Evelyn Gonzalez                                                  

Professor Williams

English 1A

22 December 2013

Student Loans and How They Keep us Down

     At the moment in need, Student loans may seem like a great helpful resource to help a student pay their debts off, however little do we know that these loans keep us from going up any financial ladder in the future. The reason for this being is that interests increase your amount to pay back the student loan, so you might borrow a certain amount but in the end you owe triple to four times the amount borrowed. Not only does this keep you from buying a new home or a new family car but it also keeps you from living a stress, debt free life. Alongside, there is a video called College Conspiracy by Cayle Rose, where it speaks of the harsh reality about going to college. There are many other resources to help pay off school debt like scholarships and grants. In order to be able to afford college you need money, and the easiest way to obtain money is by taking out a student loan.

     You borrow a certain amount of money in student loans in hopes of paying it all back before interests get too high, but you never know what can happen throughout the coarse of your lifetime. You may loose a family member, in which all funeral costs lay on you and therefore you might need to defer from paying back your student loans. Also you may loose your one entry of financial support or your job, just to name a few. By putting your student loan payments on hold, your interests continue to increase and payment bills become a horror movie to look at. You will eventually owe more than you can repay in a lifetime, leaving you with little to no extra money for other personal expenses. What is the point of studying an amazing career that will provide you with well paying wages when a percentage of your pay goes to student loans, and eventually your receiving the pay of having been a worker without an education? In the video, Gerald Celente, from Trends Research Institute, mentions, “The reality of a great depression will come in because people will realize that all that worthless money can’t buy you much of anything.” My concern is that people are already noticing this reality but they are not speaking up. It takes one to start but an army to go through and finish. Not only is this depression he speaks of going to create big changes in the school industry but also hopefully it will create better choices and better resources for students to really and truly be successful in life.

     Once graduating from college ready to take on the world with a degree and a major in a career you’ve spent a great amount of your time studying, you may want to splurge on a new home or a new car. Unfortunately in the most deepest and horrible of situations, the debt of paying back student loans may prevent you from doing so. You cannot buy a home or a new car without having finished paying off school debt, otherwise you add on more debt. “You’re going to see more and more people, as they’re already doing it, believing that by going to college that’s going to be their passport to the future. It’s not what it used to be,” says Gerald Celente. Things have changed in the way that we are no longer reassured of that passport. Its no longer a for sure thing. You are either successful in the future or not. I think that college sells itself way too much now a days and they may make promises that are risky to achieve. I myself am one of those believers that by going to college, I will be successful, but I am now more open minded. I continue going to college because I want to further on my education for myself and have more knowledge and be smarter about things. Yes, I do think that by not going to college I can achieve these things as well but not everyone is the same.

     We revolve around this idea when we are younger kids, where we want to do well in life and have a successful career.  We also dream about going to college or a university a.k.a “the key to success,” mentioned in the video, where we can study to be whomever we want. My concern is that students will think that if they don’t go to college they will end up at a dead end, meaning they wont have a successful future. Therefore I believe that college sets the alumni up, feeding them dreams and all the possible success they can get if they get good grades and attend the college. So there, a person decides to attend college, but then comes to their mind, how will they pay for it? And the answer is simple, borrowing money. It sounds and is easier to do within the first step but once you’re done with college, have graduated, and achieved your career goal its time to think about paying back those student loans that eventually turn into a nightmare. This draws my opinion into thinking that college brainwashes students with dreams and success. They offer all these “excellent” loans that can help you pay off school debt, but they don’t mention the debt itself to the loan itself, that increasing double to triple the trouble.

     In conclusion student loans can be a students savior to go to college, but we must keep in mind that student loans are like glue. They get stuck with you for a long time and it may be hard to remove forever. I think we all need to research thoroughly what we want and decide on whether or not college is for you and if your willing to go through with taking out a percentage of your paychecks for the rest of your life after you’ve completed your education in order to pay off what originally paid for your education.