How Forgiving Student Loans Will Help The United States Of America 's Economy

1228 Words Dec 2nd, 2014 5 Pages
How forgiving student loans will help the United States of America’s Economy College students end their college career with enormous amounts of student loan with interest rates that make paying the loan back even harder. As a result U.S. economy suffers, because students have to pay their loans back instead of buying products or services, which hinders the economy from growing. By forgiving student loans, college students would have extra money to spend, which in return would help stimulate economic growth. The problem that we are currently face. After putting thousands of dollars in to their education we expect them to pay their loans back with the job market that seems to be shrinking rapidly ("New resources”). Generally people go to college to further their education as well as being able to obtain better jobs. But because of the high college prices the next generation is in a worst monetary situation then the last (Schneider). If a student misses one payment on their loan fees can be applied, those fees are up to 25% along with other fees(“New resources”). So they can only hope and pray for debt to be forgiven. Because of this student loans have now reached the one trillion dollar mark, because of this student out of college have a mortgage size debt and not allowing them to go into the housing market. Therefor this is hindering the US economy from not only growing but also recovering from being down (Applebaum). With college prices rising dramatically over…

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