Description
- Summary/overview of the principles or main "take-aways” regarding their topic.
- Explanations of the specific sub-topics areas
- Explanation of how this fits into Personal Finance and how one may use this topic in managing their personal funds.
- Exhibits, charts, etc.
- List of resources. (also can cite source in document) such as: according to Price Waterhouse Coopers, home prices have fallen 7% since May 2016.
Instructions: All papers must be professionally formatted and written. Please use a 12 pt font, single spacing and a double space between paragraphs.
Write the papers as if I am a client and have asked you to look into this thoroughly and explain it to me. This paper is a response to me explaining what I need to know and assume no prior knowledge so define terms that are used. DO NOT simply repeat information from the book.
Single spaced with headings such as Overview, Summary, etc.
1. Student Loan Debt Crisis
- Magnitude
- Potential ways to address it
- What students can do
- Any policies being changed to address this
- Other information you find on this topic.
Explanation & Answer
Please have a look. Thank you.😊
Student Loan Debt Crisis Outline
Due to the poverty level in various places, the government has come in place to ensure
that it assists children to go to school. As such, it offers loans to students who cannot afford to
sponsor their education with the resources that they have. This is good because it helps in
promoting education among people in a given country. However, repaying of these loans is an
issue that the government is are struggling to solve. This has caused a problem in the economy,
making the government suffer the student loan debt crisis. Over forty-million people owe the
government a whopping amount of over 1.5 trillion us dollars. This essay will focus on the loan
Magnitude, what students can do to solve this, and policies that have been changed to rectify the
situation.
A. The magnitude of students' loan debt crisis
I.
II.
The number of people who have loans total to over forty million
The cost of education has increased by 1000% from the 1970s
III.
Students leave college with a loan amounting to $ 25 000 on average
IV.
Students loan debt amounts to over 1.5 trillion us dollars
B. Potential ways to address students loan debt crisis
I.
II.
Lenders should provide flexible payment options with low-interest rates
Training students on financial literacy before taking the loan
III.
There should be financial aid programs in universities
IV.
Expansions of employment benefits
C. What students can do to solve the loan debt crisis?
I.
II.
Students should consider colleges and institution that they can afford
Students should inquire more about the loans before they take
III.
Loans should be the last option for funding education
IV.
Students should consider the transfer of colleges' option
D. Policies that have been changed to address student loan debt crisis
I.
II.
The government has reduced interest rates on the students' loans are reduced
Forgiving unpaid loans for the employee working with the government for ten
years
III.
Introduction an income-based repayment system
IV.
The government has come up with a risk-sharing program
V.
Restricting loan borrowing to curb unnecessary borrowing by students
E. Other issues on students loan debt crisis
I.
II.
Lon fraud
Creating awareness on loan borrowing
Students' loan debt crisis is an issue that the government considers severe due to its
magnitude, which affects the economy. Both the government and the students have a role to play
to ensure that they help solve the crisis. On the government side, some policies have been put in
place to assist students not feel the burden of repaying the loan. The government has come up
with strategies such as risk-sharing where they give institutions some incentive to help them
reduce the cost of education. Also, the government is trying to make students aware of the loans
and how they can fund their education without taking loans
Running head: STUDENT LOAN DEBT CRISIS
Student Loan Debt Crisis
Student’s Name
Institutional Affiliation
2
STUDENT LOAN DEBT CRISIS
Student Loan Debt Crisis
Introduction
Due to the poverty level in various places, the government has come in place to ensure
that it assists children to go to school. As such, it offers loans to students who cannot afford to
sponsor their education with the resources that they have. This is good because it helps in
promoting education among people in a given country. However, repaying of these loans is an
issue that the government is are struggling to solve. Most students who are being sponsored do
not always repay the loans on time or altogether. This has caused a ...
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