Student Loans And The American Dream - 1708 Words

Is a College Degree the Key: An Analysis on Student Loans and the American Dream These days, going to college is hailed to be the solution, the key to making something of oneself in life. It is celebrated as a part of life that will make a person successful and rich later on. A degree is essential to making one’s way up the 21st century economy. College is meant to give people a chance at the American Dream – an education, a job, money, and quite possibly a spouse. But is that promise too good to be true? With the ridiculous price tag on college today, anything less would be criminal. Unfortunately, colleges do not guarantee an education, and yet still leave students with debt in the ten thousands, which ends up negatively affecting their job opportunities, mortgage, family, well-being, retirement, and future in general. By forcing those who pursue higher education to enter the working world with crippling debt, student loans are destroying the American Dream, leaving graduates with limited and undesirable choices in all aspects of life. Straight ou t of college, with a shiny degree to speak for their accomplishments, the first thing many look for is a job – an enjoyable one with a good chance of development and increased success in the future. In reality, though, they cannot actually afford to do this. With the weight of their student loans, growing in interest every day, they are pressured to find a job, and fast. Take Jackson Solway for example, who â€Å"created an onlineShow MoreRelatedStudent Loan Debt : The American Dream Perceived By Many1294 Words   |  6 PagesStudent Loan Debt The American dream perceived by many is to obtain a college degree to have a successful life. However, many people cannot afford to go to college and are left no choice but to get a student loan. Student loans are intended to help students pay for a higher education, but is it worth the risk of being in debt? The dictatorial definition of debt in the Merriam Webster’s dictionary as a state of being under obligation to pay or repay someone or something in return for something receivedRead MoreThe Great Gatsby By F. Scott Fitzgerald1353 Words   |  6 Pagesthe rich man he had saved by staying with him and learning how to act â€Å"rich† to make himself rich and to live in his dream world. Gatsby took the opportunity and went into the drugs business or in other words bootlegged and turned from rags to riches. Just like that Gatsby represents the American dream which according to James Trusio Adams from The Epic of America is, â€Å" that dream of a land in which life sh ould be better and richer and fuller of every man, with opportunities for each according toRead MoreGraduation Speech : Millennials And College Debt 1485 Words   |  6 Pages2016 Millennials and College Debt Everyone has a dream, and in America, when someone reaches the financial and ethical position they desire to achieve, it is referred to as reaching one’s American dream. For numerous amounts of people, the American dream involves life events such as finding a stable career or job, buying a house, getting married, having children, and nurturing a future generation. While an individual’s dream may differ from another’s, most people do not want to worry ifRead MoreThe American Dream1075 Words   |  5 PagesThe â€Å"American Dream† is a concept that everyone grew up understanding and striving to achieve. However, as the dynamic of day to day life has changed, so has the attainment of that goal. Some might say that the idea of what the â€Å"American Dream† is has changed as well. Millennials are the generation that will have the most significant impact this changing ideal of success. Many factors have contributed to the evolution of this dre am determining the direction that this dream is headed and how theyRead MoreThe American Dream And The American Dream1088 Words   |  5 PagesIn American society, there are many norms that have become essential to citizenship, like owning a home or attending college to pursue higher education. The American Dream drove Americans to improve their living standards and live luxurious suburban lifestyles, but quickly it became evident that in order to achieve the American Dream, people were forced to take on debt. Mortgages, credit cards, and student loans became a part of regular conversation for the middle-class and were crucial to upholdingRead MorePost Secondary Education Comes At A High Price864 Words   |  4 Pagesto land the six-figure job is soon destroyed when students realize how much debt they obtain. Dreams of owning a house and starting a family are shattered by the money borrowed to provide and guarantee students an excellent future. Instead of waiting to land the ideal job, students work multiple jobs to help ends meet. Struggling to stay afloat, millions of students become victims of one of the major economic crisis in the United States; Student debt. According to the article â€Å"College on Credit†Read MoreStudent Debt Over The Years984 Words   |  4 Pagesland the six-figure job is soon destroyed when students realize how much debt they’ve obtained. Dreams of owning a house and starting a family are shattered by the money borrowed to provide and guarantee students an excellent future. Instead of waiting to land the ideal job, students work multiple jobs to help ends meet. Struggling to stay afloat, millions of students become victims of one of the major economic crisis in the United States today; Student debt. According to the article â€Å"College on Credit†Read MoreStudent Debt Over The Years876 Words   |  4 Pagesdebt you are in. Dreams of owning a house and starting a family is shattered by the money borrowed to provide and guarantee students a better future. Instead of waiting to land that perfect job, students are forced to work multiple jobs to help ends meet. Struggling to stay afloat, millions of students are becoming victims of one of the major economic crisis in the United States; Student debt. According to the article â€Å"College on Credit† written in â€Å"The Economist† journal, student debt over the yearsRead MoreThe Student Loan Scam Is An Interesting Book1320 Words   |  6 PagesThe Student Loan Scam is an interesting book that details all the information that people need to know about, the good and the bad. It is interesting and an easy read, but can be better understood through the use of theories. The theories we find in this book are Power Elite Theory, Karl Marx’s Surplus Populations, Monopoly Capitalism, the Education Industrial Complex, Anomie, and Labeling Theory. Power Elite Theory is one of the more predominate theories in The Student Loan Scam. This is seen mainlyRead MorePopping The Bubble : The True Cost Of Student Loans1699 Words   |  7 PagesPopping the Bubble: The True Cost of Student Loans Kyle Laffin is seen as an typical mid 20’s American. He attended college to pursue a degree in accounting and financial freedom, but this came at a cost which he didn’t imagine. He took out a loan with his father as an cosigner for a little over $100,000. Even though he got an accounting job directly out of college, he is now stuck paying back a monthly loan payment of $1,200, when he only makes $3,333 a month before taxes. This has forced his father