Student Loan Debt Thesis Statement

Student loan debt has become a major issue in recent years, as the cost of university education has risen and more students have been forced to take out loans to cover their costs. The average student loan debt in the United States is now over $37,000, and the total amount of outstanding student loan debt is estimated to be over $1 trillion. This has led to a number of problems for both individuals and the economy as a whole.

Individuals with high levels of student loan debt often find it difficult to make ends meet, as they are struggling to repay their loans while also covering other living expenses. This can lead to financial difficulties and even default on their loans, which can damage their credit score and make it difficult to get access to other forms of credit. Student loan debt can also lead to stress and anxiety, as borrowers worry about how they will ever be able to repay their loans.

The high level of student loan debt in the United States has also had a range of macroeconomic impacts. For example, it is thought to be one of the reasons why young people are delaying buying homes, as they simply cannot afford to take on additional debt. This has knock-on effects for the housing market and the economy as a whole. Student loan debt is also thought to be one of the reasons why many graduates are choosing to work in lower-paid jobs, as they need to earn enough money to make their loan repayments. This can have an impact on productivity and economic growth.

The student loan debt crisis is a complex issue with no easy solutions. However, there are a number of things that can be done to try and alleviate the problem. For example, universities could work to reduce the cost of attendance, so that fewer students need to take out loans in the first place. Alternatively, government policy could focus on making it easier for borrowers to repay their loans, for example by introducing income-based repayment plans.

Going to college is often advised as the next step in education after high school, but is it really that simple? The most significant issue for students today is money. Nowadays, receiving a scholarship would be the greatest method to go through college without accumulating student loan debt later on. Even though financial aid is available for those seeking higher education, not all of them will qualify for financial assistance.

The answer to this money issue is to have a scholarship. According to Student Debt Relief, “In 2019, the average student loan debt was $30,063.88” ( Student Debt Relief). This amount of debt can be a tremendous amount for someone just starting out in college or even after they have graduated. The number of students with debt is also increasing every year.

Student Debt Relief states that “67% of bachelor’s degree recipients from public and nonprofit colleges had student loan debt in 2018” ( Student Debt Relief). This percentage has increased over the years, which means more and more students are struggling with finding ways to pay off their loans. Scholarships can help with this problem because they do not have to be paid back.

There are many scholarships available for students, but they can be hard to find. is a website that “maintains the largest database of private and external scholarships on the Internet” ( This website can help connect students with different scholarship opportunities. Another way to find scholarships is by talking to your guidance counselor at school. They will have information on local scholarships that may be available to you. There are also many websites and books that list different scholarships that may be a fit for you.

It is important to start looking for scholarships as early as possible so you do not miss any deadlines. It is also important to read all of the instructions carefully and make sure you are eligible for the scholarship before you apply. Once you have found a scholarship or multiple scholarships that you are eligible for, the next step is to fill out the application.

The application process can be time-consuming, but it is important to take your time and fill it out correctly. Make sure you answer all of the questions truthfully and completely. Some scholarships may require an essay, so make sure you follow all of the instructions and format your essay correctly.

After you have submitted your application, all you can do is wait to see if you have been awarded the scholarship. If you are not awarded the scholarship, do not be discouraged. There are many other scholarships available, and you can always reapply for the same scholarship next year.

Receiving a scholarship can take a load off of your shoulders financially, and it can also help you focus more on your studies. If you are struggling to find ways to pay for college, look into scholarships as soon as possible. There are many different scholarships available, so you are sure to find one that is a fit for you.

Do not let the burden of student loan debt hold you back from getting a college education. Scholarships can help you achieve your dreams of going to college without the worry of how you will pay for it.

It puts them in a bind since they will not be able to meet the requirements. As a result, they must take out student loans to cover their education costs. It is the start of a long road that leads to student loan debt difficulties because they have no other option but to borrow money through Sallie Mae. Today, the most popular loan provider is Sallie Mae, which was formed as a private firm in 1972 and became publicly listed in 2004.

Student loan debt has been on the rise in America over the past few decades. In 1987, outstanding student loan debt was around $40 billion. By 2006, it had increased to nearly $200 billion. Student loan debt is now the second-largest type of consumer debt in the United States, after mortgage debt. The average student loan borrower owes more than $28,000. More than 40 million Americans have student loan debt.

Student loan debt affects not just borrowers, but also their families and the economy as a whole. Student loan debtors are less likely to buy homes and cars, and they are also more likely to default on their loans. This can have a ripple effect on the economy, as fewer people buying homes means fewer construction jobs and fewer people buying cars means fewer jobs in the auto industry.

The problem of student loan debt is compounded by the fact that many graduates are unable to find jobs that pay enough to allow them to make their loan payments. In fact, nearly half of all recent college graduates are unemployed or underemployed. And of those who are employed, many are working in jobs that do not require a college degree.

The combination of high unemployment and low-paying jobs has led to an increase in student loan defaults. In 2009, more than 6 percent of student loan borrowers defaulted on their loans. This is the highest default rate since 1998.

Leave a Comment