Forgiving Student Debt
Forgive and Forget Student Debt?
As Graduation comes near we all like to believe that our careers begin debt free behind that glass door, we turn the knob and all our extensive work will have paid off. When in fact, the glass door shatters and the student faces reality of paying back student loans. There is little dispute today that the number of students who have student loan debt has increased.
Kayla Webley, article “Is Forgiving Student Loan Debt a Good Idea” touched on a topic that I too soon will be facing along with many of my other fellow graduates and that is the dreaded pay back of student loans. Webley makes some very respectable points regarding the responsibility of student loans. Also, she includes the confusion individuals who …show more content…
Handling money when in school is a crucial part of building a credit history student loans tend to be the first type of credit for those in college. I have noticed my credit rating increase while taking out student loans, it does in fact jump start your credit and can be very helpful when you move forward in life after college. Lastly when I think about student loan bail-out I am reminded there are programs in place that offer federal student loan forgiveness, canceled, or discharged should a graduate fall on tough times due to circumstances where they are unable to pay back their loan. Also, there is a program known as the partial financial eligibility plan which is an Income-Based Repayment (IBR) and pay as you earn plans. It goes without saying that giving college students an easy way out with 100% loan forgiveness is not the answer. Webley, brings to light the confusion of student loans, and the negativity the media portrays on debt is not close to accurate. And in conclusion the majority of students are capable and should be held responsible to pay back student
As Graduation comes near we all like to believe that our careers begin debt free behind that glass door, we turn the knob and all our extensive work will have paid off. When in fact, the glass door shatters and the student faces reality of paying back student loans. There is little dispute today that the number of students who have student loan debt has increased.
Kayla Webley, article “Is Forgiving Student Loan Debt a Good Idea” touched on a topic that I too soon will be facing along with many of my other fellow graduates and that is the dreaded pay back of student loans. Webley makes some very respectable points regarding the responsibility of student loans. Also, she includes the confusion individuals who …show more content…
Handling money when in school is a crucial part of building a credit history student loans tend to be the first type of credit for those in college. I have noticed my credit rating increase while taking out student loans, it does in fact jump start your credit and can be very helpful when you move forward in life after college. Lastly when I think about student loan bail-out I am reminded there are programs in place that offer federal student loan forgiveness, canceled, or discharged should a graduate fall on tough times due to circumstances where they are unable to pay back their loan. Also, there is a program known as the partial financial eligibility plan which is an Income-Based Repayment (IBR) and pay as you earn plans. It goes without saying that giving college students an easy way out with 100% loan forgiveness is not the answer. Webley, brings to light the confusion of student loans, and the negativity the media portrays on debt is not close to accurate. And in conclusion the majority of students are capable and should be held responsible to pay back student