. state policies on student debt leave many families deciding between sending their students to college and taking on debt or forgoing college altogether, noting that this decision is a major concern among economically disadvantaged families. disadvantaged and from minorities. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay There are scholarships for minorities, but not everyone has the chance or opportunity, and the military is not for everyone. The problem plaguing higher education is money, and people are getting into too much debt to manage. This causes too much stress on people and is mentally unhealthy for the student and parents. In some cases, this will leave them with a lifetime debt that can never be repaid. There are solutions that could alleviate this problem, including government help and more aid, scholarships offered to more unheralded schools, and even the military is a good option for people. This never-ending student debt affects those in between. and people who choose specializations that are not in demand. The middle class is in a tough spot when it comes to receiving financial assistance. When they send in their FASFA, most of the time they receive nothing in return because most of the time they earn enough to be considered wealthy. But that doesn't take into account how much taxes the government takes in, and what's left over should go toward paying the mortgage and tuition. The only option for many families is to take out student loans and continue to accumulate that loan until graduation, when it is hoped that the crushing debt can be paid off. The poor receive enough help from the government that they can qualify for full relief and usually never have to pay a cent out of pocket. In “Ending Debt: Using Existing Resources to Ensure College Affordability for Low- and Middle-Income Families,” Education Trust states that “we must increase college completion, reduce college debt students and close the opportunity and achievement gaps that lock so many people in.” talented young Americans to live on the margins of our society.” This is a major problem because students continue to accumulate debt, but they don't complete their studies and waste all that money. Colleges must give students who do not complete their education reasons to complete their studies and help them instead of lettingchildren do not complete their studies. For example, if a student is pregnant and doesn't feel like she can juggle family and school, then the school could offer less challenging classes or offer programs and counseling. Matt Taibbi, author and journalist, shares a mutual sentiment. . In his article “Ripping away Young America: The College Loan Scandal,” he expresses his hatred and disgust toward modern America and how it “sucks the blood of its young people.” He finds that colleges and universities take advantage of low- and middle-income students. They tend to rely on federally backed loans, funding a “massive, ongoing government subsidy.” The sad truth is that Obama is at the helm of all this. After revamping the student loan industry, the government began lending money directly to students. This prevented the middleman from taking a cut. However, instead of getting rid of the middlemen, the government simply started taking over their efforts. Over the past decade, this fundamental path, and the market that enables it, has become fraught with risk and its future is far from certain. Since the start of the 2007 crash, a series of events, from the explosion in college tuition costs, have given the impression that the precipitous increase in student debt is reaching an inflection point, on the verge of a macroeconomic crisis. varied repercussions. From 2006 to 2016, according to the "Consumer Price Index maintained by the Bureau of Labor Statistics" where all this information is found, the cost of college was increased by 60% for education tuition. higher and 88% for higher education. books and 50 percent for school dormitories. Around the same time, from early 2007 to late 2017, student debt in the United States increased from $545 billion to $1.5 trillion. And that's why we've seen a range of effects on graduates' economic outcomes. These effects range from longer periods of parental co-residence and lower homeownership rates to additional constraints on young borrowers seeking credit cards, auto loans, and mortgages. Studies show that millennials are most affected by student debt due to rising tuition costs and the 2007 collapse. Due to the price of tuition, student debt has increased since 1993. 2016 students graduated with 6% more debt than college students. who completed in 2015 and 77% more than students who graduated ten years earlier. Student debt not only affects the student but also their family. This creates a barrier for the family going through financial difficulties if they cannot afford it and can even ruin the student's credit score. The article “Overcoming the Barriers Student Debt Presents to the Ability to Buy a Home” explains how difficult it is trying to qualify for home mortgage financing for college graduates who have defaulted on their college debt. In response to this situation, mortgage foreclosures due to the subprime mortgage crisis reached an all-time high, leading to a severe recession. Therefore, lending institutions such as banks have strict mortgage lending standards. Normally, it is people under the age of 35 who suffer from this problem, and this problem is increasing every year. Recently, over the last couple of years, in an effort to try and improve this issue in 2015, allAn American who obtains a loan directly from the federal government for college or graduate expenses can enroll in a program called "Pay." as you win.” The program previously open only to new student borrowers has monthly payments corresponding to 10% of the borrower's amount. This program reduced the monthly payment of students by a few hundred dollars, but the time standard for this is 10 years, but can reach a maximum of 20 years and after that the borrower must return to the initial monthly payment. This program partly explains why society as a whole has recently seen a decline in student debt. A four-year university isn't the only place where students take on debt. In 2008, 38% of students who earned an associate's degree went into debt buying books and paying tuition. The average debt for a student wanting to attend community college is about $7,000. It all depends on the school the students attend as well because Mt. Sac is more expensive than ELAC but they both issue the same degree and Los Angeles district students get a free year to attend ELAC , and this represents half of the schooling completed. already for an associate degree. Paying off student loans can be tricky, but there are solutions. The military is one of the most common routes for students to go to school without having to pay because it's a really good deal, sort of. If a student joins the Marines, Navy, or National Guard, then they are eligible for the Montgomery GI Bill which pays for students' tuition and debt they have already accrued. The National Guard is the best option if a student wants to go to school and join the military because the government pays the tuition and you can also serve because you stay in your area, barring a disaster does not occur, the National Guard can deploy as many. soldiers according to their needs. Joining the military also helps students buy a house because not only do they pay tuition, but the government also pays the down payment on a house. If a student has a bad credit score, it doesn't matter because the deposit is paid because all they have to do is have a reliable source of income. Additionally, when a student enlists, they receive additional monthly payments for the next eight years. It is therefore not necessary to have a job during your studies due to your source of income. The military can solve two problems that students may encounter in early adulthood, but the military is obviously not for everyone because they have certain standards and expectations. Some people might not like the fact that they are handing over their lives to the government or perhaps they might struggle to get in shape and not be able to achieve the requested MOS. Some schools also offer an ROTC program that trains students who want to join the military or who already have the chance to become a lieutenant, which is a very difficult rank to obtain. During this process, the ROTC program provides many students with a scholarship that pays for tuition and on-campus dormitory housing. They must complete this course/program for all four years and afterward, if they are qualified, then they can choose the type of lieutenant they want to become and many opportunities are available. Most people get out of college debt by simply getting a well-paying job and using the degree they paid so much for. Many students have difficulty finding a job because they have chosen a major that is not in demand. By.