"It was stressful, because coming out and having to have a payment of about $217 a month, it just seemed like a lot of money to pay back when you don't really know where you were going to be working, how much you're going to be making," she says.
Monday, February 25, 2019
Student Loans: Some Employers Help Workers Pay Them Down
"It was stressful, because coming out and having to have a payment of about $217 a month, it just seemed like a lot of money to pay back when you don't really know where you were going to be working, how much you're going to be making," she says.
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Student loan are a boon and a bane. Without their presence, a lot of deserving students wont have the opportunity to study in reputed colleges, which would be a waste for the labor force of the nation. However, once a student graduates, this boon becomes a bane because now the newly graduated student has an added expense to pay for, something which is going to be on him for a long time.
There is no doubt that with the high tuition costs today, student loans are the go-to options for a majority of the student population and it is because of these loans that educated people become a part of the workforce, which is beneficial to everyone.
However, it is also a bane in a sense where the repayment might be a hard expense to get along with. Many students end up not being able to pay their loans which is harmful for their credit history and for the banks. There is no way around not paying the loan, one has to return what hey borrowed but by making sure that the graduate is in a secure place to handle this expense, is an equally important goal to achieve.
I really appreciate that this is an option at new companies, but the fact that it's necessary is absurd. While I understand that my choice to attend a private university has increased the likelihood of student loans, those attending public universities should not have to face such intense costs. Honestly, neither should we. University in America HAS to become more accessible, otherwise we're gonna discover that this new generation of adults that have been entering the work force aren't going to be able to support themselves because they're facing crippling debt. We are essentially lowering the median income because people now have to struggle to pay off the education that we have essentially required people to get in order to get a steady well paying job. How is that helping anyone? If anything, at least lowering the price of college could benefit our economy, if not completely making it free. This concept has worked out for many other countries, and it's time for us to catch up. At the very least, instate tuition should be free, everywhere, and Carnegie Mellon full tuition really shouldn't be equal to the price of a medium sized house in a nice area. Our futures are an investment, but no 18 year old has that kind of money, and many of our parents don't either. The financial aid is helpful, but it doesn't save people from this kind of debt.
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