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Student Loans: A generation ago, the federal government opened its student loan bank to profit-making corporations. Since then, law by law, student debt has become the worst kind of debt for American students (best for banks and loan collectors). Student loans are not even allowed to be dismissed in bankruptcy. Consider some possible solutions: Permitting loan forgiveness, allowing bankruptcy, eliminating private collection agencies from this process. ( I need 5 different sources or information.) If possible, send them to me before the paper. (MAL Style with cover page.)

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Surname 1
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The Student Loan Crisis in America
The student loan crisis has risen in the United States in the last five years- to date with
two out of five students likely to default on their payments. The sum of student loan debt has
totaled up to an estimated $1.4 trillion, the largest household debt after housing. The default rate
of these loans is at 11.3% as of 2017 with the state of New Hampshire leading in high default
rates while Utah registers among the lowest student loan default rate. These loans cut across age
groups ranging from 30 years to over 60 years of age. The main cause of this is that the students,
and those with outstanding debt are promised of loan forgiveness, a factor that increases the rate
of those who apply for the loan against those who repay their loan in full (Dwyer, Rachel E,
Laura McCloud & Randy Hodson). Some of these people fail to pay their loans due to legitimate
reasons while others fail to pay simply because their area politician promised them loan pardon
once elected. Unknowingly to the general public, the high rate of student loan debts affects the
stronghold of the mortgage market.
Similarly, the IG in charge of the Education Board failed to monitor loan servers that
would prompt the department to account for every loan taken. The other plausible factor would
be the high standard of living, causing some of these defaulters to suffer under serious economic,
and financial situations that prevent them from paying their student loans. Some drop out of
school, and fail to secure well-paying jobs while others face the effects of the rise in
unemployment in some states. Another causal factor would be the rise of tuition fees in

Surname 2
universities, and colleges, both public, and private institutions. Also, those who are employed
may have a hard time in paying their loans particularly in situations where the live standards are
high while their pay remains the same.
Nonetheless, the loans need to be repaid as this money is needed for future generations
that are to go through the same education systems in years to come. A go...


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