SOC220 Socials Problems

Week 5 Discussion

DQ1 According to some politicians, student loan debt is an economic emergency that is stopping young people from such things as purchasing cars, starting businesses, buying their own homes, etc. Historically, what has been done to alleviate this social problem? How do you think, if perpetuated, this problem may impact you or the community you live in? What are some solutions to this modern day problem?

DQ2 Research the issue of education disparity between impoverished families and those from high income families/communities. Explain if research shows that students from high income families achieve better in school. Develop a list outlining possible reasons why this disparity is real. Next, create a list of possible solutions micro (individual) and macro (systems, laws) solutions) that can address this disparity, with hopes of closing the gap.

 

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Student loan debt

Introduction

Student loan debt is a major problem, with no easy solution. The amount of student loan debt has increased significantly over the last decade as colleges have become more expensive and students have stayed in school longer than ever before. While it’s true that tuition prices are going down and enrollment is decreasing slightly right now, those factors alone won’t solve this issue: we need to focus on changing how Americans think about education if we want to reduce student loan debt—and maybe even save some lives along the way!

Student loan debt is down from its peak in 2010.

Student loan debt is down from its peak in 2010. It’s still a big problem, but it’s not as big a problem as it was before. Student loans were on track to reach $1 trillion by 2014—a number that would have surpassed all other types of debt except mortgages—but now they’re projected to reach just over $1 trillion by 2020.

The good news is that student loan debt has been decreasing since 2010, with many borrowers refinancing their loans so they can lower their monthly payments and improve their credit histories while still paying off those loans over time. But there are signs this trend could reverse: As we get closer and closer towards 2020 (the date when student loan interest rates will double), more people will need help paying off their debts because they’ll be unable to keep up with them without taking out additional debt or defaulting altogether on existing obligations like rent or car payments

There are more borrowers than ever before.

There are more borrowers than ever before. The number of students borrowing for higher education has increased by approximately 20 percent since 2000, and the percentage who graduate with debt has risen from 10 to 25 percent. In addition, the number of borrowers who default on their loans has increased from just over one quarter in 1999 to almost two thirds in 2010.

One-third of student debtors haven’t made a payment in at least nine months.

The number of borrowers who are delinquent on their loans is increasing, and the number of borrowers who have defaulted on their loans is increasing. In 2016, more than 7 million student loan borrowers were more than 90 days delinquent or had defaulted on federal student loans—a 19% increase from 2012.

The percentage of federal student loan borrowers in repayment has also declined over time: from 53% in 2005 to 47% in 2016 (the most recent year available).

The average monthly student loan payment for a borrower aged 20 to 30 years old is $203.

The average monthly student loan payment for a borrower aged 20 to 30 years old is $203. The current figure is up from $193 in 2018 and down from $172 in 2017, but it’s still well above what was paid by borrowers during the same period of time in 2016.

Women are bearing most of the burden.

Women are bearing most of the burden.

Women are more likely to take out student loans than men, and they’re also more likely to default on them once they do. And while women tend to earn less than men over their lifetimes, they’re often paid less—which means that if you’re a woman who owes money on student loans and has been out of work or underemployed for some time now, it might be hard for your monthly payments to keep up with your salary. In fact, according’to an analysis done by The New York Times in 2012: “All told…women make just 77 cents for every dollar earned by men nationwide..”

This isn’t just about income inequality; it’s also about economic instability across generations—because families today may have higher levels of debt than those from generations past did when they were growing up poor or middle class (or even rich).

Higher education has never been more expensive.

You’ve worked hard and saved up for college, but now that it’s here, you’re looking at more debt than ever before. That’s not the end of the world, but there are ways to save money on education—and even pay off loans faster—if you know where to look.

Let’s start with how much tuition has increased over time: according to The College Board (a nonprofit organization that administers standardized tests), average annual tuition costs for public four-year colleges rose from $3190 in 1990-1991 to $3938 in 2014-2015 (adjusted for inflation). During this same period, median household income increased by just 9 percent—while tuition rose 72 percent! That means parents must spend at least 3 times what they earned per year just so their kids can afford an education; if those parents work full time jobs or have other sources of income such as retirement savings accounts or investments; these numbers become even more dramatic when compared with increases seen since 2000 alone…

A college degree may not be worth much anymore.

A college degree may not be worth much anymore.

College degrees are more valuable than ever before, but that doesn’t mean they’re guaranteed to get you a high-paying job. In fact, a college degree is only as valuable as what the current job market says it is — and that’s changing all the time.

The value of a single credit hour has been increasing over time because colleges have gotten better at teaching students how to do things like write computer code or run businesses (and there are more jobs out there for those who can). But over time, this trend has been offset by other factors: cheapening labor costs through automation; declining wages across industries; increased productivity from technological advances in manufacturing; etcetera…

Student loan debt is a major problem, with no easy solution

Student loan debt is a major problem, with no easy solution. It’s not going away anytime soon. In fact, it’s only getting worse as the average student borrower ages out of college and enters their 30s with more than $30,000 in student loans hanging over their heads.

The numbers are staggering: In 2012 alone, more than $1 trillion was borrowed by Americans to pay for undergraduate degrees at colleges and universities across the country—and this figure doesn’t include graduate school tuition costs or interest payments on those debts (which could top $200 billion).

Conclusion

Student loan debt is a major problem. It’s not going away any time soon, and there are no easy solutions that can be applied to this issue. In fact, the current situation may be getting worse because more borrowers than ever before have been accruing debt for their education. There are several actions that can be taken by both borrowers and lenders alike to help solve this problem