Sunday, May 13, 2012
A hope and Student loans
A lot has been written about Students loans and a lot will be written about them, since the rates of the new Students loan are about to double in a month or so if Congress does not act by then. I have already written about how the student loans have an impact on student lives. But in this article I am thinking that why the students (and their parents) spend so much money just to get your hands on their degree. It is what I call "HOPE". The hope that once you graduate, you would be able to find a job and pay off your loans easily. But now it is becoming harder and harder to do that since the jobs are scarce or don’t pay as much as you were led to believe while you were in College or lured into one. It is this hope that makes the students and their parents pay ever increasing sum of tuition money every year going into enormous amount of debt so they make have a decent shot of getting a job which not only pays their living expenses but also retire their student debt at the same time. But this hope is fading for many people since the jobs that they were led to believe are either not there or pay enough to pay for their living expenses but not retire their debt and in the process these debtors are postponing marriages, starting families and buying houses just because they are so much in debt that they either do not qualify or are afraid to take on more debt. And this vicious cycle keeps on going every year and I don’t see any end in sight for the plight of students and their parents.