Answer to Question #207806 in English 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?

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

3) What should Americans consider before applying to college?

Answer 1

According to one study, having $30,000 in student debt results in an 11% decrease in the probability of starting a business. And, when an individual with student debt does become an entrepreneur, they're less likely to experience business growth and more likely to fall behind on loan payments. What motivated me to go to college was the fact that I wanted better career options. It worked well for me. However, college is not the best choice for everyone. Many would be better served and happier by learning a trade. When applying for college I think Americans should consider the affordable cost of attendance. The cost of higher education can have long-term implications on your life, so it’s an important factor to consider when choosing a college. Find out upfront how much tuition and fees will cost and whether there are different rates for in-state and out-of-state students.