The Negative Effects of College Debts on Students

Debts on students

A significant percentage of students in the United States depend on loans to pay the full cost of their education. The number of students depending on student loans to pay for their education is continuously increasing, as is the amount they borrow. The majority of the students have an average student loan debt of $40,000 (Zhang, 2013). Besides, the student loan debt is a significant issue in the US, with the total debt currently being $1.48 trillion, which was borrowed 44 million students during their time in school. While student loans enable students to complete their studies and pursue their dreams, they are associated with several negative effects on individuals. The negative effects of student loan debts affect the students’ future lives. They hinder students from achieving significant financial milestones. Moreover, student loans affect the personal wellbeing of people years after graduating (Zhang, 2013). Apart from determining which dreams to pursue, college debt affects more than financial independence and the standard of living for many students. The increasing student loan debt and their associated negative impacts motivated me to support the argument that college debt affects more than financial independence and the standard of living for many students.

The Negative Effects of College Debts on Students

Student loan debts have a profound impact on many areas of people’s lives once they leave high education. For instance, student loan debts impact career choices and financial status. Some graduates may be forced to settle for low paying jobs due to desperation as they strive to pay the student loan debts (Johnson et al., 2016). Besides, college debts hinder some individuals from pursuing their dreams, which is an essential area of life. This occurs when some individuals get forced to sacrifice certain jobs that would have fulfilled their purpose and seek opportunities that offer high salaries to facilitate payment of the college debts. Another crucial area/aspect of life impacted by college debts is retirement. The college loan debts limit the amount of money students save for their retirement. This is because a significant percentage of the students’ earning are used in payment of college loan debts.

Moreover, college loan debts associated with significant financial issues. For instance, college graduates who have loan debts have a lower net worth. In addition, college loan debts impact students’ debt to income ratio (Johnson et al., 2016). The majority of college graduates have high ratios, which reduces their ability to qualify for loans. Also, lenders may provide loans to graduates who have student loans but at a higher interest rate because of high debt to income ratios. Higher interest rates included in loan payments for college graduates adversely affect their financial status in the long run.

Furthermore, college debt affects more than financial independence and the standard of living for many students since it results in the inability to buy a house at the start of the career (Johnson et al., 2016). Many students fail to purchase houses after graduating since the loan debts prevent them from saving enough money required to buy the buildings. Most of the funds acquired by students are used to settle the loan debts. Besides, student loan debts reduce the chances of students qualifying for an affordable mortgage with a reasonable interest. Additionally, college loan debts hinder students from saving up a down payment required by moneylenders (Velez, Cominole & Bentz, 2019). Hence, students may afford to raise monthly mortgage payments but still fail to buy houses due to the inability to save a down payment. In addition, students have high debt to income ratios, which affect their chances of qualifying for a mortgage. A significant proportion of young adults live at home with their parents since some of them cannot afford rental houses. Research and analysis complied by Zillow show that about 14 million young adults aged 24 to 38 are still living with their parents due to college loan debts that restrained them from buying houses.

Additionally, college debt affects more than financial independence and the standard of living for many students because they don’t go away easily (Johnson et al., 2016). Unlike other types of debts, college debts don’t go away easily. For instance, individuals who borrow loans to buy cars and fail to make the payments can return the vehicles to the dealers. Also, banks may assume the ownership of homes of individuals who fail to settle their debts. Conversely, college loan debts do not go away easily because students have nothing to return; the funds have already been spent during the students’ time in school. Besides, bankruptcy courts rarely discharge cases of college loans.

Besides, college loan debts contribute to personal issues that impact self-esteem, financial exclusiveness, and peer pressure (Webber, 2016). College graduates with student loan debts experience hopeless and worry due to the need to make the loan payments regularly without fail. Also, some graduates who had college loans reported that they experience embarrassment and shame because they don’t want their families and friends to know they are struggling with college loan debts. Some students experience peer pressure from colleges who manage to settle their debts without delay. As a result, such students experience low self-esteem and stress. Besides, college graduates who have student loan debts tend to live in fear. For instance, some graduates fear losing their jobs or being declared bankrupt. Additionally, college loan debts result in financial exclusiveness. This occurs when college graduates direct the finances they have to settle debts and exclude their needs to invest in other essential things in their lives.

Moreover, college loan debts negatively affect students by contributing to possible disqualifications while applying for different jobs (Webber, 2016). Numerous organizations perform background checks, which currently includes credit investigations of candidates. About 48% of the organizations in the US have incorporated credit checks in the background investigation of job applicants. College graduates who are late in making the loan payments may be disqualified from hired by certain companies. Several employers believe that student loan debt may negatively influence the job performance of job applicants. Some assume that college graduates with student loan debts are less focused on their positions because they are struggling to pay their loans (Solis & Ferguson, 2017). Moreover, the government may punish some graduates who fail to settle their loan payments by taking away their licenses. Hence, professionals that are required to have licenses such as those in the cosmetology, medicine, and law fields may be rendered jobless in case they miss several college loan payments.

