College Loans: A Constant Battle

How many of you have college debt? Be honest. You can turn on the news and there lies the issue on college debt and the people who are in debt. This issue has gotten so out of control that some students and graduates have to work two to three jobs to pay off college debt. It amazes me, that U.S. Congress decided to go on vacation versus finding a solution to the issue that is more than an issue for college students and graduates, but a major problem for the American economy. Imagine graduating from college at twenty – one years of age with family and friends by your side, who are rejoicing over your hard work in school, and after all of the hard work letters come into the mail from Sallie Mae asking for a monthly payment of $ 500.00 monthly for the next twenty – five years to pay off college debt, but you don’t have a job due to the harsh economy. I have spoken to many college graduates and college students that have found themselves in this predicament and can’t seem to get out of it. Raising the interest rate on college loans to 6.8 % will be the biggest mistake that congress could ever do to these college students, and the future graduates will have to find work that will pay back the money borrowed from the government and third party lenders. I recommend that college students should start looking for work the last semester of college and not wait until graduation; because, the world is more competitive than it was fifteen years ago, it seems like everyone has a college degree and companies only have a certain amount of positions open by the time many of the college students reach graduation. Also, only borrow what you need and when there is a refund, put a good amount into a separate account, so that when it is time to pay back the loans, it will make it easier to pay back a portion of  the loans up to six months to a year, and it will give some college graduates enough time to find a job.  Earning a college degree is not cheap by any means, and some of the degrees that many colleges and universities are offering are not worth anything for example, Philosophy, English, and Psychology. A philosophy degree is not as important in todays world as it probably would have been very important while in debate with Plato or Aristotle. English would be a great addition with a Masters degree. A psychology degree will only matter if the individual plans on earning a higher degree, than the degree will be worth more. Think of the future before applying for all of those loans and find a major that will get you a job and hopefully a career.


 Below are some great solutions to a easier college experience:


*Attend Technical school it is less expensive and only takes two years versus four years.

*Look for an accredited college online, and it takes less time and less money for some of the institutions (Do some research)

*Go to a community college

*Apply for grants and scholarships

*Work part-time and go to college


For more assistance look for help from college counselors and I pray that this has been helpful to you and I know that God will guide you through this process.


*Please comment on this issue and help the many college graduates and future graduates find a solution to this problem.


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