Why do people say they can't afford college when there are loans?

It is a difficult task to use student loans to fund university degrees. What most students (and their parents) do not seem to notice is that in this economy you are very likely to graduate and get a high salary job.

From 2008 to 2016, during artificially low interest rates, student loans amounted to $ 64 billion, reaching $ 13,000, and the average student loan balance increased from $ 20,000 to $ 37,000.

According to the University Council, over 40 million (12%) Americans have student loans. The terms of repayment are very loose, but the loan default is still large. According to the data of the Ministry of Education, Culture, Sports, Science and Technology, most borrowers of more than 1,000 institutions have not received any compensation for three years since the end of the research. According to a recent report by Consumer Financial Protection Agency, the number of students over the age of 60 has quadrupled in the past 10 years.

There seems to be no restriction on the amount of money the parent intends to borrow. As the interest rate rises, the debt crisis of student loans can change into an economic crisis

To make matters worse, Mr. Obama has federalized the student loan system. The government has issued most loans and has gained considerable benefit from its interests. To make matters worse, when you fall into default, they are making money.

If you can not stop by these facts, please visit Quora. You are looking at a person financing $ 275,000 to get $ 80,000 work. Then there are couples with total income of $ 120,000 and student loan of $ 365,000.

Most importantly, the economic knowledge of many families is not enough to manage student loans.

You never have to say no. As their parents can not afford it, most children can not go to their chosen university. Because their parents can not afford it, they can not go to the summer camp they want. They are too expensive so they can not play musical instruments. In a 1% environment this is not the case. If you want something and you have the right to do, you can. You learned how to succeed from a very young age. What bluff, what are you seeing in the world of promoters, shockers, business bigs? In addition to being false self-confidence, full of arrogance, and often being considered "spoiled", imagine it in grade 7. But the seeds will be planted, eventually all will grow into a business bluff celebrating in later life.

People do not like to talk about the way they pay for college, they like to say loans rather than what they say. They like to talk about scholarships without special details. They prefer to say that the government helps them or their parents to afford it, but no one wants to talk about numbers. When I graduated from high school, when I was thinking about ways to go on to a four-year public university in the state, this was the biggest frustration. No one wants to provide details - no one wants to talk about it

I applied for a university this year. I may need to borrow a student loan because I can not afford to pay tuition fees at the university, and not everyone can get a scholarship. I am worried that there will be plenty of debts after graduation. My debt keeps increasing as I claim interest on my student loan. When I attended college, I had a lot of debts. It may not be easy to repay my debt. It is difficult to find a job that I can earn a lot of money. Most importantly, it is not only for myself to earn money, I need to consider my parents. I do not want to buy a house or car, I have a big debt that I can not even imagine. Addiction, I decided to give up the university because the students can not afford it, and the people I know quit school as they can not go to college.