Educational Ties; An American Perspective
- niacemoneharris
- Oct 3, 2020
- 3 min read
A student within the United States protests the absurd debt that is brought with education by decorating their graduation cap. © Sofi
As students enter and return to their college dorms or stay at home and meet their new professors over the computer, many in their last quarter of college education and college graduates may be entering the first phase of paying their student loan debt. Student loan debt has topped $1.5 trillion in recent years. Therefore, this is the largest type of consumer debt in America. The average student loan borrower graduates with nearly $30,000 in debt. Students graduate from the education system, but they remain in an economic tie that they should be relieved from, by our national government.
According to the Consumer Financial Protection Bureau (CFPB) Director Richard Corday, “With one out of four student loan borrowers struggling to repay their loans or already in default, cleaning up the servicing market is critical. Today’s report underscores the need for market-wide student loan servicing reforms to halt harmful practices and boost assistance for distressed borrowers.” If it is statistically clear the overwhelming debt America’s education system is placing on citizens, why haven’t any policies been implemented to enable a more efficient student loan process?
A student holds a sign during a protest at Indiana University.
© Jeremy Hogan, via AP Photo
Effective Factors
As we also enter a crucial election year within the United States, the outcome of such an event could very much determine if these next four years can be a turning point for American citizens struggling to pay off their student loan debt. Without change soon, the repercussions of the global pandemic on families will cause the numbers to continue to rise. What I find interesting about our federal government and the education system is that within our schools we strongly encourage every student to attend college to be successful, but neither our education system nor government provides the resources for students who achieve this goal but have no secure economical foundation to rely on. It is almost as if your socioeconomic class determines your college afterlife regardless if you accomplished more than perhaps majority of the people in your lower-income community.
Another factor that plays a role in this mass increase in student loan debt, is the programs that are supposed to help and guide students in the educational loan process. The problem is many of these programs in America fail to enroll students who could tremendously benefit from them.
This is clearly seen in recent data that shows, “African Americans and Latinos disproportionately enroll at for-profit colleges and have higher debt levels and lower completion rates than their counterparts attending public or private, non-profit schools, placing them at particular risk.”Many students of color and or a lower-income background face many trials in their journey to attend a college, so there should be a sufficient program for them that smoothly allows them to graduate college and aids them in the process of receiving student loans as well as paying them off.
Students unite in protest against the ballooning student loan debt in which they experience at the Hunter College, which is a part of New York City University, in New York.
© Cem Ozdel/Anadolu Agency, via Getty Images
What Can You Do?
You can easily sign and share petitions, like the most recent one listed below that is fighting or educational student loans to be cancelled because of the current state our county is in as a result of the pandemic. You must use your voice to encourage change because if any policy can help this current situation, it will help you in the future and the next generation of youth to come. You must stay informed about what governmental leaders are prepared to make this change for the people, so you can advocate for them to be placed in an office position. Change will come, but we must stay focused and remember to stay involved always. This is not just an educational problem; it is a crisis that is in need for urgent care from our government.
PETITIONS
Works Cited
Responsiblelending.org. 2020. Student Loans: The Problem | Center For Responsible Lending. [online] Available at:
<https://www.responsiblelending.org/issues/student-loans/student-loans-problem> [Accessed 17 September 2020].
Consumer Financial Protection Bureau. 2020. CFPB Concerned About Widespread Servicing Failures Reported By Student Loan Borrowers | Consumer Financial Protection Bureau. [online] Available at:
<https://www.consumerfinance.gov/about-us/newsroom/cfpb-concerned-about-widespread-servicing-failuresreported-by-student-loan-borrowers/> [Accessed 17 September 2020].
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