Frank Hernandez Case

Professor Whitt

English 101

March 26, 2013

Assignment 6

I just started Valencia College not too long ago, and I have noticed that there are cars in the parking lot of Valencia that are really expensive. I was wondering how college students that mostly do not work, can afford these cars. Student personal debt is the issue, student loans is the cause.

Student loans are a big social issue, in my opinion: because the government is making it easy for kids that have not finished puberty, get their hands on thousands of dollars in student loans. Most of the students I have spoken too have no idea the impact and sorrow these loans will bring them. It's all fun and games to them, but I tried explaining to student even if we graduated this would not guarantee a job and the less debt we have the better.

Secondly, a student in my math class named Jason has only been at Valencia College two semesters and he owes $ 14,000 thousand dollars in loans. I asked Jason a simple question "what kind of car you drive" he responded with a big smirk a Hummer. I told Jason you have not finish your undergrad yet, and by the time you finish college you will owe the government six figures. The funny thing is I asked Jason what he was majoring in, and he replied Culinary. He will never be able to pay these loans off on a chef's salary.

Furthermore, there should be a better system in place on how the student are prequalify for loans. It should be on a needy bases and not everyone should qualify for loans, and the loans should be awarded monthly. Another problem with government loans, they give students that have never managed money, lump sums sometimes ranging from $3,000 to $5,000 dollars. This in my opinion is contributing too many student in debt today.

Finally, writing this paper has been a big eye-opener for me. On how student loans have huge interest rates, capitalization of interest, and the sole option of interest-only payments, students will never be able to pay off my student loan. This type of injustice experienced by this student loan borrower may be giving rise to a trend that will require a much more substantial fix than debt forgiveness, particularly given the United States supposed struggle to maintain its place as a top world power.