The Problem Of State College Students ' Loan Debt Solution Essay
Durham Technical Community College
This essay attempts to explain the problem of state college students’ loan debt. Most of college students graduate with heavy debt. In an attempt to shed light on the loan debt, two solutions were offered. These solutions are an income contingent scheme and decreasing college tuition cost.
Public College Students Loan Debt Solution
Public college students’ loan debt in this country is at an all-time high. College students’ loan debt raised serious concerns for students and make them worried about their future. Education can be an investment in human capital, the decision to pursue a study program in higher education is similar to a decision to invest in market on something. College tuition has increased over time and the number of students requiring financial aid and student loans has increased as well. According to Dr. Anthony Stokes and Dr. Sarah Wright lecturer at the Australian Catholic University, Australia “The U.S. Department of Education estimates that approximately 7 million borrowers will need more than $68 billion in federal loans with private education loans contribution a further $20 billion in 2008”(Stokes, Wright, 2010, p.1). Majority of college students get loans to pay for their higher education and the demand for getting loan by students are increasing because college tuition cost is increasing. Most of the…