Essay on Student Loan Debt
It is a norm and expectation in society today for students to pursue higher education after graduating from high school. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all time high with so many people graduating from college, and having difficulties finding jobs in their career fields, so they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.
There are different types of financial aid available to …show more content…
Unlike Subsidized Loans, Unsubsized Loans are not offered to students based on need. It also differs from Subsidized Loans because as soon as the loan is paid out to the schools, interest immediately starts to accumulate. With the interest being accumulated, students can start paying those interests while in school, or when they graduate. If students decide to leave the interests until graduation then the amount that needs to be repaid will be higher than the amount that has been borrowed.
The Federal Plus Loans are offered to graduate students and parents of