Should student loan debt be eliminated?

Global student loan debt consists of 44 million debtors who owe more than 1.5 trillion. For comparison, the USA’s population is 328 million with last years federal debt being 22.8 trillion. Per student, they owe 34,090, per American they owe 59,687. A difference where the student debt continues to rise.

Yes, student loan debt should be eliminated

Student loan debt has been increasing, making it hard to pay off

Places like the UK and America have schools people want to attend even without aid or scholarships to ease the way. In modern society it’s hard to come out of any school without debt weighing a graduate down.

Student money is not always used to benefit the college or the students

The money students pay to their schools is supposed to be used to keep it running and be used for improving their time there. However that's not always the case and sometimes that money is used for other occasions and in some cases wasted instead of used for the school, or the students, benefit.

No, student loan debt should not be eliminated

The money from repaying the loans goes towards funding the schools

Student loan debt is directly within correlation of the money schools receive for funding. It's common knowledge that the cost of school isn't always something that can be paid in full. Loans exist to make attending possible and while debt isn't fun it not impossible to pay off either.

Eliminating student loan debt would foster the cost onto the government

The truth of all institutions is that they need money to operate. Some are funded through the government, others through donations. Schools are funded through a mix of the government and . To eliminate would foster all the responsibility of money and aid onto the government.

The student loan debt system should be revised

The system should support students, not be used to make money

While student loans are meant to aid students the math behind it is much different. The equation is specific to finding out not how much aid a student needs but how much they can afford to give and that number is almost always too high to afford.

Revising the system would allow for more economic freedom from all parties

Coming out of school with debt almost seems to be the college or grad school experience in this day and age. Revising the system would make that experience much more bearable.
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This page was last edited on Tuesday, 12 Jan 2021 at 21:16 UTC