Furthermore, college loan debts cause potential low credit scores. Several credit bureaus treat college loans like other types of loans (Webber, 2016). Failure by college graduates to make timely payments lowers their credit scores. Low scores show high risk and tend to influence lenders to deny college students credit to buy assets such as cars and houses. Moreover, such low credit scores result in an increment of interest rates imposed on college graduates if the application of credit is agreed upon. Besides, insurance companies rely on credit scores when determining insurance rates. Thus, college graduates who have low credit scores due to issues with loan payments are forced to pay high insurance rates. Additionally, the rate of credit card defaults has increased to 11.5% (Solis & Ferguson, 2017). This shows that a significant percentage of college graduates with student loans default payments. Another problem is that a significant number of college students who take loans fail to graduate hence increasing their chances of defaulting payments.

However, college loans have some positive effects on students. For instance, the debts prepare college graduates to strive for a better paying job (Marx & Turner, 2019). This is because graduates tend to seek better-paying jobs that will enable them to pay the loans without delays. Student loan debts can let students have a different experience and make them live away from home, which in many cases, has far better outcomes. For instance, students who live away from home get the opportunity to interact with other students from other parts of the country. Student loan debts do not stop them from going to college. These loans give students who are not financially capable of settling their tuition arrears a chance to pay them, and a large number of students have benefitted from this program (Nissen, Hayward & McManus, 2019). Additionally, academic rewards can always come in handy. For instance, graduates who manage to settle their college debts early enough can still pursue the careers of their dreams that were facilitated by the loans during their time in school. Besides, college loans enable students to remain in school and prepare them for better-paying employment opportunities.

Conclusion

Student loan debt may have some benefits for the student community in the long-run. Still, evidence supports the claim that carrying a student debt profoundly impacts many aspects of an individual’s life. For instance, student loan debts have a profound impact on many areas of people’s lives once they leave high education. They influence career choices negatively as some graduates are forced to settle for low paying jobs to enable them to make the loan payments. Moreover, college loan debts associated with significant financial issues. For instance, college graduates who have loan debts have a lower net worth. College loan debts reduce the chances of graduates purchasing their own homes since they direct most of their income to the debts. Besides, college debts don’t go away easily and may result in personal issues such as peer pressure and low self-esteem. Also, some students experience problems as college loan debts may result in possible disqualifications while applying for different jobs. Moreover, student loan debts contribute to low credit scores.

Reflection Questions

Provide one example of a place where you have used rhetorical appeals or source material to support your argument. How does this enhance your essay?

I used logos in the argumentative essay to persuade the audience to believe that college loan debts affect students negatively. In this case, the audience includes college students. Logos involves the persuasion of an audience using figures, facts, and reasoning. In this case, the application of logos to the essay was the fact that research and analysis compiled by Zillow show that about 14 million young adults aged 24 to 38 are still living with their parents due to college loan debts that restrained them from buying houses. This enhanced my essay since it proved how college debts affect students by reducing their ability to buy a home at the start of their careers. The figures provide evidence of how college debts negatively affect students’ lives in the future.

Touchstone 4 is a revision of this draft. What kind of feedback would be helpful for you as you revise? Are there parts of your draft that you’re uncertain of?

I would expect genuine feedback to determine if the arguments I provided had enough evidence to support my thesis statement. Besides, feedback that supports the counter-arguments would be helpful since it will offer me an insight into the benefits of student loans rather than just focusing on the negative effects. I am uncertain about how college debts impact self-esteem among students and graduates. This is because some articles claim that college debts improve the self-confidence of students. However, the majority of the articles I accessed claimed that college debts decrease self-esteem among students.

Get professional assignment help cheaply

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.

Why choose our academic writing service?

Plagiarism free papers
Timely delivery
Any deadline
Skilled, Experienced Native English Writers
Subject-relevant academic writer
Adherence to paper instructions
Ability to tackle bulk assignments
Reasonable prices
24/7 Customer Support
Get superb grades consistently

Get Professional Assignment Help Cheaply

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

Plagiarism free papers
Timely delivery
Any deadline
Skilled, Experienced Native English Writers
Subject-relevant academic writer
Adherence to paper instructions
Ability to tackle bulk assignments
Reasonable prices
24/7 Customer Support
Get superb grades consistently

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
We will have a different writer write the paper from scratch.
Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment Help Service Works

1. Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2. Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3. Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4. Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!