Finale

Sarah Javed

Ms. Williams

English 1A

22 December 2013

Student Loan Affects

            Is it ultimately true that the one way of obtaining the absolute American dream is through the obstacles of retrieving a college degree and then being provided with any job possible after doing so? Most Americans believe that after receiving a college degree, their road to financial success will be extremely easy. But that is a total myth. The inflation of college education has not decreased at all compared to health care and housing. Causing many students with the inability of being able to afford for college tuitions, books and are faced upon depending on student loans that are given by the government. Most Americans believe that going to college and being sucked into major school loan debts will eventually be handled, once graduated and provided with a promising job, for those enormous debts will be paid off in no time. But the ultimate truth is that there really isn’t any type of promising job due to our economy and will most likely be unable to pay off their debts which later on pushes them into poverty. Student loans is a major factor to why many young adults are being drowned into debt due to the fact that student loans are given to young adults whom are financially unstable, the instant availability money is being spent elsewhere and the current economy results with unavailable jobs.

            Major debts are being initiated by the ugly fact that student loans are being provided to financially unstable young individuals. For instance in the documentary College Conspiracy, it states that the American government are now providing 18 year olds the opportunity of receiving a college loan without checking to se if they are employed, what major they chose in college, or even what their future plans were in order to see if they were even capable of paying off their future debts. This simply shows how the U.S. government is in no interest of an individual being drowned in debt at such a young age. Creating such high hopes of how much a college degree can get you in life with a wonderful promising job, does not prepare these young adults with the type of stress that would be arising in there futures, all due to the great amounts of debts that are going to take over their sense of financial stability. And the truth that there is no such thing as a promising job, for the availability of jobs is running extremely low. The U.S. government is also trapping adults at such a young age into a debt that they would have to work their entire lives to pay off. With the debts created by providing young adults with numerous loans, which eventually enforce many Americans with the endless amount of years with working, all in order to pay off their enormous debts.

            Another extreme affects of student loans would be the instant availability of money is making young adults spend it elsewhere rather than upon education. It has become an epidemic of how student loans in America are being distributed elsewhere rather than on their college tuitions and books are being spent on materialistic necessities. Most young adults whom receives a loan, especially one that is accessible instantly, from the government usually do not spend their money wisely. Majority of their student loans are being spent upon cars, jewelry, and other superfluous stuff, which ultimately could furthermore themselves into great debt, for how are they suppose to pay back their loans without attending college or even having a job. This is an example of a bad debt, for there is no type of thinking forward future-wise. Young adults whom are living life lavishly off of their student loans are on a track towards absolute failure. There is a huge risk being taken when there is no type of career goals or promising jobs on the other end of spending their student loans on materialistic items. This factor leads to many young adults with great amount of debts that the most likely would not be able to pay of in their near futures. Giving a young adult the sense of obtaining such great amount of money allows them to think impractical, living an impractical life that isn’t realistically affordable for an individual at 18 years old.

            Another unfortunate factor that further triggers student loans, are the lessen amount of job openings that were promised after retrieving a college degree. In the College Conspiracy documentary, it states that the amounts of guaranteed jobs that would be provided with a valuable college degree are not guaranteed at all due to our horrific economy. This shows how even following the American standards of obtaining a college degree, which out righteously is the passport to financial success and the gateway to the American Dream is not promising in our current economic standards. This also demonstrates how many young individuals, whom are believing that they are acquiring good debt, being able to pay off their debts after going into their chosen careers, are doing the exact opposite. All their hard work and effort being put into their education, believing would benefit them later in the future, are entering a world of life-long student loan debts, which will not be able to pay off due to the low amounts of job openings. Student loan debts would enter an all time high increase with young adults who are not able to pay them off.

            The value of a college degree is decreasing and the costs of tuition are outrageous. Student loans are becoming a baggage to those whom aren’t able to pay them off due to the economy and are becoming an impractical lifestyle to those who spends it on materialistic stuff over education. How are we as young adults suppose to know what to do, when our greatest option of gaining a valuable education is worthless and expensive at the same time? This issue will begin to influence young students from wanting to attend college or even thinking of a career to major in. Student loans will devour the lives of many young adults and will suffice to working their entire lives to pay off .