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How can we fix student debt?

Brianna Smith, Staff Writer

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Today in the United States, many students around the country are preparing to graduate. Pride, excitement, and relief is what you may expect a senior to feel, but as I look around at my fellow classmates, I only see dread and anxiety. What’s the cause of the depression that slowly clouds us? Student debt.

Of course, acquiring debt in adulthood is just something that is bound to happen at some point, but the student debt crisis has gotten so bad. I know a few people that aren’t going to school and just decided on learning a trade just because they’re overwhelmed at these numbers.

“It’s very scary and overwhelming,” say senior Antwaun Allen. “You have to be so careful about it, and it’s really affected what school I chose.”

The average student debt in 2017 was $37,172, with the average university costing $35,000 a year. But for students of Eisenhower that plan to attend school in Chicago, that average shoots up. And the overall debt in America is absolutely horrific.

“Americans owe over $1.4 trillion in student loan debt, spread out among about 44 million borrowers. That’s about $620 billion more than the total U.S. credit card debt,” reports Mark Kantrowitz, and proven by Debt.org.

Why in the world should citizens have to suffer just to get an education? An education which, in today’s society, is very necessary to make a living and live comfortably. 60% of student loans don’t get paid off until 40, my father and other family members included in this number.

The question now is, what can be done?

New York became the first state to offer free for four-year college tuition as part of the state budget. They did this in hopes to encourage instead of put down their citizens because they knew that a college education is a necessity in today’s economy.

Middle class familys are regaining hope to succeed and better their lives, and perhaps Illinois could consider this option as well. If not, the government should at least look at colleges and really review if those costs are justified for the public, and make adjustments based on income and really provide help instead of just shoving loans in your pockets.

 

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The student news site of Dwight D. Eisenhower High School
How can we fix student debt?