Answer to Question #210859 in Macroeconomics for Jen

Question

According to multiple sources, "Americans owe over $1.4 trillion in student loan debt...that's about $620 billion more than the total U.S. credit card debt...the average class of 2016 graduate has $37,172 in student loan debt" (SLH). What potential problems does this pose? What, if anything, should be done about this and by whom? 200 words

2) What motivated you to go to college and do you think that it will be worth the investment? 200 words

3) What should Americans consider before applying to college? 200 words

Answer 1

1. Since the students have high loans, the recovery process might be tedious and challenging because students don,t get jobs immediately after school, making them likely to default monthly payments after school. To curb this problem, the government should reduce the rate at which it issues loans to students and offer jobs to the students to trace the recovery of loans easily.
2. What motivated me to join college is acquiring the necessary skills that will help me think openly and broaden my mind, as this will help me get a job or start my own business and run it effectively. It is worth the investment because the knowledge and skills gained in college determine future success.
3. Americans should consider whether they can finance their studies before applying for a college education. They should also gauge whether they can pay education loans after school.